PayPal Unveils US Dollar-Pegged Stablecoin
The United States-based company PayPal introduced the PayPal USD (PYUSD) cryptocurrency stablecoin.
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Latest firstRepublic of Palau Collaborates with Ripple Labs to Launch Palau Stablecoin
The ministry plans to reduce payment costs and improve access to financial services, especially for underserved communities and various socio-economic groups, leveraging digital solutions.
South Korean Banks Explore Tokenized Deposits as CBDC Alternative
Certificate of Deposit tokens are becoming more popular among South Korean banks as stablecoin alternatives.
South Korea’s Shinhan Bank Tests Stablecoins for Remittances
Key Takeaways : Shinhan Bank, a prominent financial institution in South Korea, has taken a momentous step in potentially transforming the remittance sector. The bank is currently conducting tests for stablecoin payments on the advanced Hedera network. This blockchain platform…
Circle CEO Says US Dollar Dominance at Stake, Urges For Swift Stablecoin Regulation
With increasing numbers of individuals turning to cryptocurrencies due to the inefficiencies of traditional payment systems, the CEO warned that the dollar's dominance is at stake.
Circle and Tether Freeze $65 Mln Amid Multichain Hack
. The exploit resulted in the loss of over $126 million worth of various tokens, prompting Circle and Tether to freeze more than $65 million in associated assets.
Italy’s Central Bank calls for robust framework to regulate stablecoins
The report highlights instances that have raised concerns about the stability of stablecoins, such as the de-pegging of Terra's stablecoin and a notable run on Tether.
Tether Addresses Reports on Chinese Securities Exposure
Tether, the stablecoin issuer, did partially back its stablecoin with Chinese stocks for a while, despite refusing to confirm it at the time.
Japan’s MUFG to Launch Bank-Backed Stablecoins on Numerous Public Blockchains
Progmat Coin will facilitate the issuance of bank-backed stablecoins on various public blockchains, including Ethereum, Polygon, Avalanche, and Cosmos
New York Proposes Stablecoins for Bail Payments
A New York legislator recently introduced a new measure that encourages the use of fiat-collateralized stablecoins as a legitimate means of paying bail bonds.