DWF Labs Hints at Synthetic Stablecoin
The crypto market maker DWF Labs intends to introduce a stablecoin that could rival Ethena’s USDE. The co-founder of DWF Labs, Andrei Grachev, claims that the cryptocurrency trading and market-making business has completed the design of its synthetic stablecoin. Collateral assets like Bitcoin and other allocated cryptocurrencies are the foundation for synthetic stablecoins, which run […]
Ripple Advances Stablecoin Strategy with 185 RLUSD Burn
This strategic move is part of Ripple’s effort to control the stablecoin’s supply in line with regulatory requirements. By removing 185 Ripple USD (RLUSD) tokens from circulation, Ripple has increased the amount of progress it has made with its stablecoin effort. This effectively removed the tokens from circulation and returned them to the issuer’s account […]
Stablecoin Market Cap Hits Record High After 11 Months
Despite a dip to $135 billion by the end of 2022, the market has rebounded significantly. In the midst of eleven months of continuous expansion, the market capitalization of stablecoins has achieved an all-time high of $168 billion. DefiLlama data reveals that the overall market capitalization of stablecoins has reached an all-time high, surpassing its […]
Ripple Launches RLUSD Minting on Ethereum, XRP Ledger
RLUSD has the potential to impact the XRP price, drawing parallels with past stablecoin launches on other networks like TRON. Ripple has announced the start of its USD-pegged RLUSD stablecoin minting on both the Ethereum mainnet and the XRP ledger. So far, the blockchain firm has produced 385 RLUSD on the aforementioned networks. Ripple Mints […]
Russia Plans To Set Up 2 Crypto Exchanges & BRICS Stablecoin
Despite the risks and sanctions challenges, Russia plans to launch two crypto exchanges and a BRICS stablecoin to stimulate foreign economic activity. Russia is currently establishing two cryptocurrency exchanges, one in Moscow and the other in St. Petersburg. This action emphasizes the necessity of fostering foreign economic activity (FEA). Additionally, it is designed to establish […]