News
Wise is hiring a digital-asset product lead focused on stablecoins, signaling potential expansion into crypto amid shifting global regulations.
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Stablecoin News
One of the hindrances to mainstream cryptocurrency adoption is price volatility, as these assets are freely traded in the open market without central administrators tasked with maintaining price stability. The anticipation of potential losses and gains has hindered cryptocurrency’s use as a medium of exchange. Stablecoins, however, are cryptocurrencies designed to maintain a stable value over time, making them ideal for commercial transactions.
The introduction of stablecoins in the cryptocurrency market ushered in a new wave of liquidity, as exchanges were able to provide trading pairs with tokens representing traditional fiat currencies.
Stablecoin design takes many different forms, each with its own tradeoffs:
- Reserve-backed stablecoins: Cryptocurrencies pegged to the value of a fiat currency held in reserve by a company or consortium. E.g., Tether (USDT), USD Coin (USDC) and Paxos Standard (PAX).
- Collateralized stablecoins: Tokens backed by other cryptocurrencies that retain a one-to-one value with a fiat currency through over-collateralization to absorb potential volatility of the underlying assets. E.g., Dai and BitUSD.
- Algorithmic (seigniorage supply) stablecoins: Rather than using a reserve or collateralization to maintain a stable value, these stablecoins are facilitated through an automated expansion and contraction of the monetary supply, emulating the role of central banks in the fiat economy. E.g., Basis.
- News
Ant Group and JD.com have paused their stablecoin initiatives in Hong Kong after Beijing regulators raised concerns over private firms issuing digital currencies.
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Jeremy Kranz, founder of Sentinel Global, a venture capital firm, said investors should be "discerning" and read the fine print on any stablecoin.
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Led by Thrive Capital and Greenoaks, the raise comes less than two months after Stripe unveiled its layer-1 blockchain for stablecoin and real-world payments.
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Feist, who is one of the Ethereum Foundation's key researchers, said that Tempo and Ethereum share similar values and "complement" each other.
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Japan’s top banks plan to launch a joint yen-based stablecoin using MUFG’s Progmat platform to modernize payments and corporate settlements.
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Sixteen years after Bitcoin’s debut, regulators continue to face hurdles in accessing reliable crypto data, with privacy laws complicating efforts.
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BlackRock is expanding into the stablecoin market with a redesigned money market fund, compliant with the new GENIUS Act, to provide a secure reserve vehicle for issuers.
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Fat finger errors happen all the time, especially in traditional banking. The difference is that blockchain makes it transparent and immediately identifiable.
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Industry groups criticized the proposed stablecoin limits, arguing that they would stifle innovation and signal to the industry that the UK isn’t crypto-friendly.
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Crypto users were left scrambling on Wednesday after Paxos minted 300 trillion of PayPal's PYUSD stablecoin, then sent it all to a burn address.
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The real winner of last week’s crypto flash crash is the CME. Coinpectra explains how the exchange is increasing its crypto market share.
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As dollar-pegged tokens like Tether’s USDT and Circle’s USDC continue to dominate, the EUROD joins a growing wave of euro-backed stablecoins entering the market.
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Bitcoin’s remaining October performance depends on Fed rate cut odds, BTC ETF inflows and the path major US stocks take.
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Omnichain versions of Tether’s USDT and XAUT go live on Solana via Legacy Mesh, linking digital dollars and gold across blockchains.
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