As Visa aimed to expand its potential to more clients, there was an urgent need to utilize newer, high-performance blockchains that could send and receive stablecoins at a faster rate and at a lower cost. For these reasons, Visa supported…
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Tether is One of the Biggest US T-Bills Holders – Why is this Important?
Tether, a leading stablecoin issuer, has published an attestation report for Quarter 2 of 2023. The report shows that the company owns $72.5 billion of US treasury bills, with an excess reserve of $3.3 billion. Now, just to give you…
Singapore among World’s First to Agree to Stablecoin Crypto Regulation
Making the dawn of new age, The Monetary Authority of Singapore (MAS) announced its rules for using and adapting a stablecoin cryptocurrency. Singapore is one of the earliest in setting the bar by finalizing stablecoin regulations. This stablecoin crypto regulation…
USDC Depeg’s, currently at .92cents, Circle Confirms $3.3B Stuck with Silicon Valley Bank
Circle, the company behind USDC, the second-largest stablecoin in circulation, recently confirmed that its cash reserves worth $3.3 billion(alleged 9.8 billion from Deloitte audit ) have been stuck with Silicon Valley Bank (SVB), which was taken over by regulators and…
Stablecoin Issuer Paxos in a Pickle by SEC
Paxos, a New York-based technology and financial company, is in a pickle after the Security and Exchange Commission (SEC) stated that it plans to sue the company for regulatory violations over its issuance of a stablecoin. This seems to be…
Is USDC the Most Promising Regulatory-compliant Stablecoin?
The cryptocurrency space has its share of bad actors. This is one of the reasons a lot of investors are having second thoughts about dipping their toes in digital assets. Circle’s USDC stablecoin is being marketed as one of the…