Solana adds $1B worth of stablecoins in December

December 31, 2024 Coin Telegraph

Solana adds B worth of stablecoins in December

The network now holds approximately $5 billion worth of stablecoins, mostly made up of USDC.

Solana onboarded an additional $1 billion in stablecoin total value in December, primarily in USD Coin (USDC), according to data from DefiLlama.

The inflows highlight accelerating stablecoin adoption and the Solana network’s rise to prominence in 2024, particularly in decentralized finance (DeFi).

Solana now hosts approximately $5 billion in stablecoin total value locked (TVL), with nearly $4 billion of that comprising USDC, according to the data.

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Tether shifts $780M in Bitcoin to reserve — its biggest move in 9 months

December 31, 2024 Coin Telegraph

Bitcoin

Stablecoin issuer Tether has moved over 8,400 Bitcoin to its reserve in its biggest move since March.

Stablecoin issuer Tether moved nearly $780 million worth of Bitcoin into its corporate Bitcoin reserve in its largest move since March.

Arkham Intelligence shows wallets tagged for Tether’s Bitcoin (BTC) reserve as having received separate transfers of around 7628.9 BTC and 775.6 BTC on Dec. 30, totaling just under 8404.5 BTC.

The latest BTC additions are worth a total of $777.4 million, with Bitcoin hovering around $92,500. It brings Tether’s total holdings to 83,759 BTC, worth just under $7.75 billion.

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EU silence does not make USDT MiCA-compliant, says exec

December 27, 2024 Coin Telegraph

Binance

While MiCA’s implementation phase is ending on Dec. 30, 2024, there is also a transitional 18-month phase in MiCA’s total 36-month timeline.

The European Union’s cryptocurrency regulations are set to take full effect in just a matter of days, but there’s still a significant amount of uncertainty on Tether’s USDt stablecoin.

United States crypto exchange Coinbase delisted Tether’s USDt (USDT) in mid-December, citing compliance with the EU’s Markets in Crypto-Assets Regulation (MiCA).

After Coinbase’s USDT delisting, the stablecoin has continued trading across the EU, with many exchanges apparently awaiting more clarity from European authorities on USDT’s compliance with MiCA.

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Ripple’s Stablecoin Hits Singapore – Regulated Exchange Brings RLUSD to Transform Markets

December 26, 2024 Bitcoin.com

bitcoin.com

Ripple’s USD-backed stablecoin, Ripple USD, debuts in Singapore on regulated exchange Independent Reserve, unlocking faster, cost-efficient cross-border transactions. Ripple USD Debuts in Singapore – Independent Reserve Unlocks Seamless Liquidity Independent Reserve (IR), a licensed crypto exchange in Singapore, announced on Tuesday the launch of Ripple USD (RLUSD), Ripple’s new USD-backed stablecoin, on its platform. This […]

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Stablecoin predictions for 2025: What’s next for the $200B market?

December 24, 2024 Coin Telegraph

Stablecoin predictions for 2025: What’s next for the 0B market?

Circle

Crypto industry executives share with Cointelegraph what they expect for the now $200 billion stablecoin market next year.

Crypto stablecoins have seen massive successes in 2024, with the fiat currency pegged assets reaching an all-time high circulating supply of over $200 billion in December.

Stablecoins — cryptocurrencies designed to mimic the value of a currency, most popularly the US dollar — are an integral part of the crypto ecosystem and account for 5% of the crypto market value.

With 2025 approaching, Cointelegraph has rounded up the industry’s forecasts and predictions on what key stablecoin trends to expect next year.

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Ripple Labs’ RLUSD stablecoin: Everything you need to know

December 19, 2024 Coin Telegraph

Coin Telegraph

RLUSD, a stablecoin by Ripple Labs, is pegged to the US dollar, ensuring a 1:1 value backed by cash or equivalents.

RLUSD is a stablecoin developed by Ripple Labs, the organization behind the XRP cryptocurrency. RLUSD, or Ripple Labs USD, aims to offer a stable digital currency for use in transactions and trading.

As a stablecoin pegged to the US dollar, 1 RLUSD is worth $1. The 1:1 peg is maintained with backing for every RLUSD coin. These collateral assets are either US dollar deposits or cash equivalents.

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Ripple USD stablecoin set for trading debut tomorrow

December 16, 2024 Coin Telegraph

Coin Telegraph

Ripple’s RLUSD stablecoin is set for its trading debut on Dec. 17 on platforms including Uphold, MoonPay, Archax and CoinMENA, the company said.

Ripple, the blockchain company behind XRP, confirmed that its Ripple USD (RLUSD) stablecoin will begin trading globally tomorrow, Dec. 17.

RLUSD, a new United States dollar-backed stablecoin developed by Ripple, is set for a global exchange debut, the firm announced to Cointelegraph on Monday, Dec. 16.

The announcement came after the New York Department of Financial Services (NYDFS) approved the RLUSD launch, on Dec. 10, greenlighting the stablecoin’s entrance into global financial and cryptocurrency markets.

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Aave DAO considers exiting on Polygon after proposed bridge

December 16, 2024 Coin Telegraph

Aave

Aave founder Marc Zeller has proposed new risk parameters on Polygon in response to plans to farm over $1 billion in stablecoin reserves.

The Aave community is deliberating the possibility of ceasing operations on Polygon, citing concerns over an upcoming review of the risk profile of bridged assets on the network.

A Dec. 13 proposal initiated by Aave chain founder Marc Zeller seeks the revision of risk parameters of instances in Aave v2 and Aave v3 on the Polygon network.

According to Zeller, the move is a response to a proposal on Polygon’s governance requesting to use over $1 billion in stablecoin reserves to farm on other protocols, like Morpho and Yearn.

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Binance and Stablecoin Issuer Circle Announce Strategic Partnership To Boost Adoption of USDC

December 12, 2024 The Daily Hodl

Altcoins

Leading crypto exchange Binance and stablecoin issuer Circle are teaming up to expand the adoption of USDC. In a statement, Binance says the strategic partnership, which was announced at the Abu Dhabi Finance Week on Wednesday, will make USDC more available across its suite of products and services. The exchange says the collaboration will enable […]

The post Binance and Stablecoin Issuer Circle Announce Strategic Partnership To Boost Adoption of USDC appeared first on The Daily Hodl.

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Coinbase prepares to delist Tether’s USDT stablecoin in Europe

December 12, 2024 Coin Telegraph

Coin Telegraph

Coinbase said it will assess reenabling services for stablecoins that achieve MiCA compliance at a later date.

Cryptocurrency exchanges in Europe are preparing to delist locally noncompliant stablecoins as European crypto regulations near an enforcement deadline.

Coinbase Europe, Coinbase Germany and Coinbase Custody International will delist Tether’s USDt (USDT) and five other stablecoins on Dec. 13, Coinbase told Cointelegraph on Thursday.

“Based on the latest information, we currently expect we will have to restrict services for the following assets: USDT, PAX, PYUSD, GUSD, GYEN, and DAI,” Coinbase said, referring to the coins as assets restricted by Europe’s Markets in Crypto-Assets Regulation (MiCA).

Stablecoin

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