Stablecoin

According to early reports, Russia might be moving to legalize stablecoins for international payments to mitigate the impacts of international sanctions and exclusion from traditional financial systems. Stablecoins To Evade Sanctions The Russian government is reportedly contemplating legalizing stablecoins for international transactions to facilitate cross-border payments for Russian companies amid ongoing sanctions. This potential move, reported by the Izvestia news service, seeks to address the challenges faced due to exclusion from the SWIFT system. These stablecoins are pegged to stable…

TRON burned over 11 million TRX, showcasing a strong commitment to deflation and value growth. TRON leads stablecoin transactions with a 97.62% market share, surpassing Ethereum and other blockchains. On July 2nd, TRON made headlines by burning 11,531,634 TRX tokens. This important action shows the dedication of the network to deflation and value expansion. With a net negative production ratio of -6,465,123, TRON keeps its top position in the blockchain sector. These kind of token burns are vital in lowering…

The post Paxos Approved by Monetary Authority of Singapore for Stablecoin Issuance appeared first on Coinpedia Fintech News Digital asset company Paxos received full approval from the Monetary Authority of Singapore to offer digital payment token services in the country enabling it to issue stablecoins. The issuer, whose products include PayPal USD as well as its own Pax Dollar (USDP), also said DBS, the state’s biggest bank will be its primary banking partner for cash management and stablecoin reserve custody.…

Cryptocurrency firm Circle has achieved a significant milestone by securing registration as an electronic money institution (EMI) in France. This move grants Circle a crucial license to operate as a compliant stablecoin issuer under the European Union’s rigorous crypto laws.  Circle Breakthrough According to a CNBC report, the approved license positions Circle as the first global stablecoin issuer to achieve compliance with the European Union’s regulatory framework known as Markets in Crypto-Assets (MiCA).  This framework, considered a cornerstone in the…

Circle becomes the first global stablecoin issuer compliant with EU’s MiCA regulations for USDC and EURC. MiCA framework sets rigorous standards ensuring USDC and EURC’s legality as electronic money in Europe. Circle has made a groundbreaking announcement today, July 1st, marking a significant milestone in the financial landscape. The company has become the first global stablecoin issuer to comply with the new EU regulations, specifically the Markets in Crypto Assets (MiCA) framework. This development allows Circle to officially issue both…

Willemstad, Curaçao, Netherlands, June 27th, 2024, Chainwire Cloudbet, a leading cryptocurrency casino and sportsbook, announced the integration of Ethena USDe (sUSDe) and ENA. By integrating sUSDe on the platform, bettors have now the chance to receive returns even when their funds are not being wagered. The move introduces a new level of financial flexibility and efficiency for Cloudbet users. Traditionally, when users deposit funds into their gambling accounts, those funds remain idle until they place their bets. Cloudbet’s integration of…

Ripple’s new RLUSD stablecoin aims to enhance XRP’s utility and market presence. The potential launch of an XRP ETF could attract significant investor interest. Ripple president Monica Long says that XRP has been trading in the top 10 for so long. The probability of an XRP ETF is super high, and due to its various use cases, many investors would likely put their money in it. This development proceeded with Ripple’s Monica Long announcing an innovative stablecoin to ‘complement’ XRP…

The post Ripple Explores New Horizons with RLUSD Stablecoin and Potential XRP ETF appeared first on Coinpedia Fintech News Ripple’s President Monica Long, in an interview with Frank Chaparro on ‘The Scoop’, elaborated on the company’s plans to launch a US dollar stablecoin, RLUSD, and also discussed the potential for an XRP ETF. This follows a significant regulatory clarity gained from the US Courts last July concerning XRP’s status, not as a security but as a commodity, which has stimulated…

Ripple is set to launch a U.S. dollar stablecoin, complementing XRP and aiming to boost its utility and price. The integration of this stablecoin with XRP could potentially propel its price to $1, given the enhanced functionality and market reach. While the community eagerly awaits the anticipated launch of an XRP ETF, confirmed previously by Ripple President Monica Long in a CNF post, exciting news has surfaced. Monica Long has announced Ripple’s game-changing stablecoin strategy, set to revolutionize the crypto…