stablecoins | ForkLog

ForkLog 89 28.01.2025

Stablecoins: the new petrodollar? How Trump reprises Nixon’s playbook

Throughout the election campaign Donald Trump repeatedly invoked bitcoin in his speeches. Now he is back in the White House and has indeed signed an order devoted entirely to digital finance. Contrary to expectations, the document does not mention bitcoin; instead it assigns a special role to stablecoins in state strategy. Oleg Cash Coin examines […]

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ForkLog 32 24.01.2025

Stablecoin Market Cap on Solana Reaches Record $10.8 Billion

Since the beginning of the year, the value of stablecoins on the Solana network has surged by 112%—from $5.11 billion to $10.84 billion, according to DeFi Llama. Source: DeFi Llama. For comparison, the equivalent figures in other networks are: Ethereum— $116.5 billion; TRON— $59.9 billion; BNB Chain— $7.03 billion; Base— $3.84 billion. The growth driver […]

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ForkLog 13 20.01.2025

Phuket to launch a crypto-payments sandbox

A sandbox allowing cryptocurrency payments will launch on the Thai island of Phuket in October, former prime minister Thaksin Shinawatra said, the Bangkok Post reported. High-risk cryptocurrencies will be excluded. According to the former official, Thailand is ready to move to digital assets, and liberalisation of the regulatory regime in the United States after the […]

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ForkLog 72 17.01.2025

Tether launches cross-chain stablecoin USDT0 on Kraken’s Ink L2

Launched by Kraken, the Ink network is the first Ethereum layer-2 to deploy the cross-chain stablecoin USDT0, the exchange said in its blog. Ink is built on Optimism’s technology and is compatible with all networks on the OP Stack. Kraken’s rivals have launched their own OP-based DeFi layer-2s, including Coinbase’s Base and Unichain from Uniswap. […]

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ForkLog 20 15.01.2025

USDC transaction volume tops $20 trillion

Improving blockchain infrastructure and clearer regulation made 2024 a positive year for USDC, specialists at the coin’s co-issuer, Circle, said in its annual report. Compared with 2023, the asset’s turnover rose by 78%. The stablecoin’s cumulative transaction volume since launch has exceeded $20 trillion. In November 2024, the monthly figure reached a record $1 billion. […]

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ForkLog 21 10.01.2025

MiCA will boost euro-denominated stablecoins, says JPMorgan

The Markets in Crypto-Assets (MiCA) rules that took effect in the EU on 30 December 2024 have laid the groundwork for growth in euro-denominated stablecoins, according to a JPMorgan report, CoinDesk reported. Under the law, only compliant stablecoins may be used as trading pairs on regulated markets. As a result, EU-based platforms have adjusted their […]

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ForkLog 67 07.01.2025

Ripple partners with Chainlink to accelerate RLUSD’s push into DeFi

Ripple has partnered with the decentralised oracle network Chainlink to speed the integration of the RLUSD stablecoin into DeFi.

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ForkLog 88 04.01.2025

Ethena plans Telegram integration and a new token launch

Ethena will launch a new stablecoin, iUSDe, for institutional players and a Telegram-based payments app, according to the project’s founder, known as G. https://t.co/01TIlgj1DT — G | Ethena (@leptokurtic_) January 3, 2025 The team plans to roll out these initiatives in the first quarter of 2025, marking the start of Ethena’s evolution into a “neobank”. […]

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ForkLog 279 31.12.2024

Coinbase’s Advantage and Traders’ Revenue Decline Amid Potential USDT Ban in the EU

Cryptocurrency exchanges registered in the EU are gradually phasing out the stablecoin USDT as the MiCA regulation comes into effect, given that its issuer, Tether, has yet to obtain the necessary license. Experts consulted by ForkLog suggest that Coinbase could emerge as the primary beneficiary of this market shift. Its partner company, Circle, already holds […]

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ForkLog 22 31.12.2024

USDT Market Capitalisation Declines Amid MiCA Implementation

On December 30, the EU’s MiCA regulation for digital assets came into effect. The market capitalisation of the leading stablecoin USDT declined from over $141 billion in mid-month to approximately $137.5 billion. The new rules impose stringent requirements on stablecoin issuers, including licensing, reserve standards, and liquidity norms. Agne Linge from WeFi commented to The […]

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ForkLog 15 30.12.2024

Tether CEO Criticizes MiCA as a ‘Gift to Banks’

The current draft of the MiCA law in the EU is described as a “massive gift” to the traditional banking system, according to Paolo Diomede from The Graph. MiCA is nothing but a massive gift to the traditional banking system. Forcing stablecoin issuers to hold >30% of their liquidity in banks only ensures more profits […]

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ForkLog 40 27.12.2024

USDT’s Legal Status Under MiCA Remains Uncertain

The lack of clear guidance from officials leaves the future of the USDT stablecoin in the EU ambiguous following the full implementation of the MiCA legislation. This was stated by Juan Ignacio Ibañez, a member of the MiCA Crypto Alliance’s technical committee, in an interview with Cointelegraph. “No regulator has explicitly stated that USDT does […]

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