Tether’s USDT Stablecoin Reaches $100B Market Cap
Tether’s stablecoin, USDT, has surpassed $100 billion in market capitalization. This milestone further widens the disparity between Tether USDT and USD Coin, its nearest competitor. CoinGecko data indicates that USDT’s market capitalization fluctuates based on the current price and supply in circulation; on March 4, the cryptocurrency briefly surpassed $100 billion. Compared to its nearest […]
Ethena Launches USDe Stablecoin Mainnet with Shard Campaign
Ethena launches USDe stablecoin on the mainnet alongside a ground-breaking Shard Campaign, promoting community engagement and ecosystem growth. In conjunction with an unprecedented Shard Campaign, Ethena has declared the USDe stablecoin’s debut on the public mainnet. The objective of this campaign is to motivate users to engage in the ecosystem through the provision of rewards […]
New Zealand Central Bank Governor’s View on Stablecoin Stability
According to a New Zealand central banker, the stability of stablecoins is dependent on the issuer’s financial health and balance sheet. New Zealand central bank governor Adrian Orr has expressed grave concerns regarding digital assets, stablecoins in particular. He stated that fiat-pegged stablecoins could never serve as an equivalent to physical fiat currency. Misconceptions About Stablecoin […]
Fidelity Predicts Interest Rate Cuts Could Boost DeFi, Stablecoins
Fidelity, an asset manager, predicts that a forthcoming interest rate reduction by the Federal Reserve of the United States could reignite the interest of major institutions in decentralized finance (DeFi) and stablecoins, assuming the infrastructure continues to advance through 2024. In its 2024 Digital Assets Look Ahead report, published on January 13, Fidelity stated that […]
CBN Announces Launch of cNGN Stablecoin in February
In its regulatory sandbox, the Central Bank of Nigeria (CBN) has authorized the Africa Stablecoin Consortium (ASC) to pilot the cNGN stablecoin. The release date for the new stablecoin is February 27, 2024. The ASC, an association of Nigerian banks and fintech operators, stated in a blog post that the cNGN stablecoin adheres to the […]