Agora Launches AUSD Stablecoin on Sui Blockchain

Agora, a forward-thinking financial startup, is poised to impact the cryptocurrency world with its upcoming AUSD stablecoin. Scheduled for release in June, AUSD will be pegged to the US dollar, ensuring stability and trust for its users. This stablecoin marks…

Stablecoins Drive Change in Russian Commodities Trade

The landscape of financial transactions for Russian commodities firms has undergone a significant transformation. In the face of mounting international sanctions and financial restrictions, these firms have turned to innovative solutions to ensure the seamless execution of cross-border deals. Among…

Crackdown on $1.9 Billion Illegal Bank Using USDT in China

In a significant crackdown on illegal financial activities, the police in Southeast China’s Sichuan province have successfully dismantled an underground bank that had been utilizing the USDT stablecoin for foreign currency exchanges. The transactions involved in this illicit operation amounted…

Deutsche Bank Reveals 14% Currency Peg Survival Rate Signals Stablecoin Risks

In a study recently conducted by analysts at Deutsche Bank Research, a comprehensive analysis of 334 currency pegs since the year 1800 has revealed a startling truth: only 14% of these pegs have managed to survive the test of time.…

SEC Targets Ripple Stablecoin as Unregistered Crypto Asset in Ongoing Legal Battle

The U.S. Securities and Exchange Commission (SEC) has recently set its sights on Ripple’s highly anticipated stablecoin. In a recent filing, the SEC characterized the stablecoin as an “unregistered crypto asset.” Ripple, known for its innovative approach to bridging traditional…

Visa and Allium Labs Report Indicates Over 90% of Stablecoin Transactions May Not Involve Real Users

Stablecoins, a type of cryptocurrency pegged to an underlying asset like the U.S. dollar, have garnered significant attention in recent years. Proponents argue that stablecoins have the potential to revolutionize the payments industry, offering fast, low-cost transactions. However, a new…

Tether Records 4.52 Billion Profit with Gains from US Treasuries and Crypto

Tether Holdings Ltd., the operator of the largest stablecoin, has announced a remarkable achievement in the first quarter of this year. The British Virgin Islands-incorporated company reported a record net profit of $4.52 billion, driven by multiple factors including interest…

Triple-A Adds PayPal Stablecoin to Payment Options in Singapore

Triple-A, a leading payments company based in Singapore, is set to enhance its payment services by including PayPal’s stablecoin among the list of tokens accepted for merchant payments. As the first licensed crypto payments company in Singapore, Triple-A has been…

Stablecoin Bill Gains Unexpected Support from Senate Chair Sherrod Brown

Sherrod Brown, the Senate Banking Committee chairman and a known critic of cryptocurrencies, has expressed openness to advancing a long-delayed bid for stablecoin legislation. This unexpected support from Brown, a Democrat representing Ohio, has the potential to significantly enhance the…

US Senators Cynthia Lummis and Kirsten Gillibrand Propose Bipartisan Legislation for Payment Stablecoins

US senators Cynthia Lummis and Kirsten Gillibrand have joined forces to introduce a groundbreaking bipartisan legislation known as the Lummis-Gillibrand Payments Stablecoin Act. The primary objective of this proposed law is to establish a clear regulatory framework for payment stablecoins…