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Stablecoins

Tether Cut Commercial Paper Reserve by 17% in Q1, Accountants Say

The reduction has continued with a further 20% cut since April 1, which will be reflected in the Q2 report, the stablecoin issuer said. Tether reduced its commercial paper holdings by 17% from $24.2 billion to $20.1 billion in the first quarter, according to its latest attestation report. The majority of this $20.1 billion (around $18 billion) …

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Investors withdraw over $7 billion from tether, raising fresh fears about stablecoin’s backing

KEY POINTS Tether’s circulating supply has slipped from about $83 billion a week ago to less than $76 billion on Tuesday, according to data from CoinGecko. The so-called stablecoin slipped below its intended $1 peg Thursday amid panic over the collapse of rival token terraUSD. The situation has once again placed the subject of the …

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Tron Blockchain Launches USDD Decentralized Stablecoin by Tron DAO Reserve

Justin Sun, the founder of the Tron blockchain network, said that he has launched a USDD decentralised stablecoin pegged to the US dollar at a ratio of 1:1 through the Tron DAO Reserve in cooperation with top blockchain institutions. Tron, known as TRX, is for decentralising the web. The official website describes Tron as “one of the largest blockchain-based operating …

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3 Stablecoins Command Positions in the Crypto Economy’s Top 10, Another Fiat-Pegged Token Is Close to Joining

The last five weeks has been brutal for digital currencies as more than 21% has been shaved off the crypto economy’s fiat value since March 27. While all the crypto assets combined shed roughly 0.8% in the last 24 hours, bitcoin has lost 9.4% since last week and seven day statistics show ethereum has dropped …

3 Stablecoins Command Positions in the Crypto Economy’s Top 10, Another Fiat-Pegged Token Is Close to Joining Read More »

Stripe to Let Clients Make Payments in USDC Stablecoin via Polygon – Starting With Twitter

Twitter will be the first company to test this option by paying earnings via crypto to content creators who use its monetization products. Stripe will be using Polygon to allow payments in crypto. Payments processor Stripe will use Ethereum scaling platform Polygon in a move that will enable Stripe’s customers to pay sellers, freelancers, content …

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Crypto firm Tether to further reduce holdings of commercial debt in stablecoin reserves

KEY POINTS Tether plans to reduce its holdings of commercial debt in its reserves, Chief Technology Officer Paolo Ardoino told CNBC. Tether holds short-term corporate debt but does not disclose from which companies, which has raised transparency concerns. But Ardoino said Tether, the issuer of the USDT stablecoin, will cut its holdings of commercial paper …

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UK to Accept Stablecoins as Form of Payment, Plans to Mint NFT by this Summer

The UK announced on Monday to accept stablecoins as a valid form of payment and has set plans to make Britain a global hub for crypto-asset technology and investment. The government plans to regulate stablecoins to pave a way for their use in the UK as a legal form of payment and also create conditions for stablecoins …

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Fintechs See Strongest Payments Challenge From Stablecoins and CBDCs, Not Bitcoin: Cowen

The team at Cowen recently held fireside chats with executives from PayPal and Visa, among others. While it’s still early innings for crypto, management teams at leading fintech companies regard stablecoins and possibly central bank digital currencies (CBDCs) as more “elegant” than bitcoin (BTC) with respect to payments, according to a research report from financial services firm …

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USDT PILOT BRINGS TOKENS TO BITCOIN’S LIGHTNING NETWORK

The first USDT stablecoin transaction on a Lightning channel happened earlier this week as Synonym showcases broader use cases for Bitcoin. Bitcoin company Synonym sent the first USDT stablecoin transaction on the Lightning Network earlier this week to demonstrate how Bitcoin and Lightning could be leveraged for cheap and quick issuance and transfer of tokens and credit. …

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