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Elixir’s Yield-Bearing DEUSD Stablecoin Sees 12,071% Growth in 24 Hours 

Elixir’s Yield-Bearing DEUSD Stablecoin Sees 12,071% Growth in 24 Hours Yield-bearing stablecoins are gaining traction, with the modular DPoS network Elixir recently introducing a new stablecoin, DEUSD, that offers holders the opportunity to earn returns from the crypto asset. Since Aug. 7, DEUSD’s market value has grown from $952,443 to $115.92 million. Yield-Bearing Stablecoins Continue to Rise In the midst of the rising popularity of […]

A $9.7 Billion Boom in 14 Days—Stablecoin Market Eyes Historic Peak

Hermetica Introduces Bitcoin-Backed Synthetic Dollar on Bitcoin L1

Hermetica Introduces Bitcoin-Backed Synthetic Dollar on Bitcoin L1Bitcoin-based decentralized finance (defi) protocol Hermetica has launched its BTC-backed synthetic dollar, USDH, on Bitcoin’s layer one (L1) through the Runes protocol. The company also announced plans to scale its Bitcoin-native defi operations using layer two (L2) solutions like Stacks. Hermetica Launches BTC-Backed Stablecoin USDH Hermetica‘s USDH offers Bitcoin holders a new way to maintain […]

A $9.7 Billion Boom in 14 Days—Stablecoin Market Eyes Historic Peak

Tether launches gold-backed, US dollar stablecoin Alloy

The new synthetic dollar is the first step in the rollout of a real-world asset tokenization platform, said Tether.

Tether is introducing a gold-backed stablecoin pegged to the U.S. dollar. It is the first tethered asset, the issuer declared. The new coin is called Alloy (aUSDT) and is mintable on the new Alloy by Tether platform.

According to the company, Alloy will be overcollateralized by Tether Gold (XAUt) — a token that provides ownership of physical gold — but pegged to the U.S. dollar. By definition, the new token is a synthetic dollar, which is designed to mimic the value and functionality of the U.S. dollar without being directly backed by it.

Alloy explained in an X post that tethered assets are “digital assets that aim to track the reference price of another asset through different stabilisation mechanisms.” Further, it said:

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A $9.7 Billion Boom in 14 Days—Stablecoin Market Eyes Historic Peak

Fintech Firm Galoy Raises $4 Million, Startup Introduces Bitcoin-Backed Synthetic Dollar Product

Fintech Firm Galoy Raises  Million, Startup Introduces Bitcoin-Backed Synthetic Dollar ProductOn Wednesday, Galoy, the firm behind El Salvador’s Bitcoin Beach Wallet, announced that the company raised $4 million in funding in an investment round led by Hivemind Ventures. On the same day, the startup launched a new product called Stablesats, a stablecoin concept that leverages derivatives contracts to create a bitcoin-backed synthetic dollar pegged to […]

A $9.7 Billion Boom in 14 Days—Stablecoin Market Eyes Historic Peak