STABLECOIN DIGEST 12.06.2020
Regulation and monetary policy
European bank uses stablecoin instead of SWIFT for cross-border transfers
https://decrypt.co/31817/european-bank-uses-stablecoin-instead-of-swift-for-cross-border-transfers
One of Europe’s leading blockchain banks is swapping out SWIFT for the USDC stablecoin.
Marshall Islands Seeks to Establish a ‘Self-Sovereign Identity’ With New Blockchain-Based Currency
Joel Telpner reveals some of the steps the Marshall Islands is taking to launch its national digital currency.
Ball’s in Their Court: Crypto Custodians Waiting on Regulators to Act
Crypto custody firms are mostly treated like traditional assets, ignoring the uniqueness of digital assets and its various complexities.
Ghana’s Central Bank Confirms It’s Still Looking to Pilot a Digital Currency
The Bank of Ghana’s first deputy governor says the institution remains committed to piloting a central bank digital currency.
4,000 Chinese Bank Accounts Reportedly Frozen Due to Crypto Connections
About 4,000 Chinese bank accounts of over-the-counter cryptocurrency traders were allegedly frozen by law enforcement.
South Korean Merchants Open to Accepting Digital Yuan
An article published by Yonhap suggests that South Korean merchants are open to accepting digital yuan as a payment method in the near future.
SEC Launches Virtual Meetups for Fintech Industry Players
The SEC’s fintech wing invites innovators to network and weigh in on regulation in new online meetups.
500 Estonian Crypto Companies Lose Permits After $220B Scandal
Estonia is withdrawing permits from hundreds of crypto companies following Europe’s biggest money laundering scandal.
Indian Government Again Proposes Blanket Ban on Cryptocurrencies
Three months after the Supreme Court ruling to lift the banking ban, India’s Ministry of Finance has proposed to ban cryptocurrencies by law.
Analytics and opinions
Former Chinese Central Bank Exec Praises ‘Commercial Success’ of Bitcoin
Wu Xiaoling highlighted the benefits of the Bitcoin network and highlighted some of the weaknesses it faces nowadays.
Report: Less Than 6 Accounts Control 80% of Wealth on Top Stablecoins
A report by CoinMetrics has found at least 80% of the entire capitalization of five top stablecoin projects is held in less than six accounts on each respective network.
DeFi Records ‘Exponential’ Growth in Assets
DeFi hits new heights with more than 1,000 new assets added in May and total user numbers reaching 550,000.
Examining the Status of Stablecoin Minting and Burning Activities
We selectively analyzed six stablecoins — USDT, GUSD, HUSD, PAX, TUSD and USDC — to uncover their minting and burning activities so far in 2020.
Why Tether has printed $5 billion USDT this year
https://decrypt.co/31581/why-tether-has-printed-5-billion-usdt-this-year
Tether CTO Paolo Ardoino says over-the-counter trading desks and crypto exchanges want dollars on hand, and this is driving up demand.
New projects, partnerships, and investments
One-Third of Institutions Have Invested in Crypto Says Fidelity
A survey published by Fidelity has found that more than one-third of institutional investors globally are exposed to crypto assets.
BitPay’s Prepaid Mastercard Launches in US to Make Crypto Accessible
BitPay rolls out prepaid Mastercard for U.S. crypto customers, hoping to further drive adoption and purchasing power of crypto holders.
Celsius Network Sells Two-Thirds of $15m Equity Offering on First Day
The popular DeFi app Celsius Network has publicly launched a $15 million equity offering, selling out over two-thirds of its target in less than six hours.
Turkish Stablecoin BiLira to Launch on AVA, an Open-Source Blockchain Platform for Creating DeFi Apps
The Turkish stablecoin BiLira will reportedly be launching on AVA, an open-source platform for building and deploying decentralized finance (DeFi) apps and enterprise-grade blockchain solutions that can be run in “one interoperable, highly scalable ecosystem.”
VirgoX enters South American market by listing stablecoin BRZ
VirgoX announced the availability of BRZ, Brazilian Real-backed stablecoin and open trading for BRZ/USDT trading pair for trading on its digital asset trading platform. Deposits and withdrawals to be available simultaneously.
