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Bitcoin News / Bitcoin.com - 2 years ago

Japanese Banking Giant MUFG to Deploy Stablecoins on Public Blockchains

Mitsubishi UFJ Financial Group (MUFG), the largest bank in Japan, announced its plans to deploy and distribute bank-backed stablecoins on different public blockchains. The Japanese bank has partnered with Datachain, a blockchain interoperability comp...

Bitcoin News / Bitcoin.com - 2 years ago

Dollar-Based Stablecoins to Strengthen Greenback, CZ Says, Thinks DeSantis ‘Is Great’

The regulatory environment in the U.S. doesn’t look good for crypto but the United States has the potential to lead again, according to Binance CEO Changpeng Zhao (CZ). The founder of the world’s largest digital asset exchange is convinced stablecoin...

Cryptocoins News / The Cointelegraph ​ - 2 years ago

MUFG to facilitate Japanese bank-backed stablecoins via Progmat Coin platform

Mitsubishi UFJ Financial Group hasn’t revealed what firms will be the first to utilize its platform; however, a handful of banks have reportedly opted for a separate stablecoin solution....

Cryptocoins News / The Cointelegraph ​ - 2 years ago

Stablecoins are a critical countermeasure to Operation Chokepoint

Stablecoins could help crypto firms to remove themselves from the banking system — and prevent the U.S. government from cutting off their financial lifelines. Boosting...

Bitcoin News / Bitcoin.com - 2 years ago

USDC Goes L2: Circle’s Stablecoin to Make Its Native Debut on Arbitrum

Stablecoin provider, Circle Internet Financial, has revealed that its dollar-pegged token, USDC, will be natively introduced on the layer two (L2) blockchain Arbitrum on June 8. The announcement follows Circle’s disclosure of its euro-pegged co...

Cryptocoins News / The Cointelegraph ​ - 2 years ago

Yuan stablecoin team arrested, WeChat’s new Bitcoin prices, HK crypto rules: Asia Express

Chinese RMB stablecoin issuer’s Shanghai office reportedly deserted after police raid, and WeChat offers Bitcoin prices — but for how long? Yuan stablecoin team report...

Cryptocoins News / The Cointelegraph ​ - 2 years ago

Hong Kong-based First Digital Group launches redeemable USD-backed stablecoin

The Hong Kong trust company says the new FDUSD combines the stability of the U.S. dollar with the reliability of Asian regulation. First Digital Group, a Hong Kong-ba...

Bitcoin News / Bitcoin.com - 2 years ago

Stablecoin Economy Reaches 20-Month Low as BUSD Redemptions Surpass 10 Billion Tokens in 3 Months

Three months have passed since Paxos made the decision to cease the production of new BUSD tokens, complying with the directive issued by the New York Department of Financial Services (NYDFS). Since February 13, 2023, 10.62 billion BUSD tokens have b...

Cryptocoins News / EthereumWorldNews - 2 years ago

Trust Reserve CNHC Stablecoin Team Detained In China: Report

Summary: Law enforcement in China arrested the Trust Reserve team behind a Yuan-backed stablecoin and another token backed by the Hong Kong Dollar. Authorities wrote a “judicial seizure” notice at the teams’ office in Shanghai, PANews repor...

Cryptocoins News / The Cointelegraph ​ - 2 years ago

CNHC stablecoin issuer detained by Chinese police: Report

KuCoin Ventures and Circle Ventures are among the investors in the Chinese offshore yuan-pegged stablecoin, which is reportedly under investigation in China. The Chine...

Bitcoin News / Bitcoin.com - 2 years ago

Tether Expands: Stablecoin Issuer Announces Sustainable Bitcoin Mining Project in Uruguay

After announcing its plan to invest 15% of profits into bitcoin, the company Tether Limited has taken another step toward its crypto goals. Tether, the stablecoin issuer, has revealed its latest venture: “sustainable bitcoin mining operati...

Bitcoin News / Bitcoin Magazine - 2 years ago

Stablecoin Issuer Tether To Begin Bitcoin Mining Operations In Uruguay

Tether, the company behind the widely popular USD stablecoin, has announced its foray into energy production and sustainable Bitcoin mining operations in Uruguay. According to the announcement, Tether’s collaboration with a local licensed company mar...