#stablecoin

Tether, the issuer behind USDT, has invested in StablR, a European stablecoin provider, as MiCA regulations loom. The move coincides with Tether’s decision to phase out its euro-pegged stablecoin EURT.

Ripple’s RLUSD stablecoin has successfully passed all regulatory reviews and received final approval from the New York Department of Financial Services. Following the announcement, the team is already preparing for future exchange listings.

Schuman Financial steps into the stablecoin arena with EURØP, a euro-backed token designed to comply with MiCA regulations and offer unmatched transparency.

Binance, a leading crypto exchange by trading volume, announced the launch of a new asset, BFUSD. The news has been actively shared on social media, with many users on X assuming BFUSD is a stablecoin.

Several major financial companies have come together to create the Global Dollar Network, an open stablecoin network aimed at accelerating the global adoption of stable digital assets.

Tether, the issuer of stablecoin USDT, reported $2.5 billion in net profit for Q3 2024. Independent auditing firm BDO confirmed that Tether’s total profit for the first nine months of 2024 reached $7.7 billion, with all declared reserves fully verified.

On October 25, the Wall Street Journal reported that U.S. authorities have launched an investigation into Tether, the leading issuer of stablecoin USDT. In response, Tether’s CEO Paolo Ardoino issued several remarks.

Paolo Ardoino, CEO of Tether, voiced apprehensions about Europe’s MiCA regulation (Markets in Crypto Assets), which he believes could pose substantial risks to stablecoin issuers.

In addition to Bitcoin (BTC), Ethereum (ETH), Solana (SOL), and the stablecoin Tether (USDT), MoonPay users can now add XRP to their portfolios. This expansion aligns with the growing demand for this cryptocurrency and broadens the platform’s capabilities.

Paxos, a fintech company focused on building blockchain and digital asset infrastructure, has launched a new platform designed for stablecoin transactions.

The Polygon community has proposed a new liquidity program to deploy DAI, USDC, and USDT stablecoin reserves into yield-generating pools.

Citing shifts in European stablecoin regulations, Tether has announced it will stop supporting its EUR₮ stablecoin.

Singapore Gulf Bank is preparing to acquire a company specializing in stablecoin payments. To fund the acquisition, the bank aims to raise at least $50 million in a new financing round. The deal is expected to close by early 2025.

Blockchain-based and stablecoin-focused payments platform BVNK aims for a new funding round. According to Bloomberg, the startup, which is backed by Tiger Global Management, is in talks with potential buyers to raise at least $50M.

On October 31, Paxos, a prominent blockchain and tokenization infrastructure provider, launched its new stablecoin, the Global Dollar (USDG), pegged to the U.S. dollar. USDG has been developed under the strict guidelines of the Monetary Authority of Singapore (MAS).

Circle, the issuer behind the USDC stablecoin, has entered into a memorandum of understanding with Hong Kong’s largest telecommunications provider, HKT, to jointly create a blockchain-based solution for loyalty program management.

World Liberty Financial, the project championed by Donald Trump’s sons and fueled by a recent $14 million private investment, is moving closer to releasing its USD-pegged stablecoin. According to Decrypt, the team is now focused on solidifying the technical backbone for the new coin.

Stripe, a payments services company, acquired the stablecoin platform Bridge for $1.1 billion, according to TechCrunch founder Michael Arrington’s post on X.

Tether, the issuer behind the USDT stablecoin, has published a new report showcasing user statistics. The release comes shortly after the company debuted its documentary, “Stability and Freedom in Chaos: The Story of USD₮.”

Ripple, a leading digital asset infrastructure provider, has announced its partners for the launch of the RLUSD stablecoin. Bitstamp, Uphold, Bitso, MoonPay, Independent Reserve, CoinMENA, and Bullish will be collaborating on this initiative. Market makers B2C2 and Keyrock are also on board to support RLUSD’s liquidity.