Cardano’s Dexes to List First ADA-based Stablecoin Djed Next Week

DEXs, MinSwap and MuesliSwap, currently have $30 million and $6.5 million worth of liquidity locked in them respectively   On Thursday, COTI Network, the issuer of the Cardano-backed stablecoin Djed announced its upcoming listing on major DEXs MinSwap and Muesliswap. COTI also added that Shen, its reserve coin, would be on that listing. MuesliSwap to List DJED and SHEN On Thursday afternoon, COTI retweeted the MuesliSwap announcement that revealed the exchange’s plan to list $Djed and $Shen in the coming…

Russia and Iran Consider Deploying a Gold-Backed Stablecoin

The government of Russia may be partnering with Iran’s central bank to issue a new stablecoin backed by gold.  The stablecoin’s purpose will be to facilitate cross-border trade settlement. Russia’s New Trade Plan Per a report from the Russian media outlet Vedomosti on Monday, the stablecoin could ideally work as a substitute for dollars, ruble, and euro in foreign trade.  Anton Tkachev confirmed that negotiations for such a token were already taking place. However, the ongoing discussion at state level…

Orange Financial To Launch Innovative Yield Farming Treasury – Stablecoin Rewards for NFT Holders

Orange Financial, a multi-chain yield farming treasury, is excited to announce its public mint date on February 1st, 2023. As the only NFT project to offer stablecoin rewards through yield farming to its holders, Orange Financial will revolutionize the world of yield farming and NFTs. Through its innovative approach, Orange Financial has created a basket of DeFi assets and farming opportunities to provide yield for its NFT holders. The Treasury takes care of all the compounding and harvesting on behalf…

Stablecoins Could Undermine the Safety of the Banking System: FDIC Chief

Martin Gruenberg – Chairman of the Federal Deposit Insurance Corporation (FDIC) – has expressed worry over how stablecoins could affect U.S. banking.  During a speech at the Brookings Institution on Thursday, the chairman said a payment stablecoin could “fundamentally alter the landscape of banking.” “Economies of scale associated with payment stablecoins could lead to further consolidation in the banking system or disintermediation of traditional banks.”  Federal Reserve Vice chair Lael Brainard has previously noted similar risks, recommending a CBDC to…

Tether Claps Back at “Disinformation” From Wall Street Journal

Tether – the issuer of the world’s largest stablecoin, USDT – has released a statement responding to the Wall Street Journal (WSJ)’s latest claims about the status of its reserves. It labeled the outlet’s assertions as “a series of unsubstantiated conclusions” seeking to discredit Tether’s attempts to remain transparent with the public. Claims from WSJ In an article published on Saturday, WSJ reviewed parts of Tether’s history and accounting process that make its reserve dependability seems less than ideal. One…

What is Taro? Trading Assets and Currencies on Bitcoin

Taro leverages Bitcoin, lightning, and Taproot to enable the peer-to-peer transfer of currencies and assets beyond just BTC. —  Worried that Bitcoin is too boring to play within the growing digital asset economy? Fret no longer.  Using Taro, the original blockchain network can support the decentralized exchange of multiple assets – including fiat currencies. Moreover, the protocol works together with the lightning network, letting users transact – instantly and for free – with non-BTC-denominated balances.  Read below to learn about…

Centralized Stablecoins Could Impact Future Ethereum Hard Forks – Vitalik Buterin

During a recent Korea-based tech conference, BUIDL Asia, Vitalik Buterin shared his views on the future of stablecoins.  In his statement, the Ethereum co-founder asserted that centralized assets such as USDC and USDT could play key roles in certain prospective hard forks.  How Centralized USDT Could Tie into Hard Forks The event took place on Wednesday, August 3rd, and saw Buterin in attendance to speak about Ethereum’s approaching update, the Merge. Illia Polosukhin, co-founder of Near Protocol was also present…

More Stablecoin Failures Could Be Coming, Warns IMF

Tobias Adrian – Director of Monetary and Capital Markets for the IMF – thinks crypto may still have blood left to lose. He recently warned that crypto markets may continue to decline while more coin offerings, such as stablecoins, fail like Terra. No Stablecoin is Safe Speaking in an interview with Yahoo Finance published on Wednesday, Adrian said selloffs across both crypto and equities may continue. The dropoff would be even harder in the event of a recession. “There could…

Russia’s Central Bank Prefers a Digital Ruble Over Private Stablecoins

A representative of Russia’s Central Bank recently denounced private stablecoins in favor of a possible digital ruble. He claimed that the former is unsafe because its owners do not control the assets backing their value. CBDC VS Stablecoins As reported by local media on Monday, the unnamed representative argued that stablecoins are not in fact “stable” in value. Stablecoins are cryptocurrencies that attempt to circumvent industry volatility by pegging their value to relatively stable, real-world assets. They typically rely on…

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