STABLECOIN DIGEST 11.09.2020
Regulation and monetary policy
Blockchain platform commercializes digital bank guarantees in Australia
Australia gets more blockchain projects.
European crypto tax firms merge in bid to expand to North American markets
Another crypto merger targets tax reporting.
Bangladesh to get its first blockchain remittance service
Standard Chartered Bank has launched the first remittance service in Bangladesh.
Big European states call for cryptocurrency curbs to protect consumers
https://www.businesstimes.com.sg/government-economy/big-european-states-call-for-cryptocurrency-curbs-to-protect-consumers
Germany, France, Italy, Spain and the Netherlands called on the European Commission to draw up strict regulation for asset-backed cryptocurrencies such as stablecoins to protect consumers and preserve state sovereignty in monetary policy.
At least 3 nations to replace their currency with CBDC by 2030: report
The digital yuan will not unseat the U.S. dollar — at least not right away.
US legislators approve bills for study of blockchain in commerce
The two bills will now go to the House of Representatives for a vote.
Bank of France: stablecoins could impact EU financial sovereignty ‘for decades’
Banque de France Governor François Villeroy de Galhau warned about the threat of “Big Tech” stablecoins.
New Swiss laws provide solid ground for blockchain and crypto
https://cointelegraph.com/news/new-swiss-laws-provide-solid-ground-for-blockchain-and-crypto
Crypto and blockchain get better legal clarity in the alpine country.
Competitors
USDC now capable of 1000 transactions per second with near-zero fees
The asset’s new multichain partner makes it so.
USDC Stablecoin Supply Is up 250% in 2020. Here’s Why
https://decrypt.co/41465/usdc-stablecoin-supply-2020-heres-why
Supply of USDC, the Coinbase-backed stablecoin pegged to the US dollar, has grown 80% since July and is showing no signs of slowing down.
Tether Will be The First Stablecoin to Launch on Solana Network
https://crypto-economy.com/tether-will-be-the-first-stablecoin-to-launch-on-solana-network/
Solana Foundation announced a new partnership with the leading stablecoin, Tether. The technical integration includes launching USDt in the Solana network.
Analytics and opinions
Pandemic has accelerated adoption of digital currency: ECB President
EU residents are becoming more comfortable with digital and contactless payments.
Stablecoins post triple-digit growth in 2020, but institutional rivals loom
https://cointelegraph.com/news/stablecoins-post-triple-digit-growth-in-2020-but-institutional-rivals-loom?utm_source=Telegram&utm_medium=social
Despite stablecoins posting triple-digit market cap growth this year, competition from projects backed by major financial and tech corporations is on the horizon.
Perfect storm leads to big sell-off for Bitcoin and DeFi: Weekly recap
A sharp correction in equities markets led Bitcoin price and DeFi tokens to sell-off sharply but have investors turned bearish?
Maker seemingly gives up on Dai peg as interest rates are raised above 0%
It seems zero interest rates were not enough to keep DAI stable.
Powering DeFi market: Overview of the top 5 DEXs by total trade volume
As trading volumes across many top DEXs continue to soar, 2020 is shaping to be the year of DeFi tech.
Industry leaders say blockchain makes payment services more efficient
Is blockchain the solution in making payments more transparent and secure?
DeFi ain’t just about tokens, quality use cases to overcome challenges
Decentralized finance has taken the crypto world by storm, reshaping the space.
Participants at Cointelegraph China’s DeFi Marathon say that Ethereum 2.0 is not the answer to high gas fees
A better solution might come up before it even exists.
Small value crypto transfers in Africa have increased by 55%
Africans are turning to cryptocurrencies to avoid high fees and currency instability, with transfers to and from the continent increasing 55% over the last year.
New projects, partnerships, and investments
Digital assets firm Cred eyes global expansion using Visa’s network
Crypto borrowing and lending platform Cred has joined Visa’s Fintech Fast Track program to further the adoption of DeFi loans.
Mastercard launches virtual testing environment for central bank currencies
Is Mastercard trying to show some central banks the folly of their ways?
Ethereum Foundation announces $3.8M in new grants
The funds will go to 28 companies working on the Ethereum blockchain.
Yearn Finance shuns governance token with new stablecoin lending protocol
Yearn Finance is launching a MakerDAO like stablecoin lending protocol with no governance token.
