This year, 161 lobbying disclosure reports in the United States mentioned stable currency legislation or regulation, an increase of 79% from the previous month.
Data from the US Senate Public Records Office shows that lobbying activities for stablecoins have surged in the first three quarters of 2023, including lobbying funds from the largest stablecoin issuer Tether. There have been 161 lobbying disclosure reports mentioning stablecoin legislation or regulation, a 79% increase from the 90 reports in the first three quarters of 2022.
Tether: BIT Crypto Exchange will list the euro stablecoin EUR₮
Tether has officially announced that its Euro stablecoin, Euro Tether (EUR₮), will be listed on the cryptocurrency options and perpetual trading platform BIT Crypto Exchange.
Solana Takes the Lead in Daily Stablecoin Transfer Volume
Since the start of December, Solana’s daily stablecoin transfer volume has grown 600% to $16.6 billion and now outpaces major blockchain networks, according to Artemis, an institutional crypto data platform.
Prisma Finance Launches Liquidity Reward Token “smkUSD”
The LSD stablecoin protocol, Prisma Finance, announced the launch of the liquidity reward token "smkUSD" for mkUSD on Twitter. Prisma Finance stated that the stable pool is an important part of the Prisma system, which can achieve efficient settlement and help maintain the system's solvency. It is reported that more than two-thirds of the mkUSD supply is stored in the stable pool, providing stability for the Prisma protocol. SmkUSD will represent the mkUSD deposited in the stable pool and can be used for re-collateralization and rebalancing.
Circle Euro stablecoin EURC has been listed on the Solana network
According to an official announcement on December 18th, stablecoin issuer Circle announced that its Euro stablecoin EURC has been launched on the Solana network, making Solana the fourth blockchain where EURC can be natively used, along with Avalanche, Ethereum, and Stellar. Developers and users can now build and trade both EURC and USDC on Solana, sending, spending, and storing funds globally in a faster and more cost-effective way.
Circle and Fuze sign MOU
The issuer of the US dollar stablecoin USDC, Circle, has announced the signing of a memorandum of understanding with digital asset infrastructure provider Fuze, aimed at expanding the adoption of USDC stablecoins in the Middle East and North Africa region. The goal is to extend USDC to institutions such as banks, fintech companies, traditional enterprises, and Web3 companies in the relevant regions.
Aave community proposal proposes to increase stablecoin interest rate parameters in all Aave deployments
Aave community proposal suggests increasing the stablecoin interest rate parameters in all Aave deployments, proposing to increase the Slope1 of stablecoins to 6%. After this increase, usage and balance rates will continue to be monitored, and additional suggestions will be made as needed. The next step will be to submit an ARFC snapshot vote for final approval based on community feedback.
Casa launches stablecoin vault, supporting USDC and USDT
Since self-custody gold vault provider Casa announced the launch of stablecoin gold vault, Casa members can now hold Tether (USDT) and USD Coin (USDC) as well as Bitcoin and Ethereum in their sovereign multi-key vaults. Casa members can create their own sovereign multi-key insurance vaults for BTC, ETH, and stablecoins for the first time, and manage them within the Casa application.
Galaxy hopes to cooperate with DWS and Flow Traders to launch stable currency AllUnity
Cryptocurrency company Galaxy is looking to collaborate with asset management company DWS and trading expert Flow Traders to introduce a stablecoin to accelerate the widespread adoption of on-chain assets.The proposed stablecoin, named AllUnity, will be fully collateralized and priced in euros, and the entity plans to register in Frankfurt. Their next step involves applying for an electronic money license from the German financial regulatory authority BaFin, with the goal of launching the stablecoin in 12 to 18 months.A spokesperson stated that the stablecoin is intended to be launched on multiple public permissionless blockchains, including Ethereum and Solana.
CertiK Advances Stablecoin Security, Provides Expert Advice to MAS
CertiK, a global leader in blockchain security, recently introduced stablecoin security auditing and compliance consulting services, aimed at bolstering the safety of stablecoins and advancing Web3.0 technology applications. The firm provided expert advice on the regulatory framework for stablecoins to the Monetary Authority of Singapore (MAS), earning recognition. Their services include smart contract auditing and blockchain security evaluations, meeting compliance requirements across various regions globally, and fostering innovation and safety in the stablecoin sector.
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