Altcoins
A 100% reserve is a must for any stablecoin: Wemade CEO
A stablecoin that is not stable is an 'oxymoron,' said Henry Chang, CEO of South Korea-based blockchain game developer Wemade.
Danny Park
Lens
Stablecoin
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Regulation
Singapore floats tests for retail crypto traders, plans to regulate stablecoins
The central bank is also considering options such as banning crypto firms from offering credit facilities, leverage or staking services to retail traders.
Pradipta Mukherjee
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Altcoins
Hong Kong, BIS explore CBDC-backed stablecoins in retail prototype
The BIS Innovation Hub Hong Kong Centre has completed its CBDC study, Project Aurum, which examined the feasibility of intermediated CBDCs and CBDC-backed stablecoins.
Timmy Shen
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Altcoins
South Korea’s MIR4 maker Wemade launches stablecoin
WEMADE, a South Korean blockchain game developer, recently launched its stablecoin, WEMIX$, for growing its blockchain ecosystem, which houses NFTs and DeFi.
Danny Park
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Regulation
Fed’s top bank watchdog eyes new regulation for banks doing crypto
Crypto-asset related activities may pose “novel risks” to banks and their customers, prompting the U.S. Federal Reserve to develop further regulations, Fed vice chair for supervision Michael Barr said in a speech Wednesday at D.C. Fintech Week. See related article: U.S. Fed has growing interest in CBDCs, says Jeng at Crypto Council for Innovation Fast […]
Danny Park
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Regulation
Singapore eyes blockchain-based payment systems for faster cross-border transactions
The Monetary Authority of Singapore is exploring blockchain-based payments solution to solve the challenges in cross-border transactions. See related article: Singapore warms up to crypto industry — on its own terms Fast facts The current state of cross-border payments “is slow, costly, opaque, and inefficient, relying on an archaic network of correspondent banks,” Ravi Menon, […]
Pradipta Mukherjee
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Regulation
Tether says commercial paper holdings now less than US$50 mln
Tether Holdings Limited, the issuer behind the world’s largest stablecoin USDT, reduced its holdings of commercial paper to less than US$50 million as of Sept. 30, according to a tweet by Tether Chief Technology Officer Paulo Ardoino. See related article: SEC fines Tether’s former auditor US$1 mln over accounting malpractice Fast facts In the tweet, Ardoino also […]
Lachlan Keller
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Altcoins
USDC coming to five additional blockchain ecosystems
Circle Internet Financial, Inc., the global financial technology company behind the USD Coin (USDC) stablecoin, will soon be making the token available on five additional blockchains, Chief Product Officer Nikhil Chandhok said on Wednesday at the company’s Converge22 conference. See related article: U.S. Fed has growing interest in CBDCs, says Jeng at Crypto Council for […]
Dylan Butts
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Regulation
Are stablecoins like Tether ready for regulatory scrutiny?
The Terra UST disaster is spurring regulators to converge on global stablecoin standards, writes Michael Shing of XREX. But major issuers still fall short.
SlamX
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Altcoins
Terra Classic surges 50% as Binance offers token burning mechanism
Terra Classic (LUNC), the original crypto token of the Terra-LUNA blockchain that collapsed back in May, gained over 50% on Tuesday following an announcement by Binance, the world’s largest crypto exchange by volume, that it would support a burn mechanism for the network. See related article: For South Korea, making Do Kwon pay for his […]
Lachlan Keller
