Stablecoins

Vodafone Is the Latest Big Company to Quit Facebook-Founded Libra Association

British telecom conglomerate Vodafone has become the eighth company to pull out of the Libra Association, the governing council for the Facebook-created global digital currency initiative, CoinDesk has learned.  Vodafone and Libra both confirmed Tuesday that the company is no longer part of the consortium. Vodafone will dedicate resources previously intended for Libra to its …

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Paxos Launches Automatic Conversions Between Bank Deposits and Stablecoins

Paxos announced Tuesday a new feature allowing customers to automatically wire transfer funds from their bank accounts into either Paxos Standard or Binance USD stablecoins. Conversely, any PAX or BUSD sent to the designated address will be automatically wired back to the individual’s bank account in USD. Zach Kwartler, senior product manager at Paxos, told …

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The Prospect of Building a New International Monetary System Is Getting Real

This is part of a series of op-eds previewing the World Economic Forum in Davos, Switzerland. CoinDesk will be on the ground in Davos from Jan. 20–24 chronicling all things crypto at the annual gathering of the world’s economic and political elite. Follow along by subscribing to our pop-up newsletter, CoinDesk Confidential: Davos. Jeremy Allaire is co-founder, chairman …

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Voyager to Offer Interest on Three Newly Listed Stablecoins

Cryptocurrency brokerage Voyager Digital has listed three stablecoins and will soon allow customers to earn interest on their holdings. Announced Wednesday, Voyager said its support of tether (USDT), USD coin (USDC) and true USD (TUSD) would enable traders to better manage risk and fund their accounts without going through a bank. “Adding these three new …

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WisdomTree Mulls New Stablecoin as US Money Manager Drives Toward Crypto

WisdomTree, an asset manager specializing in exchange-traded funds, is vying to become one of the first established U.S. financial firms to offer clients digital assets, including a so-called stablecoin whose value is closely linked to the U.S. dollar.  New York-based WisdomTree, which oversees about $63 billion, views cryptocurrencies and digital assets as a natural extension …

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Australians Won’t Use Libra, Believes Central Bank

The Reserve Bank of Australia (RBA) has expressed doubt over whether cryptocurrencies, including Libra and central bank digital currencies (CBDCs), will ever become viable solutions. In a submission (pdf) to the Select Committee on Financial Technology and Regulatory Technology just before Christmas, RBA officials were skeptical that cryptocurrencies, in their current and future forms, would ever …

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Crypto Trading Privacy Gets a Boost as $15M of Tether Moves to Liquid Sidechain

Stronger privacy is coming to the largest stablecoin, tether, with a recent blockchain-to-blockchain swap of $15 million worth of tokens. At 11:27 UTC on Jan. 7, stablecoin issuer Tether conducted a cross-chain swap of some 15 million USDT reserves from ethereum to Blockstream’s Liquid, a federated sidechain running parallel to the bitcoin blockchain. The technical …

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Kraken Lists USDC the Day After Binance Drops It for Some Pairs

Kraken has listed the USD Coin, which it described as the “world’s fastest-growing stablecoin,” the day after rival Binance removed it from its platform because of low trading volume. Kraken said deposits and trading would go live Wednesday for USDC trading pairs with bitcoin, ether and tether, as well as the U.S. dollar and euro. …

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Regulatory Roundup: Crypto ‘Inevitable’ in India, China Rankings, NY Streamlines Policy

</header> <strong>In this regulatory roundup, we cover a positive crypto story in India, China’s year-end rankings, and the European Central Bank entering the stablecoin race. </strong><strong>We also cover the New York regulator’s proposed Bitlicense revision — the first in five years — and several other notable regulatory developments in the crypto space.</strong> Also read: Regulatory …

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Lagarde Sees Demand for Stablecoins, Plans to Put ECB ‘Ahead of the Curve’

</header> <strong>At her first press conference as head of the European Central Bank (ECB), Christine Lagarde outlined her plans to lead the ECB “ahead of the curve” in the field of digital currency. “There is clearly a demand out there that we have to respond to,” she said, referring to stablecoins.</strong> Also read: Regulatory Roundup …

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