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Japan is wary of allowing banks to issue stablecoins, other than trust banks
Japan is wary of allowing banks to issue stablecoins, other than trust banks
"Last week the Financial Services Agency (FSA) presented some ideas relating to cryptocurrency and stablecoins to the Financial System Council Working Group on Payment Services. The FSA is reluctant to allow banks to issue stablecoins other than trust banks. For trust bank issued stablecoins, it wants to relax the reserve requirements which currently require all assets to be held in bank demand deposits. However, it also wants to impose the travel rule, requiring KYC for trust bank issued stablecoin transfers."
#Stablecoins#Regulation#CryptoAssets#Fintech#Japan#DFC
·ledgerinsights.com·
Japan is wary of allowing banks to issue stablecoins, other than trust banks
The Grumpy Economist: Basecoin
The Grumpy Economist: Basecoin
"I can see why investors would want to be Basis stockholders, and receive seignorage, and I can see why there is a headlong rush to issue new cryptocurrencies. The rush to buy the currencies, other than to get money out of China and Russia, does not seem that sensible, especially given that so many have such clearly hazy promises of long-run value. (The white paper is interesting but this is worth $113 million? I'm in the wrong business!)"
#Fintech#CryptoAssets#Stablecoins#DFC
·johnhcochrane.blogspot.com·
The Grumpy Economist: Basecoin
Gemini Stablecoin Volume Doubles on Top 10 Exchange Amid Tether Turmoil - CoinDesk
Gemini Stablecoin Volume Doubles on Top 10 Exchange Amid Tether Turmoil - CoinDesk
"When the Tether (USDT) stablecoin's $1 peg broke down on Monday, traders looking for another dollar equivalent they could easily move between cryptocurrency exchanges had few other places to turn. One of those places was Bibox, the ninth-largest exchange by 24-hour adjusted volume, according to CoinMarketCap, which accounts for basically all trading – 96 percent at the time of writing – in the Gemini Dollar (GUSD), a dollar-pegged alternative to tether. (Gemini, the exchange founded by the Winkelvoss twins, does not currently offer trading pairs using its stablecoin.)"
#CryptoAssets#Bitcoin#AltCoins#StableCoins#DFC
·coindesk.com·
Gemini Stablecoin Volume Doubles on Top 10 Exchange Amid Tether Turmoil - CoinDesk
Huobi's US Exchange Sees 30% Boost in Trading for Tether Alternative - CoinDesk
Huobi's US Exchange Sees 30% Boost in Trading for Tether Alternative - CoinDesk
At HBUS, the U.S. affiliate of the Singapore-based Huobi exchange, both deposits and withdrawals of USDT "have increased by over 10x over the last two days," a company spokesperson told CoinDesk. And the investors making deposits appear to be set on swapping it for TrustToken's TrueUSD (TUSD) stablecoin, which launched earlier this year. While HBUS is a small exchange, ranking only 129th by adjusted total volume according to CoinMarketCap, it appears to be one of the very few in the world where investors can trade TUSD for bitcoin (Bittrex being another rare example).
#CryptoAssets#AltCoins#Bitcoin#Stablecoins#DFC
·coindesk.com·
Huobi's US Exchange Sees 30% Boost in Trading for Tether Alternative - CoinDesk
Binance CFO Says Crypto Exchange Looking to Add New Stablecoins - CoinDesk
Binance CFO Says Crypto Exchange Looking to Add New Stablecoins - CoinDesk
Nic Carter, a co-founder of Coinmetrics.io and partner at Castle Island Ventures, argued that stablecoins are currently used by traders who lack fiat on-ramps for regulatory arbitrage or want to avoid capital controls. “I don't believe traders will adopt the regulated alternatives, like the Gemini Dollar, which has anti-money laundering built into it," Carter told CoinDesk, adding: “To me, those aren't even playing in the same sandbox."
#AltCoins#Bitcoin#Stablecoins#CryptoAssets#DFC
·coindesk.com·
Binance CFO Says Crypto Exchange Looking to Add New Stablecoins - CoinDesk
BitPay Launches Gemini and Circle Stablecoin Settlement Options - CoinWire
BitPay Launches Gemini and Circle Stablecoin Settlement Options - CoinWire
As per the firm’s announcement published October 15, BitPay has launched a new settlement option that would allow merchants to receive customer payments in both Gemini Dollars (GUSD) and Circle USD Coin (USDC). The move comes as a response to the growing demand for stablecoin, a cryptocurrency pegged to a stable asset.
#Stablecoins#CryptoAssets#Bitcoin#AltCoins#DFC
·coinwire.com·
BitPay Launches Gemini and Circle Stablecoin Settlement Options - CoinWire
TrueUSD Sees 30% Surge in Trading Volume as USDT Tanks - CoinWire
TrueUSD Sees 30% Surge in Trading Volume as USDT Tanks - CoinWire
"U.S. cryptocurrency exchange HBUS reportedly saw a massive surge in trading volume between Tether (USDT) and another USD-backed stablecoin TrueUSD. According to a spokesperson from HBUS, both deposits and withdrawals of USDT on the exchange “have increased by over 10x over the last two days,” with the majority of investors increasingly trading the controversial stablecoin for TrueUSD (TUSD), another blockchain-based stablecoin launched earlier this year as part of the TrustToken asset tokenization platform."
#CryptoAssets#Bitcoin#AltCoins#Stablecoins#Tokenization#DFC
·coinwire.com·
TrueUSD Sees 30% Surge in Trading Volume as USDT Tanks - CoinWire
One Coin to Rule Them All? Huobi Lets Users Swap Between Stablecoins | CCN
One Coin to Rule Them All? Huobi Lets Users Swap Between Stablecoins | CCN
"According to the announcement, the HUSD solution aims to reduce the need to choose between multiple stablecoins, as well as to cut down transaction costs incurred when switching between these USD-pegged assets. It does so by automatically converting all stablecoin deposits on Huobi’s platform to its newly-launched HUSD “token,” which is native to the exchange and cannot be withdrawn. This platform token can be used for trading bitcoin, ether and any other digital asset listed on Huobi Global platform. HUSD can also be used at the time of withdrawals by converting itself back to the stablecoins, which could further be converted to fiat currencies."
#CryptoAssets#Bitcoin#AltCoins#Stablecoins#Tokenization#DFC
·ccn.com·
One Coin to Rule Them All? Huobi Lets Users Swap Between Stablecoins | CCN
Bitfinex’s banking problems solved: SNITCHES GET STITCHES | Attack of the 50 Foot Blockchain
Bitfinex’s banking problems solved: SNITCHES GET STITCHES | Attack of the 50 Foot Blockchain
"Larry Cermak at The Block is having great fun reporting on each new Bitfinex banking partner as it pops up. He tweeted about their account at HSBC — and this account inexplicably vanished soon after, and cash deposits to Bitfinex were suspended."
#CryptoAssets#Bitcoin#AltCoins#Stablecoins#DFC
·davidgerard.co.uk·
Bitfinex’s banking problems solved: SNITCHES GET STITCHES | Attack of the 50 Foot Blockchain
Bitfinex Took 630 Million Tether Out of Circulation After Drop Below $1 - CoinDesk
Bitfinex Took 630 Million Tether Out of Circulation After Drop Below $1 - CoinDesk
It's notable, then, that a wallet address controlled by Bitfinex has sent 630 million USDT to an address known as the "Tether treasury" in six large transactions over recent days. The first, of 200 million USDT, was sent the morning of Oct. 14, when Tether's dollar exchange rate was beginning to hit multi-month lows.
#CryptoAssets#Stablecoins#AltCoins#Bitcoin#DFC
·coindesk.com·
Bitfinex Took 630 Million Tether Out of Circulation After Drop Below $1 - CoinDesk
Bitfinex Is Publishing Data for a Tether Market That Doesn't Exist - CoinDesk
Bitfinex Is Publishing Data for a Tether Market That Doesn't Exist - CoinDesk
"You'll see that the trading pair with the second-highest volume on the exchange over the past 24 hours – nearly $48 million at the time of writing – is USDT/USD: the tether stablecoin, which aims for parity with the U.S. dollar, and the U.S. dollar itself. From this data point, you could be forgiven for concluding that Bitfinex's customers trade huge quantities of tethers for dollars, and vice-versa – more than they trade ether, XRP and EOS combined for dollars. But you'd be wrong."
#CryptoAssets#Bitcoin#AltCoins#Stablecoins#DFC
·coindesk.com·
Bitfinex Is Publishing Data for a Tether Market That Doesn't Exist - CoinDesk
Coinbase Adds Its First Stablecoin Tied to the US Dollar - CoinDesk
Coinbase Adds Its First Stablecoin Tied to the US Dollar - CoinDesk
"Crypto exchange Coinbase announced support for the Circle-issued stablecoin Tuesday. In a blog post, the exchange said U.S. customers outside the state of New York can now buy, sell, send and receive the USD//Coin (USDC) through the company's iOS and Android apps, as well as coinbase.com, which was first announced last month. It intends to offer the coin to customers in different regions going forward."
#CryptoAssets#Bitcoin#AltCoins#Stablecoins#DFC
·coindesk.com·
Coinbase Adds Its First Stablecoin Tied to the US Dollar - CoinDesk
New Stablecoin Tied to Australian Dollar Is Launching on Stellar's Blockchain - CoinDesk
New Stablecoin Tied to Australian Dollar Is Launching on Stellar's Blockchain - CoinDesk
A new stablecoin is launching on the Stellar blockchain that's designed to hold its value with the Australian dollar (AUD) and being pitched for consumer and business uses. Novatti Group, an Australian online payments processor, will issue the Novatti AUD Utility Token beginning on November 19. The token will be backed 1-for-1 with AUD held in a trust.
#Bitcoin#CryptoAssets#AltCoins#Stablecoins#Tokenization#DFC
·coindesk.com·
New Stablecoin Tied to Australian Dollar Is Launching on Stellar's Blockchain - CoinDesk
CoinMarketCap Excludes Some Tether Data After Clarification by Bitfinex - CoinDesk
CoinMarketCap Excludes Some Tether Data After Clarification by Bitfinex - CoinDesk
"CoinMarketCap, the most-visited aggregator of cryptocurrency market data, has changed the way it uses data from the Bitfinex exchange in response to a report by CoinDesk. On Tuesday, CoinDesk pointed out that a trading pair shown on CoinMarketCap – seemingly, for trades between the tether stablecoin (USDT) and U.S. dollars – did not, in fact, represent a pair that's available for trading on Bitfinex. From looking at CoinMarketCap data, the ostensible pair appeared to be the second-highest by 24-hour volume on the exchange at the time the article was written."
#CryptoAssets#Bitcoin#AltCoins#Stablecoins#Liquidity#DFC
·coindesk.com·
CoinMarketCap Excludes Some Tether Data After Clarification by Bitfinex - CoinDesk
Tether Just Burned 500 Million USDT Stablecoin Tokens - CoinDesk
Tether Just Burned 500 Million USDT Stablecoin Tokens - CoinDesk
From Oct. 14, when USDT started to slip below $1.00, to Oct. 23, 680 million USDT were transferred to the company-controlled Treasury wallet. All of these transfers came from an address controlled by Bitfinex, a cryptocurrency exchange that overlaps with Tether in terms of ownership and management.
#Stablecoins#CryptoAssets#Bitcoin#AltCoins#Tokenization#DFC
·coindesk.com·
Tether Just Burned 500 Million USDT Stablecoin Tokens - CoinDesk
Announcing Sila — building the new financial world — Silamoney
Announcing Sila — building the new financial world — Silamoney
"The Sila token is pegged to the US dollar via a centralized, 100% reserve held in USD-based instruments, and is guaranteed to be stable and retain its value even in the most extreme volatility environments. Perhaps most importantly, it forms the basis for a fintech API platform that will enable fast, regulatory-compliant payments, and other uses of money, with minimal reliance on the traditional banking system."
#CryptoAssets#Bitcoin#AltCoins#Stablecoins#Tokenization#DFC
·medium.com·
Announcing Sila — building the new financial world — Silamoney