PayPal Stablecoin PYUSD Reaches $1B Market Cap
According to CoinMarketCap data, PayPal Stablecoin PYUSD, the US dollar-pegged stablecoin of PayPal, has surpassed $1 billion in market capitalization. Circle’s USDC and Tether’s USDT are PYUSD’s competitors. Paypal stablecoin, PYUSD, introduced in 2023, is issued by Paxos Trust Company, a US-regulated crypto custodian, and is supported by US dollars 1:1. It competes with other […]
Tether Redistributed $108.8M USDT from Illicit Activity
Tether has voluntarily blocked over 1,900 bitcoin wallets associated with illegal activities. According to a recent announcement, since its launch in 2014, the stablecoin issuer Tether has helped more than 145 law enforcement agencies recover more than $108.8 million USDT linked to illicit acts. Tether remains resolute in its mission to support global law enforcement […]
Tether Halts Blockchain Launch Due to Market Concerns
Tether, the issuer of the world’s largest stablecoin, USDT, has stopped its blockchain launch, citing a crowded market and strategic alignment. Paolo Ardoino, the company’s CEO, stated in an interview with Bloomberg News that the stance is derived from an analysis of the blockchain sector and a crowded market. Ardoino suggested that the company’s decision […]
Tether Announces Development of UAE Dirham-Pegged Stablecoin
The creator of stablecoins, Tether, has announced plans to introduce a stablecoin linked to the dirham of the United Arab Emirates. The world’s largest stablecoin issuer, Tether Inc., said on August 21 that the new stablecoin would be introduced in association with Phoenix Group PLC, an IT behemoth with headquarters in the United Arab Emirates, […]
Tether to Launch Stablecoin Linked to UAE Dirham
Tether, a significant stablecoin provider in the digital asset industry, has disclosed its intention to introduce a new stablecoin linked to the United Arab Emirates dirham (AED). Phoenix Group PLC and Green Acorn Investments Ltd., based in the United Arab Emirates, sponsor the new stablecoin, as indicated in the press release disclosed to Cointelegraph. The […]