Ondo Finance Launches Three Tokenized U.S. Treasuries and Bonds
Ondo Finance, a DeFi firm offering decentralized investment opportunities, has launched tokenized versions of U.S. treasuries and bonds.
Airtm Winds Down Cryptocurrency Trading, Exchanges All Funds to Native Stablecoin
Airtm, a Latam popular cryptocurrency exchange and wallet, has announced it is winding down cryptocurrency trading and custody in its platform. The company stated that starting Jan. 4, 2023, all cryptocurrency deposits and withdrawals would be paused due to the changes in the service offer of one of its providers.
The Niche Application of Stablecoins Is Not a Bad Thing
In December, the United Nations announced a plan to start sending aid to Ukrainians displaced by the ongoing war with Russia using a stablecoin. Beginning in the cities of Kyiv, Lviv and Vinnytsia, the Office of U.N. High Commissioner for Refugees (UNHCR) would send direct payments of USDC, the second-largest stablecoin by market cap, to people to pay for things like rent, food and heat.
COTI CEO Differentiates Djed As Overcollateralized Stablecoin
Shahaf Bar-Geffen, the CEO of COTI, said Djed is an overcollateralized stablecoin and not an algorithmic stablecoin.
BUSD Sees $5 Billion Reduction in Supply in 24 Days, Relationship With Turkish Lira Continues
According to statistics, the stablecoin BUSD saw a significant drop in its supply over the past 30 days, shedding roughly 23.8% from Dec. 5, 2022, to Jan. 6, 2023. Since Dec. 13, 2022, BUSD’s supply has been reduced by more than $5 billion, going from $21.84 billion to its current level of $16.77 billion.
New COTI Partnership to Enable NFT Payments with Cardano Stablecoin DJED
The launch of the stablecoin on Cardano’s mainnet is expected to occur this month.
Hong Kong Lawmaker Says E-HKD Has Potential To Be a Stablecoin
Hong Kong should make efforts to encourage the establishment of virtual assets rating agencies, and consider developing the e-HKD, the city’s central bank digital currency (CBDC) in the works, into a stablecoin, a Hong Kong lawmaker said in a recent media interview.
Judge Rules Celsius Owns Funds in Earn Accounts, Paving the Way for Stablecoin Sale
Judge Martin Glenn, who is presiding over the Celsius bankruptcy case, ruled on Jan. 4 that the funds in the Celsius interest-bearing Earn program belong to Celsius under the terms of the program’s terms of use. The funds reportedly amount to more than $4 billion.
Ripple to Develop National Stablecoin for Island Country Palau, XRP Up 6%
Ripple’s XRP gained upwards of 6% in the last week up to December 27, following the announcement that the blockchain was working with Micronesia island nation Palau on a stablecoin project. During a cryptocurrency conference held in Singapore, the President of the Western Pacific nation, Surangel Whipps Jr., said his country was involved in various crypto projects, including a government-issued stablecoin in collaboration with Ripple.
How Tether Can Be a More Stable Stablecoin
The crypto economy has suffered two major crypto failures this year: the collapse of Luna/TerraUSD in May and the failure of FTX in November. In both instances, the world's largest stablecoin, Tether, was caught in the blast radius as waves of redemptions poured into the company. It shrunk by $18 billion, or 21%, in May and June and by another $4 billion, or 6%, in November.
