Magic Internet Money races past $1B, sets sights on MakerDao
Abracadabra Money enables users to provide collateral via interest-bearing bearing tokens and borrow the Magic Internet Money stablecoin against their holdings.
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Youth Fashion Retail Chain Pacsun Now Accepts 11 Cryptocurrencies
On October 5, the youth fashion and retail brand Pacsun announced the company is now accepting cryptocurrencies via Bitpay’s payment services. Pacsun says the company has a youthful audience that…
Circle reveals cooperation in ongoing SEC investigation
Circle has published filings revealing it is cooperating with a subpoena from the SEC that it received in July.
Stablecoins Must Be Backed By Cash, Says Pro Crypto Senator Cynthia Lummis
Cynthia Lummis – Republican Senator and ardent crypto supporter – is showing caution around stablecoins. She recently said that they need to be cash-backed and regularly audited. Ensuring Proper Stablecoin…
Federal Reserve Chairman Powell Says No Intention to Ban or Limit Use of Cryptocurrencies
Federal Reserve Chairman Jerome Powell confirmed during a hearing before the House Financial Services Committee that he has no intention to ban or limit the use of cryptocurrencies. He also…
Visa Announces Layer 2 Payments Channel for CBDCs and Stablecoins
On Sept. 30, Visa’s Global CBDC Product Lead, Catherine Gu, wrote that the company’s research and product teams are working on a new blockchain initiative called Universal Payment Channel (UPC).…
Cardano Will Soon Have Its First Stablecoin
Software development company COTI announced a few hours ago the issuance of the first stablecoin designed to run on Cardano. The news was first revealed by Charles Hoskinson, leader of…