Bitso Set to Launch Mexican Peso-Pegged Stablecoin on Arbitrum

Bitso, a popular Mexican cryptocurrency exchange, is set to introduce a new stablecoin that is pegged to the Mexican Peso. This move comes as part of Bitso’s expansion into the world of decentralized finance (DeFi) and the growing demand for stablecoins in the crypto market. The new stablecoin will be launched on Arbitrum, a Layer [...]

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Stablecoin Economy Sees $3 Billion Drop: Leading USD Tokens Shrink as Euro-Anchored Projects Display Resilience

The stablecoin economy continues to shrink, with more than $3 billion in value removed from today’s top stablecoin valuations in less than 40 days. The dollar-pegged tokens USDP and GUSD experienced the largest 30-day reductions, shedding 45.1% and 27.2%, respectively. Top Stablecoins Tumble: $3 Billion Evaporates in Less Than 40 Days Statistics reveal a significant [...]

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Stablecoin Economy Shrinks by $7.3 Billion in 2023, USDC and BUSD Record Mass Redemptions

From the beginning of this year, the crypto economy has surged by 41.77%, reaching a current market capitalization of $1.17 trillion. However, amidst this growth, the stablecoin economy experienced a substantial loss of $7.3 billion within a span of 140 days. Stablecoins Experience a Significant Shift As per the latest data, the stablecoin economy has [...]

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Societe Generale Subsidiary Launches Euro Stablecoin, but Faces Criticism Over Smart Contract Issues

According to Societe Generale-Forge (SG-Forge), a regulated subsidiary of Societe Generale Group, the company has launched a stablecoin pegged to the euro and issued on the Ethereum blockchain. During the launch announcement, SG-Forge’s CEO stated that a stablecoin “built under a robust banking-grade structure” will be a key element to increase trust and confidence in [...]

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‘Worst code I’ve ever seen’: Euro stablecoin faces centralization criticism

Criticism has been leveled at a new euro-pegged stablecoin released in France due to a decision to restrict peer-to-peer transactions. French bank Societe Generale-Forge (SGF) released the Ethereum-based stablecoin called EUR CoinVertible (EURCV) on April 20 which is available to only qualified institutional clients. According to observers who reviewed its smart contract code, ERC-20 transfers [...]

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Tether launches stablecoin pegged to pesos on Ethereum, Tron and Polygon

The announcement highlighted that this may spark the launch of more peso-backed stablecoins within the region.

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Venezuelan Minimum Monthly Wage Not Pegged to the Petro, According to Official Gazette Decree – Emerging Markets Bitcoin News

The new decree that makes official the recently announced Venezuelan minimum monthly wage rise has been revealed in the Official Gazette, with no mention of its supposed peg to the petro, the national cryptocurrency. The law published mentions that the wage will be 130 VES, using the national fiat currency as a unit of account, […]

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Stablecoin Economy Jumps 3.5% in 2 Weeks to $167 Billion, Fiat-Pegged Tokens Command Over 60% of Crypto Trades – Altcoins Bitcoin News

Since December 8, the stablecoin economy has grown 3.59% in 17 days as numerous stablecoin market valuations have issued more fiat-pegged tokens this month. On Saturday, December 25, the stablecoin economy’s $167 billion market valuation represents 6.68% of the entire $2.49 trillion crypto market economy. Stablecoin Issuance Jumps 3.5% There’s a great number of stablecoins […]

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Stablecoin Supply On Ethereum Surpasses $86 Billion

The dominant position of stablecoins in the cryptocurrency industry is not surprising. These pegged currencies have become the default trading pair for Bitcoin, Ethereum, and other top markets. Moreover, the total supply on Ethereum has surpassed $86 billion, which is relatively impressive.  Stablecoin Supply on Ethereum Keeps Growing One would think there is only so […]

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Societe Generale stock pumps and dumps after Euro-pegged stablecoin launch

French multinational bank, Societe Generale, has launched its own Euro-pegged stablecoin named “EURon” on the Ethereum blockchain. The news briefly caused the Societe Generale stock price to jump before dropping below yesterday’s close price. The stablecoin is the first to be issued by the bank, which is one of the leading investment banks in France. …

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Aave Launches GHO Stablecoin on Ethereum Network

Aave, a prominent lending protocol within the decentralized finance (defi) sphere, has unveiled GHO, a new stablecoin, which is now live on the Ethereum network. Aave users can now mint the stablecoin asset by leveraging Aave version three (v3). Aave’s Dollar-Pegged GHO Token Goes Live on Ethereum This week, on July 14, 2023, Aave’s community [...]

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Tether Stablecoin Sees 22% Growth in 2023 Despite Dollar-Pegged Token Economy’s Contraction

Since January 2023, the number of tether stablecoins in circulation has grown from 66 billion to the current 80.9 billion, representing growth of more than 22% this year. Tether’s growth is approaching the high of $83 billion in stablecoins in circulation that the project saw almost a year ago, in May 2022. Tether Supply Is [...]

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Stablecoin Supply Plummets After Depegging Event: $7.4B Dollar-Pegged Tokens Withdrawn From Circulation

During the past 11 days, over 7 billion USDC stablecoins have been withdrawn from circulation, with most of the redemptions occurring following the depegging event of USDC on March 11, 2023. Furthermore, since March 6, a total of 439.48 million BUSD stablecoins have been redeemed. Stablecoin Depegging Event Triggers Billions in Redemptions The stablecoin landscape [...]

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Top Stablecoins See Steady Decline Over Past Month as Dollar-Pegged Token Economy Shrinks

The top stablecoins have continued to see redemptions over the past 30 days as the dollar-pegged crypto economy currently hovers at $127.32 billion on July 12. The stablecoin BUSD’s supply has dropped below the 4 billion mark as the token’s number of coins in circulation has fallen 16.7% over the last month. Dollar-Pegged Cryptos Feel [...]

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Tether swaps more than 2 billion USDT to the Ethereum network

The vast majority of Tether's USDT volume exists on the Tron network due to comparatively lower fees and faster transaction finality. 

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UAE stablecoin issuer gets greenlight, FTX customers sue hedge fund: Law Decoded

While the UAE central bank has given a significant regulatory nod to a new stablecoin, an FTX customer sued hedge fund Olympus Peak over its alleged profits from the exchanges meltdown.

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UAE stablecoin issuer gets nod from central bank

With Tether waiting in the wings, AED Stablecoin becomes the front-runner to launch the United Arab Emirates first regulated dirham-pegged token.

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Redemptions Plague Stablecoin Economy, Wiping Out Over $2 Billion in June

The market capitalization of the stablecoin economy on July 2, 2023, has fallen below the $129 billion mark to the current $128.21 billion, according to statistics. Just over $2 billion in stablecoins have been withdrawn from the stablecoin token economy since May 28. Stablecoin Economy Faces Contraction as Market Capitalization Dips Below $129 Billion The [...]

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