There are over 200 issuers of stablecoins globally. However, Tether, the issuer of USDt, and Circle, the issuer of USDC, are the two biggest. They are widely known for the disruptions they have caused in the market. While USDt is third by market cap, USDC ranks seventh, with a $61,250,484,949 market capitalization in the cryptocurrency … Read more
If signed into law, the bill will empower U.S. banking regulators to oversee stablecoin issuers, which could potentially extend the U.S. dollar’s influence in the cryptocurrency market. The U.S. Senate has passed the GENIUS Act, aimed at regulating and making stablecoins more appealing. The bill was approved by a vote of 68 to 30 lawmakers. … Read more
The recent growth of stablecoins such as USDt, USDC, USDe, among others—especially among business owners—is not far-fetched from the fact that they are more likely to retain their value than other extremely volatile cryptocurrencies. For startups that want to key into the use of stablecoins as a method of payment, here are the things you … Read more
Tether has appointed Simon McWilliams, an expert in alternative asset management, as its new Chief Financial Officer (CFO). According to a statement by the company, Simon McWilliams, who previously held CFO positions at Quantmetrics Capital Management and LetterOne in the United Kingdom, will step into the role previously held by Giancarlo Devasini, who has transitioned … Read more
The buzz around the proposed new cNGN stablecoin by the Africa Stablecoin Consortium (ASC), comprising four banks and five other blockchain stakeholders, is phenomenal. Unlike eNaira, which is a Central Bank Digital Currency (CBDC) owned and managed by the Central Bank of Nigeria (CBN) with various limitations and restrictions due to its design, cNGN, the … Read more
Four Nigerian banks – Access, Providus, Sterling and First Bank – are collaborating with others to unveil cNGN token, a new stablecoin aiming to take decentralized finance to a new level. They are to operate under the name, “Africa Stablecoin Consortium (ASC)”. ASC is a consortium of Nigerian financial institutions, fintechs, and blockchain experts. The … Read more