Stablecoin

ChangeNOW, a leading cryptocurrency exchange platform, announces the USDT TON (USDt) stablecoin listing on its platform. This strategic addition marks a significant enhancement to ChangeNOW’s offerings, elevating the crypto exchange’s experience for beginners and seasoned traders alike. In celebration of this collaboration, ChangeNOW is introducing a 7-day promotion where users may swap their cryptocurrencies into USDT TON with zero service commission. This limited-time offer underscores ChangeNOW’s dedication to providing exceptional value and promoting the adoption of this new stablecoin. Please…

The post Synthetic’s sUSD Stablecoin De-Pegs, Plummets to $0.92 appeared first on Coinpedia Fintech News Synthetic’s decentralized stablecoin, sUSD, fell below its $1 peg, reaching as low as $0.92 before recovering to $0.96 due to increased selling on decentralized exchanges. Chao Labs discovered that the de-pegging was triggered by a major liquidity provider withdrawing from Curve’s sBTC/wBTC liquidity pool. As the stablecoin managed to recover to $0.96, a user exchanged their sBTC for sUSD, amassing 4.48 million sUSD, and continued…

The post Tether Teams Up with RAK DAO to Drive Bitcoin & Stablecoin Adoption in UAE appeared first on Coinpedia Fintech News Amid controversies and scams, Tether is all set to expand its wings. Tether Partners with RAK DAO to Promote Bitcoin and Stablecoin Education in Ras Al Khaimah. In 2024, the Middle East saw a significant rise in cryptocurrency adoption, with the average daily number of traders reaching 500,000, marking a 166% increase from the previous year, as per…

The post Philippines’ Central Bank Sanctions Stablecoin Pilot by Coins.ph appeared first on Coinpedia Fintech News The Philippines’ Central Bank has approved the digital currency exchange Coins.ph to pilot a Philippine Peso-backed stablecoin, PHPC. The pilot will assess the stablecoin’s benefits in real-world applications and monitor its impact on the existing financial ecosystem. The program is part of the BSP’s Regulatory Sandbox Framework, supported by Coins.ph’s cash and equivalents held in Philippine bank accounts. Coins.ph CEO Wei Zhou stated during…

The post XRP News: Ripple’s Defense Against SEC Stablecoin Claims Bolstered by Binance Case appeared first on Coinpedia Fintech News In recent developments, Ripple is facing the SEC head-on in the legal battle. Ripple’s Chief Legal Officer, Stuart Alderoty, deemed the SEC’s arguments in support of its motion for remedies and final judgment weak, signaling potential progress towards the end of the lawsuit. Could this be the turning point XRP holders have been waiting for? Here’s the scoop. SEC vs.…

Ripple plans to launch a stablecoin in June, aiming to offer stability by pegging its value to the U.S. dollar. The SEC has raised concerns about Ripple’s stablecoin, alleging it could be an “unregistered crypto asset.” Ripple’s Chief Technology Officer, David Schwartz, recently hinted at the imminent launch of the company’s stablecoin during the XRP Las Vegas conference. With the stablecoin backed by U.S. dollar deposits and government bonds, Ripple aims to provide stability and security with a 1:1 peg…

The post Ripple Forecasts $3 Trillion Stablecoin Market by 2028 appeared first on Coinpedia Fintech News Ripple predicts the stablecoin market will surge to $3 trillion by 2028, planning to launch its USD-backed stablecoin in June amidst SEC scrutiny. The stablecoin aims for stability and security as it is set 1:1 to the USD. David Schwartz, Ripple’s CTO, suggests a June launch during the XRP Las Vegas conference. Also, the stablecoin leverages the strengths of XRP Ledger for institutional and…

On May 7, the crypto oracle solutions provider announced that RD Technologies was integrating Chainlink CCIP and Proof of Reserve to power its Hong Kong dollar stablecoin. Chainlink’s Cross-Chain Interoperability Protocol will be integrated to enable secure and reliable cross-chain transfers of HKDR and easier access to the new stablecoin. Additionally, the firm is also adopting Chainlink’s Proof of Reserve (PoR) to help provide reliable on-chain verification of HKDR’s reserve backing, according to the announcement. Chainlink Delving Deeper Into RWA…

The post How Ripple’s Stablecoin Launch Could Fuel XRP Price to $5 appeared first on Coinpedia Fintech News The XRP price is $0.53215495, a change of 0.92% over the past 24 hours. Where do you see XRP going? Recent developments within the Ripple ecosystem have given hope, with many speculating that XRP’s price could surge to $5 shortly. Despite occasional spikes, XRP has struggled to break free from its average value of around $0.5. Notably, in July 2023, a notable…