Ethereum layer 2s hold $13.5B stablecoin supply

December 20, 2024 Coin Telegraph

Ethereum layer 2s hold .5B stablecoin supply

Ethereum layer-2 networks now lock over $13.5 billion in stablecoins, driving total market capitalization to $205 billion.

Stablecoins locked onto Ethereum layer-2 networks have reached a new all-time high, showcasing rising demand for cryptocurrencies.

The stablecoin supply to all blockchains combined is dominated by Tether (USDT), USD Coin (USDC) and Ethena’s stablecoin, USDe.

As of Dec. 20, the Ethereum blockchain held $13.5 billion worth of stablecoins, according to data from Tie Terminal, a crypto data platform for institutions and Cointelegraph Markets Pro. The overall stablecoin circulation crossed $205 billion, showing the ecosystem’s growing relevance in real-world use cases.

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Stablecoins Should Become Mass Export Product of the US, Says Circle CEO Jeremy Allaire

December 18, 2024 The Daily Hodl

Altcoins

The chief executive of stablecoin issuer Circle says that dollar-pegged digital assets should become a mass export product of the United States. In a new interview on CNBC Television, Circle CEO Jeremy Allaire says that the US should promote “full reserve digital dollars” as a means of preserving the value of the US dollar. Allaire […]

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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 […]

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Coinbase Will Surpass Charles Schwab As Most Valuable Brokerage in the World, According to Bitwise – Here’s Why

December 12, 2024 The Daily Hodl

BASE

Crypto asset manager Bitwise says that top US-based crypto exchange Coinbase will usurp Charles Shwab as the world’s most valuable brokerage. In a new report, Bitwise says it envisions Coinbase’s stock (COIN) reaching a price tag of $700 in 2025 – more than double its current price – making it surpass financial services titan Charles […]

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Stablecoins Becoming Increasingly Viable as Staking Collateral, Research Shows

December 11, 2024 Bitcoin.com

bitcoin.com

The research, which focuses on Circle’s USDC stablecoin, is part of a series of posts on restaking by crypto research firm Gauntlet. USDC Provides Unique Benefits as Restaking Collateral Restaking – the practice of staking cryptocurrencies like ether (ETH) on multiple protocols to generate additional yield – can now be accomplished with ERC20 tokens, including […]

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USDC Becomes First Stablecoin To Gain Compliance With New Canadian Crypto Asset Requirements

December 6, 2024 The Daily Hodl

Altcoins

Circle announced this week that USDC became the first stablecoin to gain compliance with new Canadian digital asset regulations. Canada’s new regulations call for delisting noncompliant stablecoins after December 31st. Circle’s compliance means USDC, which aims to maintain a 1:1 peg with the US dollar, can trade on crypto exchanges in the Canadian market, according […]

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Circle says USDC is first stablecoin to meet Canada’s new listing rules

December 6, 2024 Coin Telegraph

Canadian Securities Administrators

Non-compliant stablecoins listed on Canadian-registered crypto platforms will be required to be delisted by Dec. 31, 2024.

Stablecoin issuer Circle says its United States-dollar pegged token has become the first of its kind to comply with incoming listing rules set out by Canada’s securities regulator — allowing it to continue to be listed on licensed crypto trading platforms in 2025.

Circle USD (USDC) met all requirements laid out in the Canadian Securities Administrators’ (CSA) Value-Referenced Crypto Asset (VCRA) regime, the firm said in a Dec. 4 statement.

A VRCA is a crypto asset that is designed to maintain a stable value over time by referencing the value of a fiat currency or any other value or right, or combination thereof.

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Circle Commits to Updated Canadian Stablecoin Regulatory Requirements

December 5, 2024 Bitcoin.com

bitcoin.com

The updated rules were introduced last year and outline several requirements for crypto exchanges and stablecoin issuers. USDC Issuer Circle Claims It Was First to Comply With Canada’s Interim Listing Rules Stablecoin issuer Circle, whose flagship product USDC has a current market capitalization of roughly $40 billion, issued a formal undertaking on Wednesday to Canadian […]

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Coinbase Terminates USDC Yield Program for Users in the European Economic Area Citing New EU Regulations

November 30, 2024 The Daily Hodl

coinbase

The top US-based crypto exchange by trading volume is ending its USDC Rewards program for European users. According to a screenshot shared by Marina Markezic, Coinbase is letting European Economic Area (EEA) clients know that USDC staking is coming to an end due to Markets in Crypto-Assets (MiCA) regulations. “MICA is kicking in -> Sunsetting […]

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Europe’s Coinbase users frustrated as MiCA forces sunset of USDC yield

November 29, 2024 Coin Telegraph

Circle

Some Coinbase users are airing frustrations at the region’s MiCA laws, which are forcing the exchange to stop offering yields on USDC in the European Economic Area.

Coinbase users in Europe shared frustrations over the region’s crypto regulations after the exchange said it is ending its yield offering on the dollar-pegged stablecoin USD Coin (USDC) for some users.

In a Nov. 28 email that multiple recipients posted on X, Coinbase said due to the European Union’s Markets in Crypto-Assets (MiCA) laws for stablecoins, it “will be sunsetting the USDC rewards program” on Dec. 1.

The change will affect customers in the European Economic Area (EEA), a 30-nation bloc that includes all 27 EU member states along with Iceland, Norway and Liechtenstein. The email said those eligible will still accrue rewards for the next two days until Nov. 30.

USDC

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