Argentina is leading the adoption of cryptocurrency in Latin America. According to a report titled “Argentina Crypto Capital,” produced by Lemon, a leading exchange in the country, four of every ten cryptocurrency apps in Latam are being used by Argentines, with over 70% of the deposits processed by the exchange corresponding to USDT, Tether’s dollar-pegged […]
Stablecoin Market Jumps by Over $2.5 Billion in 10 Days, Led by Rise in Key Players
In the opening fortnight of February, the stablecoin domain expanded by $ 1.7 billion, marking a significant rise. The value of the fiat token crypto market has once again risen witnessing an increase exceeding $ 2.5 billion over the past ten days. Specifically, three stablecoins have driven this upswing, with the stablecoin ethena …
Stablecoin Issuer Circle Announces Discontinuation of USDC Support on Tron Blockchain
The U.S. financial technology firm Circle said on Feb. 21 that it will discontinue support for USDC on Tron blockchain. The move comes just a few months after Circle refuted allegations that it was Tron blockchain founder Justin Sun’s bank. Despite discontinuing support for USDC on Tron, Circle said it is still committed to growing […]
$14M Capital Infusion Catapults Ethena Labs’ Valuation; Stablecoin Ranks 9th Largest
On Friday, Ethena Labs, the creators of the stablecoin USDE, secured $ 14 million in funding from key investors. Following this recent influx of funds and a previous $ 6.5 million investment from Maelstrom, overseen by Arthur Hayes, in July 2023, the company’s post-valuation has risen to $ 300 million. USDE Issuer …
Licenced Stablecoin on/off Ramp Yellow Card to Introduce USDC on Stellar Network
The African stablecoin on/off ramp, Yellow Card, is set to introduce the stablecoin USDC on the Stellar network. This partnership has the potential to transform global payments and accelerate the adoption of digital assets. Lightning Fast Transfer Speed Yellow Card, a major licensed stablecoin on/off ramp in the African continent, recently announced plans to introduce […]
Stablecoin Sector Swells by $1.7 Billion in February; USDC and FDUSD Lead Supply Growth
Statistics reveal that since the onset of February 2024, the stablecoin sector has experienced a significant expansion, with an increase of $ 1.7 billion in its economy. In the last 30 days, both usd coin and first digital usd witnessed their supplies jump by 9.6% and 40.3%, respectively. The Dual-Edged Sword of Stablecoin Growth …
Bitso Reveals Latam Is Bitcoin Territory With a Stablecoin Frenzy in Argentina
Bitso, a Mexico-based cryptocurrency exchange with a presence in several countries of Latin America, has revealed the trends that its user base followed during 2023. Bitso Argentina CEO Julian Colombo disclosed that while Bitcoin was still the most popular cryptocurrency in the region, Argentines held over five times more stablecoins than the rest of Latam, […]
Stablecoin Issuer Tether Leads $25 Million Funding Round for Mobile Payment Startup Oobit
On Monday, Tether, the leading issuer of stablecoins, revealed its role as the lead investor in the Series A funding round of mobile payment startup Oobit, which successfully garnered $ 25 million. The investment round saw contributions from notable entities such as Titan Fund, Solana’s Anatoly Yakovenko, and 468 Capital. Oobit Secures $ …
Monei Starts Conducting Euro Stablecoin Tests
European payment platform Monei has announced the start of the testing phase of EURM, a euro-pegged stablecoin, as part of the Bank of Spain’s national financial sandbox. The token will leverage Ethereum’s and Polygon’s blockchains, allowing each one of a reduced number of users to issue 10 EURM during this phase. Monei Rolls Digital Euro […]
Stablecoin Market Cap Climbs $4.85 Billion in 30 Days; USDT, USDC, FDUSD Spearhead Growth
In the past month, data reveals a significant increase in the combined market capitalization of leading stablecoins, rising from $ 131.71 billion to $ 136.56 billion. The top two stablecoins, tether and usd coin, experienced notable expansions in their supplies, with increases of 4.8% and 7.2% respectively. Stablecoin Economy on the Rise Over …
Stablecoin TUSD Remains Below Intended $1 Peg as Avara’s GHO Surges to Near-Peg Heights
Market analysis reveals ongoing stability challenges for the stablecoin trueusd in maintaining its targeted $ 1 peg. As of 10:30 a.m. Eastern Time (ET) on Jan. 25, 2024, the token’s trading value fluctuated between $ 0.979 and $ 0.981. Concurrently, the Aave-developed stablecoin GHO has seen a rise to the $ …
Report: US Crypto Startup Seeks to Launch an Interest-Bearing Stablecoin
A U.S. blockchain and lending startup is seeking the U.S. Securities and Exchange Commission’s permission to issue an interest-bearing stablecoin. The startup said the digital token will be used as an alternative to existing stablecoins such as tether and USDC. Figure Technologies’ Draft Registration Statement A new blockchain and lending startup, Figure Technologies Inc., …
FDUSD Market Cap Skyrockets by $1 Billion in 2024, Clinching Top 4 Stablecoin Spot
According to statistics, the stablecoin crypto asset FDUSD has seen its market capitalization grow by $ 1 billion since the start of the year. Presently, the supply stands at 2.614 billion FDUSD after witnessing a 45.7% supply increase in 30 days. FDUSD’s Market Cap Swells from $ 1.6 Billion to $ 2.6 …
Stablecoin Issuer Circle Plans to Go Public, Files Confidentially With US Securities Regulator
Circle Internet Financial, a fintech company and issuer of the stablecoin usd coin, has disclosed its move toward an initial public offering (IPO). The firm revealed that it has confidentially submitted a Form S-1 with the U.S. Securities and Exchange Commission (SEC). This strategic step by Circle comes just a day after the SEC authorized […]
PYUSD’s 30-Day Surge of 72% Vaults Paypal’s Offering Into USD Stablecoin Top Ten
Over the last month, the supply of Paypal’s PYUSD stablecoin has seen a substantial increase, surging by over 72% from 167.83 million to 289.43 million PYUSD. This significant growth has propelled the payment behemoth’s dollar-linked digital currency to become the tenth largest among all USD-anchored stablecoins. Paypal’s Digital Currency PYUSD Supply Skyrockets Roughly five months […]