stable currency

It is reported that DeFillama data shows that the stable currency funds flowing into Ethereum L2 in the past 7 days exceeded US $2 billion, up more than 5%. In terms of Arbitrum, the total inflow of stable currency of the network in February was about US $300 million, with an average daily inflow of more than US $10 million. USDC accounted for 67% of the total value of all stable currencies on the Arbitrum chain with US $96863 million. The total value of Tether and DAI was about US…

It is reported that Klaas Knot, chairman of the Financial Stability Board (FSB), said that the FSB would complete its guidance on the regulation of cryptocurrency and stable currency by July, which aims to strengthen the governance framework, redemption and stabilization mechanism of stable currency. Klaas Knot said that many of the existing stable currencies did not meet the upcoming international norms. The FSB said last week that it would work with other standard-setting bodies to determine how DeFi should be regulated. It also planned to publish a document with…

On February 20, it was reported that if the United States Securities and Exchange Commission formally filed a lawsuit against Paxos, it would have a significant impact on the stable currency market worth 137 billion dollars. Renato Mariotti, partner of the law firm BCLP, said: “If the SEC accuses Paxos, any other stable currency issuer should register or prepare to fight a lawsuit with the SEC.” Mariotti said: “I believe that the SEC is likely to reach a settlement with Paxos. Paxos acknowledges that BUSD is a kind of security,…

It is reported that the Seattle based Web3 payment infrastructure and stable currency as a service provider Stably Corporation announced the official launch of Stably USD on the Polymesh blockchain. Stably has the MSB license registered by FinCEN. Its stable currency, USDS, was launched on the main network of Ethereum in 2018, and then on the Harmony public chain and XRP Ledger (XRPL) in 2022. It is reported that Stably USD is the first stable currency issued by Polymesh in the United States and the first product of continuous cooperation…

On February 16, the Canadian encryption company Spirit Blockchain announced that it would make strategic investment in PIXEL to help PIXEL’s next-generation stable currency and capital market infrastructure to the global market. Interpretation of this information: Canadian blockchain company Spirit Blockchain has announced a strategic investment in PIXEL, a stable currency and capital market infrastructure provider, to help bring their next-generation technology to the global market. This investment comes amid a growing interest in stablecoins and blockchain technology worldwide. PIXEL’s technology uses blockchain to tokenize traditional assets such as stocks,…

According to reports, CZ said in the official Twitter Space of Binance that after the US regulatory crackdown, the cryptocurrency industry may move away from the stable currency linked to the US dollar and even re-examine the algorithm equivalent. At present, there is great pressure on the stable currency, which will narrow the dollar stable currency market, so the industry is exploring other options. We will see more stable currencies based on the euro, yen and Singapore dollar. The regulatory crackdown on the stable currency by regulators was partly caused…

On February 14, according to the data of The TIE and CoinGecko, the total market value of stable currency is about 138.5 billion US dollars, Tether’s market share is 49.39%, USDC is 29.76%, and BUSD is 11.63%. Interpretation of this information: The message states that on February 14, the total market value of stable currency was around 138.5 billion US dollars. Stable currency is a type of cryptocurrency whose value is pegged to one or more forms of fiat currency. This makes it more stable and less volatile than other…

On February 14, it was announced that the encryption KOL Miles Deutsche released a tweet saying that UST has always had the right vision, but the implementation is very poor. However, the demand for strong decentralized stable currency has not disappeared. CZ, the founder of Binance, commented that unfortunately, this is true. Interpretation of this information: The message here highlights the opinions of two prominent figures in the cryptocurrency industry, Miles Deutsche and CZ. Miles Deutsche, who is well-known for his encryption expertise and knowledge of blockchain technology, expressed his…