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Today in Crypto: Binance Becomes First Fully Licensed Exchange in El Salvador, Coinbase Offers to Buy Back Up to $150 Million of Its $1 Billion Bonds, Bitstamp in Talks to Raise Fresh Funding, Brazilian CBDC Gets Its Official Name and Logo
8.8.2023
Get your daily, bite-sized digest of cryptoasset and blockchain-related news – investigating the stories flying under the radar of today’s crypto news.__________...
Read More: Today in Crypto: Binance Becomes First Fully Licensed Exchange in El Salvador, Coinbase Offers to Buy Back Up to $150...
Paxos Has Other 'White Label' Stablecoin Opportunities in the Works in Addition to PayPal USD
8.8.2023
Crypto infrastructure provider Paxos Trust is already working on other stablecoin projects similar to PayPal’s new PYUSD, said Paxos’ head of strategy Walter Hessert on CoinDesk TV on Tuesday
Obligatory license for stablecoins? What do the latest FSB guidelines mean
8.8.2023
FSB starts from the definition of “global stablecoin”, which serves as a means of payment and storage and has the potential for adoption across multiple jurisdictions
Japanese startup to use stablecoins and CBDC to link Asian countries
8.8.2023
Soramitsu is developing a cross-border payment system that uses Cambodia’s CBDCs and targets Japan, India, China and Southeast Asia
Bitcoin, Ethereum Technical Analysis: BTC Nears 1-Week High, as Paypal Launches USD Stablecoin
8.8.2023
Bitcoin rebounded on Tuesday, following the news that Paypal was launching a USD stablecoin on the ethereum blockchain. The company hopes the move will bridge the gap between fiat and cryptocurrencies for all of its stakeholders. Ethereum was marginally higher today. Bitcoin Bitcoin (BTC) was back...
First Mover Americas: Market Doesn't React Much to PayPal Stablecoin
8.8.2023
The latest price moves in bitcoin (BTC) and crypto markets in context for August 2, 2023. First Mover is CoinDesk’s daily newsletter that contextualizes the latest actions in the crypto markets
Bank of England will get more power in regulating stablecoins
8.8.2023
The United Kingdom government could rebalance the power between the Bank of England and the country’s principal financial regulator, the Financial Conduct Authority
US Representative Patrick McHenry: Stablecoins ‘Hold Promise as a Pillar of Our 21st-Century Payments System’
8.8.2023
Representative Patrick McHenry, chairman of the House Financial Services Committee, weighed in positively on the launch of PYUSD, a dollar-pegged stablecoin issued by Paypal, a U.S.-based payments company. McHenry stated that if properly regulated, stablecoins “hold promise as a pillar of...
PayPal introduces PYUSD, new stablecoin
8.8.2023
PayPal has introduced its stablecoin to the community. It goes by the symbol PYUSD. PayPal’s stablecoin is backed by the US Dollar with a value equivalent to the fiat currency. Meaning 1 US Dollar translates to 1 PYUSD. The stablecoin will roll out in the days to come; however, the community...
Senator Calls for Audit on Palau’s Ripple-Backed Stablecoin Pilot Program
8.8.2023
Palauan senator Mark Rudimch has called for an audit of Palau’s stablecoin pilot program, launched by the country’s ministry of finance in partnership with Ripple in July. In a letter sent to the public auditor Satrunino Tewid, Rudimch reported the Palauan senate had concerns regarding...
UK's Central Bank Forges Ahead With Plans for a Systemic Stablecoin Regime
8.8.2023
The U.K. recently passed the Financial Services and Markets Act 2023 into law which gave the BoE powers to set up a systemic stablecoin regime
Binance sold USDC for BTC & ETH after Silvergate bank collapse: PoR report
8.8.2023
Binance’s depleting USDC reserves has become a hot topic in the crypto ecosystem, especially after Coinbase CEO’s quip during the company’s Q2 earning call
PayPal stablecoin launch sparks wave of fake PYUSD tokens
8.8.2023
Nearly 30 fake PYUSD tokens cropped up in the wake of PayPal’s most recent announcement
PayPal’s Regulated Stablecoin Is a ‘Watershed Moment’ in Crypto Space, Says Partner Paxos
7.8.2023
“The difference is significant because we have a prudential regulator,” said Paxos head of strategy Walter Hessert
Crypto News Today: PayPal's Stablecoin Debut, Worldcoin's Kenyan Hurdles, and More
7.8.2023
From PayPal's entry into the stablecoin market to regulatory challenges faced by Worldcoin in Kenya, the crypto world continues to be a blend of innovation and controversy
I Have 1M Questions About the PayPal Stablecoin. Here Are 5
7.8.2023
Paypal’s New Stablecoin Sparks Confusion: Wave of Counterfeit Tokens Flood Decentralized Exchanges
7.8.2023
Following the announcement by Paypal of the introduction of a novel stablecoin asset named PYUSD, a wave of counterfeit Paypal tokens has emerged on decentralized exchange (dex) platforms, including Uniswap. The absence of an official release of PYUSD’s token address by Paypal or Paxos...
Global Payment Firm PayPal Launches Crypto Stablecoin – How Does it Work?
7.8.2023
Global digital payments giant PayPal Holdings Inc. is stepping into the stablecoin market.
The fintech behemoth, which was founded more than 25 years ago, is set to become the first major financial institution to launch its own US dollar-backed stablecoin, which will be called PayPal USD (PYUSD)....
Payments Giant Paypal Launches Dollar-Backed Stablecoin PYUSD
7.8.2023
Paypal has introduced its own stablecoin, representing the first venture of its kind by a leading financial firm. Initially reported by Bloomberg, the launch could notably accelerate the slow integration of cryptocurrencies for payment purposes. A New Era for Paypal: Introduction of PYUSD...
Stablecoin Turmoil: $1.53 Billion Redeemed in a Month Amid Declining Trade Volume
7.8.2023
In the brief span from July 12, 2023 to August 6, 2023, the stablecoin economy witnessed a staggering loss exceeding $1.53 billion in value. Among the premier ten stablecoins, Pax’s pax dollar (USDP) experienced a redemption of 39% of its supply over the preceding 30 days. Unstable Times...