Compound Labs has announced the first smart contract deployments for Compound III, which will create a USDC market on Ethereum. The contracts await activation by Compound governance but are now open to review by the community. According to the latest update from Compound’s protocol development log, the deployment brings Compound III “just a governance proposal...Read More
MakerDAO co-founder Rune Christensen recently proposed removing all USDC from the DAI stablecoin’s peg-stability module. He suggested that the USDC within, worth $3.5 billion, could be used to buy ETH instead. Yet despite what such a conversion could do to boost ETH’s price, Vitalik Buterin said it was a “terrible idea.” Removing Exposure to USDC...Read More
Major crypto firms Circle and Coinbase have been forced to comply with the US Treasury Department’s sanctions against Tornado Cash under Bank Secrecy Act (BSA) requirements, said Circle CEO Jeremy Allaire on Tuesday. The executive discussed the precedent set by the department’s latest move as it pertains to privacy and security on the internet, and...Read More
The Buenos Aires-based soccer team Banfield sold one of its best players (Giuliano Galoppo) to the Brazilian giant São Paulo. Interestingly, the latter paid the transfer sum in cryptocurrencies instead of fiat, handing over approximately $8 million worth of USDC to the Argentinian club. As a result, Galoppo became the first soccer player sold in...Read More
After the collapse of the Terra ecosystem (which included its native token LUNA and its algorithmic stablecoin UST), the crypto community started to become more cautious about stablecoins, pushing large projects such as Tether’s USDT and Circle’s USD Coin (USDC) to be more transparent about their finances. On July 14, Circle Internet Financial released its...Read More
Tether still has the largest market share of all the stablecoins, but it is now around 43%, according to CoinGecko. Glassnode reports that the USDT market share is a slightly higher 45% but still shows the same downward trend of its dominance. According to the Tether transparency report, there are 66 million USDT in circulation,...Read More
Circle – the company behind the second-largest stablecoin by market cap, USDC – reiterated its positive financial position amid a rumor calling the company on the brink of collapse. As the reports went viral, CEO Jeremy Allaire laid out detailed documents on the company’s latest status on transparency and trust, audits and attestations, as well...Read More
Circle has tapped a New York state-based community bank as its latest custodial provider for USDC reserves. The move reflects Circle’s strategy to deepen partnerships with Community Banks across the U.S., attempting to make payments more inclusive to underserved communities. Under the new agreement, New York Community Bancorp’s bank subsidiary, New York Community Bank, will...Read More
In the latest interview with Fox Business, Circle CEO Jeremy Allaire unveiled his thoughts on the turbulent crypto market with stablecoins being targeted by short sellers partly due to the Luna-UST fiasco. He reiterated his confidence in USDC attracting net inflows amid the market crash due to its compliance with regulators. In regards to the...Read More
When traders and investors exit their crypto asset positions, they usually convert them into stablecoins before taking them off exchanges as fiat. That exodus has been going on for the past six weeks, causing the stablecoin market share to grow. Furthermore, this is despite the reduction in the supply of the world’s largest one, Tether....Read More
As per the latest data compiled by crypto analytic platform, IntoTheBlock, USDC stablecoin recorded its second-highest volume ever. USDC Winning the Tussle ITB said that with Bitcoin and Ethereum going down below $21k and $1,100, the total volume transacted on-chain on USDC reached $38.72 billion. Interestingly, this isn’t the first time that USDC has sailed...Read More
Stablecoin issuer and fintech company, Circle, has announced the signing of a definitive agreement to acquire Cybavo, a crypto infrastructure platform based in Taiwan. As part of the move, Circle will continue to invest in, develop, and operate the Taiwan-based company products and services and add them as a new product pillar. With Cubavo, Circle...Read More
Polygon USDC, a bridged version of the USDC hosted on Ethereum, will now be available for making remittances and withdrawals on Circle platforms. The latter is a peer-to-peer payments tech company and also the issuer of the stablecoin. Polygon, on the other hand, is Ethereum’s leading layer-two network. Last month’s statistics show it supports over...Read More
The international financial technology company that processes payments – Checkout.com – enabled customers to use the popular stablecoin USDC as a payment method. The offering became available after striking a partnership with the crypto security firm Fireblocks. Saying ‘Yes’ to Payments in USDC Checkout.com revealed that merchants will be allowed to use the new offering...Read More
One of the largest money transfer services in the world – MoneyGram – plans to enable users to send stablecoins and convert them to fiat currency. The company will collaborate with Stellar Blockchain to execute the move. In addition, CEO Alex Holmes shared his optimistic view on the crypto industry, predicting it is “here to...Read More
The Circle CEO continued to push the adoption of digital currencies as he viewed cash’s features, including portability, privacy and role in securing individual sovereignty, are what could make digital cash alluring to people. “Cash Is King” In a panel discussion hosted by the World Economic Forum, Circle CEO Jeremy Allaire elaborated his bullish thesis...Read More
Circle Internet Financial, the issuer of USDC stablecoin, is planning to apply for a crypto bank license in the US in the near future. According to co-founder and CEO Jeremy Allaire, the company has been in talks with regulators on the issue since August 2021, when it first revealed plans to convert into a bank,...Read More
Stablecoins are cryptocurrencies that usually peg 1:1 to fiat currencies like the US dollar. For every stablecoin in circulation, supposedly, there should be a $1 bill or its equivalents as redeemable in the reserves. The rising concern regarding the security of stablecoins has caught lawmakers’ attention. The US Lawmakers Ask for Transparency According to the...Read More
Circle Internet Financial is a finance firm that’s best known for being the issuer of the second-biggest stablecoin by total market capitalization – USDC. Now, the company reports that it’s valued at a whopping $9 billion. According to a press release from today, February 17th, Circle is now valued at $9 billion. The company announced...Read More
Financial services company Circle, the issuer of USDC, has enabled support for the dollar-backed stablecoin on the Flow network, making it the eighth integration for the second-largest stablecoin on a blockchain network. USDC Now on Flow Network Circle announced the news of the USDC support on Flow via a press release on Monday (January 31,...Read More
Digital payments company Circle has announced the launch of its stablecoin USDC on Avalanche. The main objective behind the stablecoin’s deployment is to enable developers and communities to engage with eco-friendly platforms and accelerate decentralized finance (DeFi) adoption. USDC Now Available on Avalanche According to the official blog post, users will now be able to...Read More
Senator Sherrod Brown appears to be keen on understanding how the process of stablecoin minting and redemption actually work. A comprehensive regulatory regime for stablecoin is the need of the hour, a failure to roll out one will prompt the watchdogs to step in. The head of the US Senate Banking Committee has called upon...Read More
USDC issuer Circle has declared support for the Presidential Working Group on Financial Markets’ proposal to regulate fiat-backed cryptocurrency issuers like banks, stating that the move would foster ecosystem growth. Jeremy Allaire, CEO of Circle, told Yahoo Finance that it is imperative to regulate stablecoin issuers because the growth of such tokens could see the...Read More
Despite a tumultuous 2020, stablecoins not only managed to stay ahead, but showed considerable growth and industry penetration. From a COVID-induced black swan event to an explosion in DeFi to Bitcoin’s stark price surge, 2020 has been a defining year. Stablecoins, in particular, saw major developments, both in terms of adoption and regulations. Major Stablecoin...Read More
Not many can deny that bitcoin is in the final leg of the 2020 bull run before it hits the $30,000 mark. In fact, bullish 2021 predictions expect bitcoin’s price to range from $36,000 to beyond $300,000. With regard to the digital asset’s price surges, Jeremy Allaire, of Circle spelled out key drivers for this...Read More
Popular crypto-platform Circle is in the news after it announced the launch of a major platform upgrade. At the core of Circle’s latest platform upgrade will be a new digital currency native treasury account infrastructure – Digital Dollar Accounts. This upgrade will allow users to store value natively in digital currencies while maintaining compatibility with...Read More
Circle and CEO Jeremy Allaire have been in the news a lot lately. Not only has the U.S government enlisted Circle’s help for a ‘foreign policy objective’ in Venezuela, but Circle also recently launched Yield USDC accounts for businesses. On the back of such developments, Jeremy Allaire recently expanded on the Master Plan for USDC...Read More
The island nation of Bermuda is in the news today after it gave U.S-based cryptocurrency exchange, Bittrex, a Class F (“Full’’) Digital Assets Business Act license that will allow the platform to operate under the supervision of the Bermuda Monetary Authority (BMA). According to Bittrex Global CEO Tom Albright, Bittrex (Bermuda) will provide additional digital asset services...Read More
Circle, a peer-to-peer technology that enables payments in cryptocurrency and San Fransisco based exchange Coinbase announced that they have upgraded the USDC stablecoin protocol and its smart contract. Both Circle and Coinbase are members of the Centre Consortium that manages USDC. Together, the firms aimed to make the payment process easy for people who use...Read More
Trade wars are usually good news for non-sovereign, highly secure digital stores of value. With Bitcoin [BTC] registering continuous growth in adoption rate, Circle CEO Jeremy Allaire pictures a scenario where individuals will convert a part of their long-term investment capital into digital assets. Circle shared the interview with Global Coin Research over its official...Read More
