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2023: A Critical Juncture for the Global Stablecoin Market
21.12.2023
Moody’s Senior Director Yiannis Giokas said adoption accelerated this year, despite many destabilizing trends
Supply of Stablecoins on Ethereum Protocol 30% Lower Than in 2022 — Study
21.12.2023
The supply of stablecoins on the Ethereum chain has dropped by more than 30% from the peak of $100 billion to $66 billion since 2022. The study data shows BUSD and USDC as the two stablecoins which caused the overall market value to fall from $139 billion to $129.5 billion. Tron Stablecoin Supply...
Stablecoin Dominance Hits Lowest Since December 2021 Despite Record Monthly Supply
21.12.2023
Source: AdobeStock The entire stablecoin market cap dominance fell to 8.07% in December, recording the lowest market share since December 2021, despite adding the largest monthly supply last month since February 2022. The total market capitalization of stablecoins rose 3.43% to $128 billion...
S&P’s Stablecoin Report Is a Vote of Confidence for Crypto
19.12.2023
Stablecoins are “something we're putting strong resources towards, because we know it's a growing area both in traditional and new financial areas,” a leading S&P analyst said
Report: Bank of Korea Chief Says Growing Use of Stablecoins Threatens Central Bank Operations
19.12.2023
The Bank of Korea governor Rhee Chang-yong recently stated that the growing stablecoin use threatens the operations of central banks. The possible involvement of global networks like Visa and Mastercard in the stablecoin business will likely undermine the monetary independence of countries like...
Circle Launches EURC Stablecoin on Solana, Expanding Euro Access in the Crypto Space
19.12.2023
Expanding the global reach of euro-based stablecoins, Circle has debuted its EURC token on the Solana blockchain, offering a fully reserved, euro-backed digital asset. Circle Expands its Stablecoin Portfolio With EURC Launch on Solana, Boosting Euro Integration in Digital Finance Circle, a leading...
Value of Stablecoins on Ethereum Sees 34% Decline, Tron Records 57.7% Growth since 2022
19.12.2023
Source: iQoncept / Adobe The value of stablecoins on Ethereum (ETH) has experienced a decline of 34% since 2022, while stablecoins on TRON (TRX) have seen a significant growth rate of 57.7% during the same period. According to a recent report from Sixdegree Lab, the supply of stablecoins...
FDUSD Rockets to $1.6B Market Cap, Becoming Fifth Largest Fiat-Pegged Crypto Amid Binance Concentration
17.12.2023
In the fortnight since Dec. 2, 2023, the stablecoin asset first digital usd (FDUSD) experienced a notable expansion, increasing its supply by 690 million coins. As of Dec. 17, 2023, this surge has elevated its market capitalization to a significant $1.61 billion. This period witnessed...
Circle CEO Says Investors Should Have Exposure to Bitcoin in Complex Geopolitical Environment
16.12.2023
Circle CEO Jeremy Allaire says in a complex geopolitical environment, bitcoin is an asset that investors should have some exposure to. He emphasized that “digital commodities are here to stay,” noting that bitcoin is the largest digital commodity asset. The executive also believes...
TVL on Real-World Assets Spikes Up 700% as Stablecoin and CBDC Popularity Grows in 2023
15.12.2023
Source: Adobe / Luisa Total value locked on real-world assets recorded a 700% surge year-to-date (YTD) alongside overall decentralized finance (DeFi) figures in 2023 as the market’s bullish sentiment continues. A recent market report by CCData shows overall strength in the market after several...
Financial Regulators Urge Congress to Pass Crypto Legislation in New Report
15.12.2023
The Financial Stability Oversight Council (FSOC) has renewed its calls for Congress to pass crypto legislation, according to their annual report released Thursday. Crypto vulnerabilities addressed FSOC’s latest release reiterates its suggestion from last year’s report demanding greater regulation...
Basel Banking Committee Proposes Stricter Guidelines to Classify Stablecoin as Less Risky Than Unbacked Cryptocurrencies
14.12.2023
BIS building in Basel, Switzerland. Source: Adobe/doganmesut The Basel Committee for Banking Supervision (BCBS) wants to tighten rules to classify stablecoins as less risky assets than Bitcoin (BTC) and other unbacked cryptocurrencies. In a recent consultative paper, the international standard...
Global Banking Regulator Proposes Changes to Criteria That Give Stablecoins Preferential Risk Treatment
14.12.2023
The Basel Committee for Banking Supervision wants to tighten requirements that allow stablecoins to qualify as less risky than unbacked cryptocurrencies like bitcoin
The Tether Killer? A True Stablecoin Would Enhance Banking and Crypto
13.12.2023
S&P Global Ratings Introduces Stablecoin Stability Assessment Rankings
13.12.2023
In a combination of both traditional and decentralized finance (defi) sectors, S&P Global Ratings has announced the launch of its stablecoin stability assessment. The latest tool aims to evaluate the ability of stablecoins to maintain their value relative to fiat currencies. New S&P...
LatAm Embraces Wider Stablecoin Adoption: Circle Report
13.12.2023
Source: Getty Images Fintech firms in Latin America are rapidly embracing digital finance solutions, fueled by an increase in crypto adoption among citizens. In a recent report, USDC issuer Circle revealed that citizens of LatAm countries received $562 billion in digital currency value between 2021...
Cantor Fitzgerald’s CEO Says He’s A Big Fan of Bitcoin and Stablecoin Issuer Tether
13.12.2023
Image Source: Pixabay Howard Lutnick, the CEO of Cantor Fitzgerald says he is a fan of Bitcoin (BTC) citing the halving cycle and its decentralized nature as reasons behind the widespread popularity. Speaking at CNBC’s Money Mover podcast, the CEO commented on inflation, the reaction of the Feds...
Stablecoin Tether Receives ‘Constrained’ Rating from S&P Global
13.12.2023
Source: AdobeStock American credit ratings firm S&P Global Inc. said it has started assessing the ability of Tether (USDT) to maintain its peg to the U.S. dollar marking it at a ‘constrained’ rating of 4. Stablecoins are a cryptocurrency whose value is usually pegged to a fiat currency...
Bitcoin’s Recent Surge on Exchanges: Binance and Bitfinex Lead With $871M Inflow
11.12.2023
On Dec. 4, 2023, the amount of bitcoin stored on centralized cryptocurrency exchanges hit a low of 2,001,259. However, recent data indicates that within a span of less than a week, exchanges have seen an influx of 21,436 bitcoin, valued at approximately $928 million. Moreover, more than 60% of this...
Stablecoin Supply Turning Positive and Rising Protocol Fees Among Key Narratives in 2023 — Study
11.12.2023
During Q4 of 2023, the stablecoin supply available to invest in crypto assets was $3.8 billion. This is the first time the net supply of the top five stablecoins has turned positive in nearly two years. In 2023, zero-knowledge (ZK) technology became one of the most consistent talking points in...