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STBL.com, the next-generation stablecoin protocol, has announced a strategic partnership with Ondo Finance, a blockchain technology company, as per details shared with Finbold.  The collaboration designates USDY, Ondo’s tokenized yield-bearing asset backed by short-term U.S. Treasuries and bank deposits, as primary collateral within STBL’s reserve structure, unlocking up to $50 million in USST minting capacity. “Stablecoin design has to catch up with reality: the world is moving to tokenized reserves,” said Dr. Avtar Sehra, Co-Founder and CEO of STBL, “Our stable asset and reserve framework is built for this new paradigm – multi-tier, overcollateralized, and engineered to keep a tight peg and enable use of a variety of institutional-grade assets on-chain. Ondo’s USDY brings the right ingredients – quality collateral, clear governance, and strong controls – so USST can scale utility without diluting stability.” Partnership brings tokenized T-bill yiel...

Citi has revised its stablecoin market forecast and now expects the sector to soar 13x by 2030, reaching a market capitalization of as high as $4 trillion. The bank cites faster-than-expected adoption in payments and a growing reliance on decentralized finance as key factors behind the surge, while raising its bull-case forecast by $300 billion to $4 trillion by 2030. “We argued that 2025 would be blockchain’s ChatGPT moment, with stablecoins igniting the shift,” the report said. “Now that transformation is unfolding at a remarkable pace. Cryptocurrency company listings, record fundraising and breakthroughs in technology all suggest that institutional adoption is accelerating.” In its base case, it see the market surging to $1.9 trillion by 2030, up from a forecast of $1.6 trillion previously. 🚨 JUST IN: Citi projects a $1.9 TRILLION stablecoin market by 2030 Current market cap: $280B pic.twitter.com/63ZWJ1ieDb — Bitcoin Archive (@BTC_A...

USDD is a Justin Sun-founded stablecoin that advertises a 20% yield paid to users who are willing to lend the token. Over its several years of existence, it has destroyed its DAO, abandoned its roadmap, and has highly concentrated holdings. Even now, there are two separate protocols that exist, both with hundreds of millions in circulating supply and substantial differences in how they function. Both also raise serious concerns about Sun’s role and about how these coins are managed. USDD 1.0 USDD was launched as an algorithmic stablecoin modeled after the Terra/Luna system but paying even higher unsustainable interest rates to users. However, the coin quickly abandoned its original roadmap to be integrated into the core of the TRON network and become a strangely collateralized stablecoin operated in concert with several partners, including the fraudulent trading firm Alameda Research. It also advertised that it was governed by a decentralized autonomous organiz...

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In March, Emirati state-owned investment firm MGX invested $2 billion in Binance via Donald Trump’s World Liberty Financial stablecoin USD1. Now, Binance Chain is distributing USD1 and generously incentivizing its use at rates that reached 99% APR (as of 3:20 UTC, July 15). Crypto yield farmers were quick to find ways to cash in on the sudden partnership, and have already unearthed an incredible and possibly irresponsible annual percentage return (APR) available to early users of the stablecoin. By looping Binance Chain-based USD1 on Euler Finance against the world’s largest stablecoin, tether (USDT), yield farmers have earned 99% APR on the presidential stablecoin . Euler Finance’s APR for a Binance Smart Chain USD1/USDT loop as of 03:20 UTC, July 15 That number is not a typo. Nowhere close to the 4% APR available in savings accounts or the 10% variable average return of the S&P 500, USD1 has launched on a decentralized finance (DeFi) platform at an APR ...

Ripple (XRP) is once again grabbing central headlines, this time for trying to subdue a competitor in the stablecoin domain. The speculative regimens are going all out, stating how Ripple intends to purchase Circle (USDC) and has struck a deal with the stablecoin giant in a latest development. The deal has not yet been confirmed; however, the speculatory whims have already started to plague the market, hinting at a new era for XRP if it manages to take over and establish its control over Circle. If this particular deal goes through, will XRP be able to claim a coveted, ambitious price spot? If yes, how high will the token surge? Let’s find out. Also Read: Eric Trump Says Crypto Will Replace SWIFT: 3 Coins That Can Make It Happen XRP-Circle—A Possible Union on Cards? Source: Bitcoinist Ripple (XRP) is one of the leading crypto market forces. Ripple has fought many battles and has emerged victorious in recent times. The token is now free from all legal obligations and is just forgin...

Ripple is undoubtedly one of the most successful crypto market tokens with which to interact. XRP has always attracted intense scrutiny and attention to stay on top of the radar. After a modest October in terms of price, will it hit a new ATH in November 2024? Also Read: Michael Saylor’s Bold U-Turn: Embracing Self-Custody Amid Backlash Ripple Continues To Attract Mainstream Momentum Source – FXEmpire Per the latest Santiment report, the XRP ledger has noted spiked activity in its wallet domain. The post outlined how the XRP ledger has documented a surge in active wallets lately. The metrics indicate that the active unique wallet number has breached the 35,600 mark. In addition to this, nearly 7,000 unique wallets were made in a single day, which is quite a milestone for Ripple to achieve in the last 7 months. “XRP Ledger has spiked in active wallets significantly, reaching 35,799 unique wallets making at least one transfer in a single day, the highest in over 3 months. Additional...

Stablecoin issuer Tether Holdings Ltd is reportedly considering venturing into commodity trade financing amid a growing cash pile. According to a Bloomberg report, Tether Holdings, which generated $5.2 billion in net profits in the first half of 2024, is exploring the possibility of providing loans to commodities trading firms. Citing ‘people familiar with the matter,’ the report says that Tether has entered discussions with several commodities trading companies with a view of offering US dollar loans to the sector. Tether Ceo Paolo Ardoino tells Bloomberg he believes the opportunities in the commodities trading sector will be “massive in the future.” “We likely are not going to disclose how much we intend to invest in commodity trading. We are still defining the strategy. We are interested in exploring different commodity trading possibilities.” Bloomberg’s anonymous sources say Tether has also spoken with commodity trading firms about ways to...

Crypto.com partners with BTG Pactual to list BTG Dol stablecoin in Latam. The collaboration aims to bridge traditional banking with the crypto market. BTG Dol is to be traded against BTC and ETH on the Crypto.com platform. According to a recent announcement, Singapore-based Crypto Exchange, Crypto.com, has joined forces with BTG Pactual, Latam’s leading investment bank, to expand cryptocurrency accessibility in the region. The collaboration focuses on listing BTG Dol, BTG Pactual’s dollar-pegged stablecoin , on Crypto.com ’s platform, facilitating seamless trading against major cryptocurrencies like Bitcoin and Ethereum. Expanding Latam’s crypto reach The Crypto.com and BTG Pactual strategic alliance aims to bridge the gap between traditional banking and the burgeoning crypto market. By listing BTG Dol, BTG Pactual’s stablecoin , on Crypto.com ’s platform, both institutions seek to facilitate easier access to digital ...

The UK is setting new regulations for stablecoin s and the wider cryptocurrency market, aiming to enhance financial stability and consumer protection while fostering innovation. The Bank of England (BOE), working with the Financial Conduct Authority (FCA), is rolling out a plan to manage the stablecoin market—cryptocurrencies that are usually tied to a stable asset like the British pound. This move comes right after the UK government shared its own rules for overseeing digital currencies. JUST IN: Bank of England proposes allowing stablecoin s as a payment option for goods and services. — Watcher.Guru (@WatcherGuru) November 6, 2023 By early 2024, the BOE will start regulating stablecoins that are essential to the payment systems, while the FCA will handle the rest of the crypto market. This decision is part of a bigger picture where the UK, under Prime Minister Rishi Sunak, wants to become a key player in the world of crypto. The BOE is focusing on stablecoin s because th...

As the interest rate environment has changes, the market of EUR stablecoin issuers has changed significantly. Circle Internet Financial has become the largest EUR-backed stablecoin (EURC) issuer on the market, surpassing Tether’s EURT and Stasis’ EURS stablecoins. According to Kaiko’s newsletter, EURC’s market share among other stablecoin s in total USD volume surpassed 65% in October 2023, a year and a half after Circle launched the stablecoin . EUR stablecoin market share | Source: Kaiko However, cryptocurrency aggregators show a slightly different picture. According to CoinGecko, Stasis’ EURS is the largest EUR-backed stablecoin, with approximately $133 million in market capitalization. EUR stablecoins by market cap | Source: CoinGecko EURC took the second place with $54.8 million, followed by EURT with roughly $39 million. It is unclear if CoinGecko takes into account liquidity on a multi-chain level. You might also like: Circl...

TrueCoin’s internal systems were not impacted or accessed, as the company confirmed that the attack was an isolated incident and limited to a third-party vendor. Stablecoin TrueUSD (TUSD) announced a potential leak of certain Know Your Customer (KYC) and transaction history data as one of TrueCoin’s third -party vendor s got compromised.  TrueCoin was the operator of the TUSD stablecoin till July 13, 2023. On Oct. 16, a third-party vendor’s security team informed TrueCoin of “an anomalous account change within [TrueCoin’s] organization made by a compromised support vendor.” As a result, TrueCoin suspects the compromise of some of TUSD’s existing customer data. TUSD team was informed by TrueCoin that they received a third -party vendor 's notification that the vendor ’s Security Team detected “an anomalous account change within [TrueCoin’s] organization made by a compromised support vendor .” — TrueUSD (@tusdio) October 16, 2023 TrueCoin’s internal systems were not impact...

Hong Kong official reinforces that retail investors cannot trade stablecoins until they are regulated, likely in 2024. This follows that the virtual asset trading platform JPEX has come under suspicion for its alleged involvement in a conspiracy to commit fraud. Hong Kong’s security concerns Hui Ching-yu, Hong Kong’s Secretary for Financial Services and the Treasury, addressed these concerns during an interview on the Investment Committee program on Oct. 6.  In the interview, he goes on to state the seriousness of the fraud case involving JPEX and how this underscores the need for enhanced supervision for virtual asset trading . He also states that service providers have been using stablecoins like USDT on a broad scale. However, some of these stablecoins have experienced volatility issues in the past. You might also like: Hong Kong Stock Exchange launches smart contract-powered settlement platform Because of these reasons, Hui shares, retail trading of s...

The hype around Terra Classic’s staking service and new token-burning feature is helping fuel the LUNC rally. Terra Classic (LUNC) has outperformed all top-ranking cryptocurrencies so far in September gaining nearly 100% in the past seven days alone. Terra Classic outperforms crypto market The token surged more than 250% month-to-date to reach $0.000594 on Sept. 8, its best level on record. Whereas Bitcoin (BTC) dropped 4% and Ether (ETH) gained only 3.5% in the same period. The profits in the Terra Classic market appeared despite its association with the defunct Terra (LUNA) token, a $40 billion project that collapsed in May. Terra Classic is a rebranded version of the same Terra project and thus has been the subject of skepticism from analysts and investors since its debut. But, traders have ignored such warnings in recent weeks, with a flurry of fundamental catalysts influencing them to purchase LUNC. Staking service A new staking service went live on the Terra Classic chain on Aug...

Also Read: US SEC Charges Impact Theory Over Unregistered NFT Offerings advertisement US Fed Alerted On Payment Stablecoins In a letter to the US SEC, Patrick McHenry, the Chairman of the House Financial Services Committee, along with two others, stated that there was a need to provide regulatory certainty for payment stablecoin s and the broader Crypto Market . McHenry has long been a pro-crypto lawmaker with special focus on regulation of payment stablecoin s. According to the letter, which was cosigned by lawmakers French Hill and Bill Huizenga, the Fed’s recent supervision and regulation letters named ‘Creation of Novel Activities Supervision Program’ and ‘Supervisory Nonobjection Process for State Member Banks Seeking to Engage in Certain Activities Involving Dollar Tokens’ came in the way of the Congress’ efforts to bring in a payment stablecoin regulatory regime. The lawmakers effectively allege that the Fed prog...