#stablecoin

S&P Global has launched a stablecoin stability assessment. This system considers several factors including the underlying technology, governance, legal and regulatory framework, liquidity, and third-party dependencies among others.

In an effort to mitigate risks associated with other stablecoins, such as centralized and algorithmic ones, Gyroscope has launched the Gyro Dollar (GYD), a decentralized stablecoin, on the Ethereum blockchain. The project has attracted investments from key industry players like Galaxy and Placeholder.

Circle, the issuer of the USDC stablecoin, is expanding its footprint in Taiwan through a partnership with crypto exchange BitoGroup and convenience store chain FamilyMart.

Deutsche Bank and SC Ventures have successfully executed the first stablecoin swaps within the Universal Digital Payments Network (UDPN). This platform was established to facilitate transactions using stablecoins and Central Bank Digital Currencies (CBDC).

Tether, the company behind the USDT stablecoin, has announced the freezing of 32 addresses, totaling $873,000, linked to terrorism and military actions in Israel and Ukraine.

The Real USD stablecoin (USDR), backed by crypto assets and real estate, has lost its peg to the dollar, resulting in nearly a 50% price drop.

The head of business operations at Coinbase reported that a year ago, Alameda Research minted USDT worth $39.55 billion or about 47% of the total stablecoin supply.

Wintermute, an algorithmic trading firm in digital assets, accuses NEAR Foundation and Aurora of failing to uphold their agreement involving the conversion of $11 million worth of the now-defunct USN stablecoin to USDT. These tokens originated from the now-defunct FTX exchange and were acquired by Wintermute in exchange for fiat currency with the assurance of a complete conversion.

JPMorgan Coin is a stablecoin designed to maintain a 1:1 peg with the U.S. dollar, offering stability and efficiency in transactions.

Stablecoin issuer TrueUSD experienced a security breach via a third-party provider, resulting in the exposure of customers’ first and last names, email addresses, phone numbers, addresses, dates of birth, bank details, transaction histories, and blockchain account public addresses.

The Hong Kong Virtual Asset Consortium (HKVAC) has announced a decision to replace the stablecoin USDC and introduce Ripple into two of its crypto indexes, which are based on the top 5 cryptocurrencies.

On October 6, 2014, the first-ever USDT transaction took place, marking the beginning of this stablecoin's journey. Since then, USDT has weathered its fair share of FUD (Fear, Uncertainty, Doubt). However, it's worth noting that USDT has also had several instances where it temporarily lost its peg to the US dollar.

Bridging the gap between fiat and the stablecoin USDC, MoneyGram has unveiled its non-custodial crypto wallet. The payment solution ensures compliance with all KYC norms and maintains adherence to sanction regulations. “We’re turning MoneyGram into a global ATM concept using blockchain,” shared CEO Alex Holmes.