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Japanese Banking Giant Mizuho to Launch Its Yen-Pegged Stablecoin in March
Japanese Banking Giant Mizuho to Launch Its Yen-Pegged Stablecoin in March
Japan’s banking giant Mizuho Financial Group will launch its bespoke stablecoin for payments and remittance services on March 1, local financial newspaper Nikkei Asian Review reports on Feb. 21. In a partnership with around 60 counterpart financial institutions — which together reportedly host 56 million user accounts — Mizuho’s new “J-Coin” digital currency platform will reportedly directly link existing bank accounts with digital wallets.
#Stablecoins#Blockchain#CryptoAssets#DFC
·cointelegraph.com·
Japanese Banking Giant Mizuho to Launch Its Yen-Pegged Stablecoin in March
JP Morgan launch new digital asset - but is it a cryptocurrency? » Brave New Coin
JP Morgan launch new digital asset - but is it a cryptocurrency? » Brave New Coin
As a private blockchain aimed at facilitating corporate transfers, JPM coin is less similar to bitcoin, and more similar to other blockchains designed specifically for international settlements; such as Ripple Labs' XRP token, Goldman Sachs' SETLcoin, and Citibank's Citicoin that aim to use partnerships to help banks cut out the intermediary fees of SWIFT, which has a monopoly on cross bank transactions.
#AltCoins#Stablecoins#CryptoAssets#DFC
·bravenewcoin.com·
JP Morgan launch new digital asset - but is it a cryptocurrency? » Brave New Coin
Will Fiat-Backed Stablecoins Pass Legal Muster With the SEC and CFTC? - CoinDesk
Will Fiat-Backed Stablecoins Pass Legal Muster With the SEC and CFTC? - CoinDesk
"Given how these stablecoins are redeemed, the SEC might characterize them as “demand notes,” which are traditionally defined as two-party negotiable instruments obligating a debtor to pay the noteholder at any time upon request. According to the Supreme Court’s 1990 decision in Reves v. Ernst & Young, demand notes are presumed to be securities under Exchange Act Section 3(a)(10) unless an exception or exclusion applies."
#CryptoAssets#AltCoins#Stablecoins#DFC
·coindesk.com·
Will Fiat-Backed Stablecoins Pass Legal Muster With the SEC and CFTC? - CoinDesk
DAI — a decentralized opposition to the ‘banking cartel’ of stablecoins accumulates 1.7
DAI — a decentralized opposition to the ‘banking cartel’ of stablecoins accumulates 1.7
"Today it seems that the only stable coin that is securely emitted in a decentralized manner is MakerDAO’s DAI. It is also one of the most popular #DeFi apps in Ethereum ecosystem. What is it that makes DAI so unique generating an explosive amount of community trust? Here we will touch upon the core mechanics of MakerDAO emission system, and shed some light on how you as a Ethereum user can benefit from that today."
#CryptoAssets#AltCoins#Stablecoins#DFC
·hackernoon.com·
DAI — a decentralized opposition to the ‘banking cartel’ of stablecoins accumulates 1.7
Facebook Got Data Privacy Wrong, but Could it Get Blockhain and Fintech Right? - Fintech Hong Kong
Facebook Got Data Privacy Wrong, but Could it Get Blockhain and Fintech Right? - Fintech Hong Kong
Several financial institutions have already integrated with Messenger including American Express, Mastercard, MoneyGram, and PayPal. Brazil’s Banco Bradesco for instance is leveraging the Facebook platform to allow customers to conduct day-to-day banking from Facebook, relying on the social network’s customer data analytics to target users.
#CryptoAssets#Bigtech#Blockchain#Stablecoins#DFC
·fintechnews.hk·
Facebook Got Data Privacy Wrong, but Could it Get Blockhain and Fintech Right? - Fintech Hong Kong
The Rise of Stablecoins: An Analysis of Market Adoption | TradeBlock
The Rise of Stablecoins: An Analysis of Market Adoption | TradeBlock
"Our findings indicate that stable coins still have significant room to make inroads on traditional payment processors as a payment option. The accessibility and user experience on traditional payment applications remains significantly further developed than applications and platforms that are used to transfer stablecoins. While stablecoins have shown promise as a way for users to transfer monetary stable value quickly and cheaply, such transactions have not seen explosive adoption, as evidenced by the relatively low number of on-chain transactions. Further, while stable coins initially saw traction as a digital currency trading pair on exchanges, this appears to have lost some momentum as trading volumes fall and as the US dollar maintains its dominance as the top trading pair in bitcoin and altcoin transactions."
#CryptoAssets#AltCoins#Stablecoins#DFC
·tradeblock.com·
The Rise of Stablecoins: An Analysis of Market Adoption | TradeBlock
New Partnership Allows TrueUSD Traders to Audit The Coin’s Backing Assets
New Partnership Allows TrueUSD Traders to Audit The Coin’s Backing Assets
The dashboard developed by Armanino purportedly enables traders to monitor TrueUSD token balances and collateralized funds. “Armanino connects directly to third-party escrow accounts holding the U.S. dollars that collateralize TrueUSD tokens, and runs their own ETH nodes to ensure accurate TUSD token supply,” the post details.
#CryptoAssets#Stablecoins#AltCoins#DFC
·cointelegraph.com·
New Partnership Allows TrueUSD Traders to Audit The Coin’s Backing Assets
MakerDAO Opens Token Holder Vote on Fee Hike for Ethereum Stablecoin - CoinDesk
MakerDAO Opens Token Holder Vote on Fee Hike for Ethereum Stablecoin - CoinDesk
"Christensen said last Thursday that the DAI’s dollar-peg is “almost at a breaking point” as a lack of organic demand threatens to start a “dangerous feedback loop” driven by “a speculative drop in the price.” He then called for a community poll to guide stakeholder votes about increasing fees and raising the stablecoin system’s debt ceiling."
#CryptoAssets#AltCoins#Stablecoins#DFC
·coindesk.com·
MakerDAO Opens Token Holder Vote on Fee Hike for Ethereum Stablecoin - CoinDesk
MakerDAO Token Holders Approve Fee Increase for Ethereum Stablecoin DAI - CoinDesk
MakerDAO Token Holders Approve Fee Increase for Ethereum Stablecoin DAI - CoinDesk
"After a four-day vote open to all token holders, users of MakerDAO’s dollar-pegged, ethereum stablecoin DAI have voted to increase the costs associated with its primary service – programmatic lending. Finalized Thursday, the first round of voting will put in motion another vote to raise the “DAI Stability Fee” that would increase this cost to users to 3.5 percent, up from 1.5 percent today, pending what appear to be administrative measures."
#CryptoAssets#AltCoins#Stablecoins#DFC
·coindesk.com·
MakerDAO Token Holders Approve Fee Increase for Ethereum Stablecoin DAI - CoinDesk
One of Japan’s biggest banks is launching a digital “coin” to replace cash—without using crypto
One of Japan’s biggest banks is launching a digital “coin” to replace cash—without using crypto
According to a Mizuho spokesperson, J-Coin doesn’t use cryptocurrency or blockchain in any form. That conflicts with numerous reports going back as far as 2017 suggesting that the bank was researching or planning a digital currency pegged to the Japanese yen (paywall).
#Stablecoins#CryptoAssets#Fintech#Blockchain#DFC
·qz.com·
One of Japan’s biggest banks is launching a digital “coin” to replace cash—without using crypto
Interest Rates are the Next Battleground in the Stablecoin Wars
Interest Rates are the Next Battleground in the Stablecoin Wars
So far, dollar backed stablecoins like Tether’s USDT or Circle’s USDC don’t pay any interest to holders of their coin. We think that is about to change in 2019. As of today, the users of stablecoins are effectively giving their providers free loans in return for a service (digitally transferring bank dollar certificates) that is not very distinguished from one provider to the next.
#AltCoins#CryptoAssets#Stablecoins#Blog#DFC
·medium.com·
Interest Rates are the Next Battleground in the Stablecoin Wars
Thoughts on JPM Coin
Thoughts on JPM Coin
JPM Coin has the potential to form the basis of a new interbank settlement network, with a bank-issued digital dollar that may become an alternative to central bank reserves for the settlement of interbank payments.
#Blog#Stablecoins#CryptoAssets#AltCoins#DFC
·mrauchs.com·
Thoughts on JPM Coin
Stablecoins As An Evolution Of Money For A Digitized World And The Place Of Everex In It
Stablecoins As An Evolution Of Money For A Digitized World And The Place Of Everex In It
The Everex eTHB stablecoin is equivalent to one Thai Baht and powered by Ethereum smart contracts. It is the main component of the Everex Wallet application, which allows users to deposit, send, receive and withdraw cash or transfer funds to a bank account in a number of DFC stablecoins representing different national currencies.
#AltCoins#CryptoAssets#Blog#Stablecoins#DFC
·blog.everex.io·
Stablecoins As An Evolution Of Money For A Digitized World And The Place Of Everex In It
IBM Signs 6 Banks to Issue Stablecoins and Use Stellar's XLM Cryptocurrency - CoinDesk
IBM Signs 6 Banks to Issue Stablecoins and Use Stellar's XLM Cryptocurrency - CoinDesk
Six international banks have signed letters of intent to issue fiat-backed stablecoins on World Wire, an IBM payment network that uses the Stellar public blockchain. The network promises to let regulated institutions move value across borders more quickly and cheaply than the legacy correspondent banking system.
#Blog#CryptoAssets#Stablecoins#AltCoins#CrossBorder#Blockchain#Hyperledger#Stellar#DFC
·coindesk.com·
IBM Signs 6 Banks to Issue Stablecoins and Use Stellar's XLM Cryptocurrency - CoinDesk
IBM launches challenge to Ripple and Swift | American Banker
IBM launches challenge to Ripple and Swift | American Banker
The choice of Stellar is a bit surprising given that IBM has been working with the Linux Foundation on Hyperledger Fabric for years. But Hyperledger Fabric is permissioned, private distributed-ledger technology. IBM wanted something more open that any organization could join if it met certain criteria. In World Wire, IBM has created kind of a virtual private network within Stellar. Organizations can register assets and become part of the network, but IBM carefully vets each participant and validator. By contrast, Ripple says it does not know who runs the validator nodes on its distributed ledger. It's really about knowing the validators, but without creating this walled garden that you have to have special permission to join.
#AltCoins#Stablecoins#Blockchain#Blog#CryptoAssets#CrossBorder#Hyperledger#Stellar#DFC
·americanbanker.com·
IBM launches challenge to Ripple and Swift | American Banker
Banks Consider Following JPMorgan Into Digital Currency, IBM Says - Bloomberg
Banks Consider Following JPMorgan Into Digital Currency, IBM Says - Bloomberg
IBM said at least two major U.S. banks are considering whether to follow JPMorgan Chase & Co.’s lead in issuing a stablecoin. IBM said it is also working with six non-U.S. banks on digital currencies, including BNK Financial Group Inc.’s Busan Bank in South Korea, and in the Philippines, Rizal Commercial Banking Corp., which is expected to issue a stablecoin in the second quarter. The banks are awaiting approvals from regulators.
#AltCoins#Stablecoins#Blockchain#Blog#Stellar#Hyperledger#CrossBorder#CryptoAssets#DFC
·bloomberg.com·
Banks Consider Following JPMorgan Into Digital Currency, IBM Says - Bloomberg
IBM Launches A Blockchain-Based Global Payments Network Using Stellar's Cryptocurrency
IBM Launches A Blockchain-Based Global Payments Network Using Stellar's Cryptocurrency
According to IBM, World Wire is the first blockchain network of its kind to integrate payment messaging, clearing and settlement on a single unified platform. Participants are also allowed to dynamically choose from a variety of digital assets for settlement. Currently, World Wire has enabled payment locations in 72 countries, with 48 currencies and 44 banking endpoints.
#Blog#AltCoins#Stablecoins#CryptoAssets#DFC
·forbes.com·
IBM Launches A Blockchain-Based Global Payments Network Using Stellar's Cryptocurrency
MakerDAO Votes to Increase Fees 4% on Ethereum Stablecoin DAI - CoinDesk
MakerDAO Votes to Increase Fees 4% on Ethereum Stablecoin DAI - CoinDesk
"MakerDAO token holders have again voted to increase fees charged to those taking out programmatic loans on the blockchain through its U.S. dollar-backed ethereum stablecoin DAI. The fourth and largest fee hike to the DAI “Stability Fee,” users who take out loans with MakerDAO to generate new DAI will soon be required to pay a 7.5 percent fee when closing out the loan."
#CryptoAssets#AltCoins#Stablecoins#Blog#DFC
·coindesk.com·
MakerDAO Votes to Increase Fees 4% on Ethereum Stablecoin DAI - CoinDesk
MakerDAO CEO on How Dai's Soft Peg to $1 "Became Really Soft"
MakerDAO CEO on How Dai's Soft Peg to $1 "Became Really Soft"
"Since February, MKR holders have agreed on three different raises of Dai’s “stability fees,” which are essentially interest rates people have to pay for borrowing Dai. First came two separate fee hikes of 0.5 percent. When those didn’t work, the community enacted an additional 2.5 percent increase. That didn’t quite stabilize Dai either, so the MakerDAO community is currently debating adding another two percent to the coin’s borrowing rate."
#CryptoAssets#AltCoins#Stablecoins#Blog#DFC
·breakermag.com·
MakerDAO CEO on How Dai's Soft Peg to $1 "Became Really Soft"