Stablecoin

US Senators Kirsten Gillibrand (D-NY) and Cynthia Lummis (R-WYO) will soon be introducing a new legislation in Senate that would offer two paths to stablecoin issuers.  Sen. Gillibrand Plans Stablecoin Legislation The saga of crypto regulation in the US continues as another legislation for regulating stablecoins is waiting to be brought to the Senate. Democratic senator from New York, Kirsten Gillibrand, has revealed that negotiations are ongoing for a new stablecoin legislation, which could be introduced in the Senate at…

Fintech firm and stablecoin issuer Circle has announced that native USDC is now available on the leading layer 2 rollup, zkSync, thereby making it accessible to developers and users without the need for bridging. With the latest inclusion, USDC is now supported on a total of 16 blockchain networks. USDC on zkSync In its official blog post on April 9th, Circle revealed that numerous prominent ecosystem applications and DeFi protocols are anticipated to embrace native USDC on zkSync for various…

The post Stablecoin Regulation Coming This Week: Here’s What Traders Can Expect appeared first on Coinpedia Fintech News US Senators Kirsten Gillibrand and Cynthia Lummis are preparing to introduce a pro-crypto stablecoin bill in the Senate. This proposed legislation aligns with Bitcoin’s original vision as a feasible payment method. The bill aims to foster growth and innovation in the crypto community and ensure regulatory oversight to eliminate bad actors. Eradicating Malpractices: Timely Legislative Effort The announcement was made during the…

The post Ripple Enters Stablecoin Market as Tether’s Success Sparks Competition appeared first on Coinpedia Fintech News With Tether’s remarkable earnings in 2023 setting a benchmark for stablecoin profitability, Ripple seizes the opportunity to launch its USD-backed stablecoin, aiming to challenge Tether’s dominance and tap into the lucrative stablecoin market. Tether’s Financial Success and Ripple’s Strategy Tether’s annual net income in 2023 was an impressive $6.2 billion, which shows the high profitability potential within the stablecoin sector.  Recognizing this opportunity,…

Solana’s stablecoin supply surges past the $13 billion milestone. NuggetRush allows its users to mine in different locations for valuable minerals.  Ripple remains bullish despite its legal challenges with the SEC. Over the past week, the supply of stablecoins on the layer-1 blockchain network Solana (SOL) has surpassed $3 billion, having grown gradually since the start of the year. In the last three months, the stablecoin supply on the network has grown by 55.72% to reach $3.12 billion, according to…

Singapore, Singapore, April 8th, 2024, Chainwire DigiFT, the first on-chain Real World Asset (RWA) exchange regulated by the Monetary Authority of Singapore (MAS), is proud to announce the launch of its second-series RWA depository receipt (DR) token. The DigiFT USD Money Market Fund Token (DMMF), aims to offer a new cash management option for investors interested in exploring alternatives within the crypto space. According to the company, the launch of DMMF token comes at a time when the demand for…

A report from the World Bank back in 2021 has resurfaced, under which it identified Ripple’s XRP and Stellar’s XLM as ideal stablecoins for cross-border payments. World Bank claimed in its report that the two tokens “enable faster and more efficient cross-border payments relative to correspondent banking.” Ripple’s XRP and Stellar’s XLM are two cryptocurrencies that can transform cross-border funds transfers, unlocking value through fast and efficient transactions, according to a World Bank report that recently resurfaced. The report, authored…

Ripple is set to issue a stablecoin on its XRP Ledger, and according to one expert, the projected growth in the stablecoin market cap to $2.8 trillion could flow into the XRP ecosystem. The expert says that XRP will surge by 20x by 2028 to hit $12, pushing its market cap to $658 billion, making it more valuable than Visa, JPMorgan Chase and Tesla. Ripple recently announced that it intends to launch a stablecoin on the XRP Ledger. As Crypto…

Ripple Labs’ announcement of its plan to introduce a native stablecoin on the XRP ledger provides a major thrust for the XRP price rally. Within 24 hours of the stablecoin launch news, XRP Open Interest surged from $899 million to $981.2 million, representing a 9% increase. The XRP price has been on the uptrend in the last two days gaining over 3% and moving closer to $ 0.60 with its market cap surging to $32.5 billion. Also, the recent thrust…