Stablecoin Supply Shift: TUSD Jumps 110% While Others Experience Reductions
The supply of TrueUSD (TUSD), a stablecoin pegged to the US dollar, has jumped by 110% in recent weeks, while other stablecoins have experienced reductions in their supply. The article notes that the shift in stablecoin supply is part of a broader trend of increasing adoption and usage of stablecoins, as more businesses and individuals seek to participate in the cryptocurrency market and take advantage of the potential benefits of blockchain technology and stablecoins.
Anchor Contributors Consider Cutting UST Yield to 4% From 19.5%
Contributors to Anchor, a stablecoin project, are considering cutting the yield on the project's UST stablecoin from 19.5% to 4%. The move is designed to address concerns about the sustainability and stability of the project, and to promote greater stability and reliability in the cryptocurrency industry.
Circle Brings USDC Stablecoin to Cosmos, Launches on Noble.xyz Soon
Circle also reveals that USDC is expected to launch on noble.xyz soon.
What Are Algorithmic Stablecoins
Stablecoins have emerged as a critical component of the cryptocurrency ecosystem, providing a bridge between traditional financial systems and decentralized finance (DeFi).
Centi Launches CHF Stablecoin Backed 1:1 by a Swiss Bank
Switzerland-based startup Centi announced the launch of a stablecoin pegged to the Swiss franc on March 21. The token is called the Centi Franc Stablecoin (CCHF), and it will be backed 1:1 by a Swiss bank guarantee.
Will MakerDAO’s New Changes Instill Confidence in DAI
Leading decentralized finance protocol, MakerDAO [MKR], has proposed changes to its Peg Stability Module (PSM) operations in response to DAI’s recent loss of parity with the US dollar. The proposal seeks community approval to adjust the PSM parameters. These were previously adjusted through a series of emergency proposals to prevent the stablecoin’s permanent de-pegging.
Telegram Users Can Now Transfer USDT Through Chats
Telegram users can now send each other tether (USDT), the world's largest stablecoin by market cap, within chats in the messaging app.
Circle USDC Stablecoin Redemptions Rise to About $6 Billion
On March 20, users redeemed $738.6 million USDC, while Circle issued less than $9 million of the token on the Ethereum blockchain, according to researcher CryptoCompare. The day before, customers redeemed $23.3 million as Circle issued $231 million on the network, data shows. Since the beginning of March, Circle burned about $12.2 billion USDC, while issuing about half as much on Ethereum, CryptoCompare found.
Amid Stablecoin Turbulence, Djed To Expand to Ethereum, Binance Smart Chain
The Djed stablecoin would soon be available on Ethereum, Binance Smart Chain (BSC,) and others.
Singapore To Publish Crypto, Stablecoin Consultation Feedback by Mid-2023
The Monetary Authority of Singapore (MAS) aims to publish cryptocurrency and stablecoin consultations feedback by the middle of this year, it said Monday.
