stablecoins | ForkLog

ForkLog 27 01.08.2024

Tether’s Net Profit Reaches $5.2 Billion in First Half of 2024

The company behind the USDT stablecoin, Tether, reported a record net profit of $5.2 billion for the period from January to June. According to the report, operating profit amounted to approximately $1.3 billion, primarily from interest income on US Treasury bills. Direct investments in these instruments exceeded $80.9 billion, and including cash and other equivalents, […]

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ForkLog 13 26.07.2024

FSB Warns of Stablecoin Risks for Emerging Economies

The adoption of global stablecoins in emerging economies entails significant financial risks and regulatory challenges, according to a report by the FSB under the G20. Analysts highlighted the growing popularity of “stablecoins” in these countries, citing limited access to banking services, large remittance flows from developed nations, and the volatility of national currencies as reasons. […]

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ForkLog 17 19.07.2024

Hong Kong’s ZA Bank to Partner with Stablecoin Issuers

Hong Kong’s virtual bank ZA Bank will provide reserve services for stablecoin issuers. According to its representatives, the bank is in talks with ten companies regarding potential partnerships. ZA Bank, the largest virtual bank in Hong Kong, announced that it will provide reserve bank services for stablecoin issuers and is currently negotiating cooperation with nearly […]

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ForkLog 16 12.07.2024

SEC Concludes Investigation into BUSD

The issuer of Binance’s BUSD stablecoin, Paxos, has received a notification from the SEC indicating no plans for enforcement action. In February 2023, the NYDFS initiated an investigation into the firm. Later, the regulator ordered Paxos to cease issuing BUSD. The SEC also announced its intention to sue the company. The Commission’s notice claimed the […]

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ForkLog 9 10.07.2024

Bank of Russia Rules Out Stablecoins for Domestic Payments

Stablecoins lack the characteristics of a universal payment method, such as the national currency, and thus their use in transactions between Russian residents is deemed unacceptable, according to a statement from the Bank of Russia. An analytical report highlighted that the emergence of “stable coins” was a response to the excessive volatility of cryptocurrencies and […]

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ForkLog 22 09.07.2024

PYUSD Market Capitalisation Surpasses $500 Million Following Solana Integration

The total market capitalisation of PayPal USD (PYUSD) stablecoins has exceeded $500 million, according to DeFi Llama. This milestone was achieved following the addition of support for Solana. Over the past month, the figure has risen from $270 million to over $531.9 million. The increase in PYUSD supply followed its expansion to the Solana network […]

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ForkLog 10 08.07.2024

TRON to Introduce ‘Gas-Free’ Stablecoins

The TRON team is developing a solution for fee-free P2P stablecoin transfers, as announced by the project’s founder, Justin Sun. Our team is developing a new solution that enables gas-free stablecoin transfers. In other words, transfers can be made without paying any gas tokens, with the fees being entirely covered by the stablecoins themselves. — […]

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ForkLog 10 03.07.2024

Russia’s Central Bank Plans to Legalize Cross-Border Stablecoin Transactions

Russian authorities intend to permit the use of stablecoins for international transactions. This was reported to Izvestia by Alexey Guznov, Deputy Chairman of the Central Bank. According to him, the issue is to regulate the entire supply chain, which “would allow individuals to transfer [stablecoins] into Russia, accumulate them, and use them for cross-border payments.” […]

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ForkLog 29 02.07.2024

Aave Developers Launch GHO Stablecoin on Arbitrum Network

The decentralized autonomous organization behind the development of the Aave DeFi protocol has launched the GHO stablecoin on the Arbitrum L2 solution network, as reported by The Block.

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ForkLog 25 01.07.2024

Circle Secures First MiCA-Compliant Stablecoin License

Circle Mint France has been granted the right to issue euro-denominated stablecoins EURC and USDC in the EU under MiCA. This was made possible by the firm’s acquisition of an Electronic Money Institution (EMI) license from the ACPR. BREAKING NEWS: @Circle announces that USDC and EURC are now available under new EU stablecoin laws; Circle […]

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ForkLog 11 26.06.2024

USDT Supply on TON Network Surpasses $500 Million

The market supply of USDT issued on The Open Network (TON) has approached $520 million.

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ForkLog 12 26.06.2024

Legal Expert Criticizes UAE’s New Cryptocurrency Regulations

The updated regulations in the UAE could potentially ban cryptocurrency payments in the country. This conclusion was reached by legal expert Irina Khiver. She referred to the approval on June 5 by the board of directors of the UAE Central Bank (CBUAE) of amendments to the regulation on the supervision and licensing of stablecoins. According […]

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