Fidelity Digital suggests that 2024 might witness a resurgence of institutional interest in DeFi yields. In its recently released 2024 Digital Assets Look Ahead report, asset manager Fidelity Investments predicts a potential resurgence of institutional interest in Decentralized Finance (DeFi) and stablecoins, based on the Federal Reserve‘s anticipated interest rate cuts. Stablecoins and Institutional Adoption…
ESCC will introduce stablecoin-based gas fees and Ethereum compatibility on EOS. EOS Labs and EOS Network Foundation (ENF), the main stewards of the EOS Network have announced a strategic collaboration with EOS Stable Coin Chain (ESCC), an Ethereum-based stablecoin solutions provider. ESCC is a novel smart contract on the EOS Network using a customized implementation…
Paxos received the in-principle approvals (IPAs) of the Financial Services Regulatory Authority (FSRA) in the Abu Dhabi Global Market (ADGM) to offer USD-backed stablecoins among other crypto services. In a bid to expand its crypto-related services in the Middle East, Paxos Trust Company LLC has announced that it has received the necessary regulatory approval to…
Understanding Stablecoins Stablecoins are a type of cryptocurrency that aims to maintain a stable value by pegging it to another asset, such as a fiat currency, precious metal, or a basket of assets. Stablecoins have gained significant popularity in recent years due to their potential to address some of the limitations of traditional cryptocurrencies, such…
Funtap This article analyzes how new monetary technologies have significant potential to disrupt the existing legacy money system over the next years and decades. To the extent that this occurs, it would have macroeconomic implications and would offer investment opportunity along the way. 160 Different Currency Bubbles There are over 160 different state-issued currencies in…
Following the collapse of Terra Luna and FTX last year, the UK policymakers have committed to introducing a new regulatory regime for crypto assets and stablecoins to ensure sustainable and secure mainstream adoption. The United Kingdom policymakers have in the past year worked closely with different financial institutions and other stakeholders in formulating detailed regulatory…
The Hong Kong Monetary Authority (HKMA) recently completed a public consultation on stablecoins regulations. As the city of Hong Kong prepares for mainstream adoption of digital assets through a regulated manner, the officials are grappling with cases of crypto-related scams. In a bid to ensure maximum protection of investors’ funds, Hong Kong’s Secretary for Financial…
The SEC’s case against Binance centers on its claim that BUSD was sold as an investment contract, primarily because Binance marketed it as offering yield through reward programs. In a recent development, renowned stablecoin issuer Circle has intervened in the US Securities and Exchange Commission’s (SEC) case against Binance, arguing that stablecoins should not be…
MAS said that only stablecoin issuers meeting the requirements of the newly introduced guidelines would only be considered for regulation. Singapore, a global financial hub known for its innovative approach to technology and finance, has taken a decisive step in shaping the future of stablecoins within its jurisdiction. The Monetary Authority of Singapore (MAS) has…