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The smart money protocol Umoja has joined forces with the Bitcoin layer two (L2) initiative, Merlin Chain, to roll out a Bitcoin-based high-yield synthetic dollar. The newly introduced stablecoin is…
The fifth-largest stablecoin in the crypto economy by market capitalization, Ethena’s USDE, temporarily detached from its peg on Saturday amid market declines. Data reveals that the token, designed to mirror…
Following criticism of Ethena’s USDE stablecoin, which brought back memories of the Terra blockchain’s Anchor protocol failure, Ethena backer Arthur Hayes introduced a risk tracker by intotheblock.com that monitors aspects…
In the last 12 days of April, the stablecoin sector expanded by $4.46 billion, reaching a current valuation of $155.86 billion. Additionally, the top five dollar-pegged cryptocurrencies experienced an increase…
Lutnick claimed at a recent conference hosted by Chainalysis that stablecoins are fundamental for the US economy.
Celo, a low-fee, usability-focused blockchain, has approved using Tether’s USDT, a dollar-pegged stablecoin, to pay transaction fees. The passed governance proposal stated this functionality would simplify the transaction experience for…
Fintech company Circle has announced support for Web3 services on the Layer 1 blockchain network, Solana. Circle said that the latest move highlighted the growing significance of stablecoins such as…
ZA Bank, a virtual bank in Hong Kong, will offer cash custody accounts for institutions that want to issue stablecoins. The organization is in talks with several parties seeking to…
Ethena Labs, the creators of USDe, have incorporated Bitcoin (BTC) as backing into their synthetic dollar-pegged offering. This move aims to scale USDe’s supply from its current $2 billion mark.…
Global payment giant PayPal has announced that all United States users will be able to facilitate money transfers to friends and family abroad using USD converted from the PayPal USD…