Stablecoins Break $200B Mark as Ethena’s Yield-Bearing USDE Supply Soars 89%

December 9, 2024 Bitcoin.com

Stablecoins Break 0B Mark as Ethena’s Yield-Bearing USDE Supply Soars 89%

Altcoins

The stablecoin market has crossed an impressive $200 billion in value, with the top three fiat-pegged tokens experiencing notable growth over the past month. Ethena’s USDE has taken center stage, climbing over 89% since Nov. 9. USDE Supply Soars, USD0 Issuance Climbs a Staggering 91% As of Monday, Dec. 9, stablecoin data from coingecko.com and […]

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Treasury Department’s FSOC Says Stablecoins Represent Potential Risk to US Financial Stability

December 8, 2024 The Daily Hodl

Daily Hodl

The U.S Treasury Department’s Financial Stability Oversight Council (FSOC) says the role of stablecoins as a bridge between the digital asset market and the broader financial system warrants continued attention. In its 2024 annual report, the FSOC says that stablecoins – commodity or currency-pegged cryptocurrencies – do not have adequate safeguards against risks and failures. […]

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Over 400 million crypto wallets have a non-zero balance — Chainalysis

December 7, 2024 Coin Telegraph

2024 bull run

According to Chainalysis, real-world tokenized assets and investment vehicles continue to be major drivers of crypto adoption.

Over 400 million crypto wallets have positive balances as the bull market continues to heat up, according to Chainalysis. The current rally is attracting institutional and retail users to crypto, particularly those transacting in dollar-pegged stablecoins.

According to a Dec. 5 report, the rise in wallets with a non-zero balance represents a clear trend that crypto adoption is steadily increasing, despite wallet addresses not necessarily indicating the number of people using a blockchain.

“It is clear that we’re experiencing a seismic shift in both perception and usage,” the Chainalysis team wrote.

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Australian Regulator Seeks Public Input on Crypto-Asset Regulations

December 5, 2024 Bitcoin.com

bitcoin.com

The Australian Securities and Investments Commission (ASIC) is seeking public input on various issues, including the application of existing regulations to digital assets. A Well-Regulated Financial System for All The ASIC has released a consultation paper proposing updates to Information Sheet (INFO) 225 on crypto-assets. The regulator said the evolving digital asset market necessitates updating […]

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Ripple’s Stablecoin Near Launch: Final Regulatory Nod Expected Soon

December 5, 2024 Bitcoin.com

bitcoin.com

Ripple is preparing to launch its stablecoin, RLUSD, pending final regulatory approval. The company clarified: “We’re in lockstep with the NYDFS on final approval.” Ripple Prepares for Stablecoin Takeoff Ripple has clarified that its RLUSD stablecoin is awaiting final approval from the New York State Department of Financial Services (NYDFS), a necessary step before its […]

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Brazil Groups Stablecoins With Foreign Currency in New Regulatory Draft

December 3, 2024 Bitcoin.com

bitcoin.com

The Central Bank of Brazil has opened a public consultation on a regulatory draft that correlates the treatment of dollar-pegged stablecoins with foreign currency. The proposed rules, which will now be discussed with relevant stakeholders in the national cryptocurrency ecosystem, would require exchanges dealing in stablecoins to obtain two different operating licenses: one as a […]

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New York regulator set to approve Ripple’s RLUSD stablecoin: Report

November 29, 2024 Coin Telegraph

Coin Telegraph

According to data from CoinGecko, the total stablecoin market capitalization is over $196 billion as of Nov. 29.

The New York Department of Financial Services (NYDFS) is expected to approve Ripple Labs’ RLUSD stablecoin — an overcollateralized dollar-pegged stablecoin — in the coming days, sources revealed to Fox Business.

According to a Nov. 29 Fox Business report, approval of the dollar-pegged stablecoin by the New York financial regulator could see the product launch as early as Dec. 4. In August, Ripple Labs issued the following statement about the future of its ecosystem:

At the time the stablecoin was announced, fears swept over XRP (XRP) holders that the company would abandon the token to focus on its new stablecoin product for cross-border liquidity. However, Ripple Labs has not confirmed any such pivot.

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Over 90% of Ethereum Holders Are Now in Profit, Says Analytics Firm IntoTheBlock – Here’s What That Means

November 28, 2024 The Daily Hodl

crypto

New data from market analytics firm IntoTheBlock reveals that over 90% of Ethereum (ETH) holders are now in the green. In a new thread on the social media platform, the crypto intelligence platform says the second-largest digital asset by market cap is unlikely to feel sell pressure from those seeing losses since they hold under […]

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The Unstoppable Rise of Stablecoins: A 319% Boom Since 2021

November 28, 2024 Bitcoin.com

bitcoin.com

The stablecoin economy has grown substantially, surpassing its previous peak recorded just before Terra’s stablecoin collapsed in May 2022. Stablecoin Market Sees Triple-Digit Growth as Tether’s Market Cap Hits $132B Data reveals that the crypto economy is currently valued at $3.33 trillion, with stablecoins making up anywhere between 5.70% and 6.02% of the total, depending […]

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Paxos to Acquire Membrane Finance in Strategic Move to Make USD-Backed Stablecoins MiCA Compliant

November 19, 2024 Bitcoin.com

bitcoin.com

This strategic move is aimed at accelerating Paxos’ commitment to compliant financial products and success of its stablecoins. USD-Backed Stablecoins in Europe Paxos, a regulated financial institution and provider of tokenized products has announced an agreement in principle to acquire Membrane Finance, a blockchain infrastructure company, subject to regulatory approval. With this acquisition, Paxos is […]

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