Japanese stablecoin technology provider GUGroup completes US$2.9 million in financing
According to Ledger Insights, on December 13th, Japanese stablecoin technology provider GUGroup completed a financing round of 420 million yen (approximately 2.9 million USD), with Japanese investment firm B Dash Ventures participating. GUGroup also raised some funds by selling tokens to some overseas investors.
S&P Stablecoin Assessment Report: USDC received a "strong" rating, while DAI and USDT received a "restricted" rating
On December 13th, Standard & Poor's Global Ratings announced its evaluation of the stability of eight stablecoins, including Dai (Dai), First Digital USD (FDUSD), Tether (USDT), Frax (Frax), TrueUSD (TUSD), USD Coin (USDC), USDP, and GUSD. Analysts mainly focus on the "quality of the assets supporting stablecoins." Overall quality is measured by custody risk, credit, and market value.
AXA IM completes first market transaction using Societe Generale stablecoin
AXA Investment Managers has completed its first real-time market transaction using a stablecoin issued by Societe Generale's digital asset department, SG Forge. In this transaction, AXA IM first purchased 5 million euros worth of the CoinVertible stablecoin (EURCV), which is a digital asset deployed on the Ethereum public blockchain and pegged to the euro. It was then used to invest in green bonds issued by Societe Generale on the Ethereum public blockchain in the form of "security tokens".
Basel Committee plans consultation on stablecoin risk treatment
Basel Committee on Banking Standards, a global bank standard setter, plans to discuss potential revisions to stablecoin standards. This news was released after the committee evaluated the elements of the bank's cryptocurrency risk-prudent standards released in December last year.
Lybra Finance will issue 9,900 LBR grants to MYSO
Stablecoin issuer Lybra Finance announced it will grant 9,900 LBR tokens to DeFi lending platform MYSO. This grant will be used to create lending markets for eUSD, peUSD, and LBR on the Ethereum network, as well as to launch multiple credit markets by providing initial and smaller-scale seed funding.
Societe Generale Launches Euro Stablecoin on Ethereum Blockchain with Bitstamp Listing
Societe Generale FORGE, a subsidiary of French banking group Societe Generale, has launched a stablecoin called EUR CoinVertible (EURCV) tied to the Euro and issued on the Ethereum blockchain. The stablecoin aims to provide stability and safety in the volatile world of digital assets, and is backed by cash deposits and cash equivalents denominated in EUR. Crypto exchange Bitstamp is the first to list EURCV, and is opening order books for the EURCV/USDT and EURCV/EUR trading pairs. Initially, deposits and withdrawals will only be enabled for investors whitelisted by Societe Generale, and the bank's existing KYC and AML compliance procedures will apply to onboarding digital token holders.
FDUSD supply surges 253% since August
The market value of stablecoin FDUSD has approached the $1 billion mark. Since August 4, 2023, the supply has increased by 253%. Currently, the circulation of FDUSD tokens is 921 million.
Euro stablecoin issuer STASIS launches multi-chain integration with Stellar
Stablecoin issuer STASIS has announced a multi-chain integration with Stellar, bringing a new digital version and transparent, euro-based stablecoin to the Stellar network. STASIS EURO is a constituent and regulator of the European stablecoin, and a major participant in the market. EURS assets are settled with Euro-Guthaben at a ratio of 1:1 and are reserved in the Central Bank of Lithuania (Zentralbank Litauens).
Circle denies illicit financing and ties to Tron founder in open letter to US senators
Circle, the issuer of USDC stablecoin, has denied allegations of illicit financing and connections to Tron founder Justin Sun in an open letter to US senators Elizabeth Warren and Sherrod Brown. The letter, signed by Circle's chief strategy officer and head of public policy, Dante Disparte, dismissed claims made by non-profit watchdog group Campaign for Accountability (CfA) that Circle had ties to Sun and facilitated major flows of funds to Hamas or Hezbollah. Disparte stated that Circle does not finance illicit actors and does not provide financial services to Justin Sun or any entity owned or controlled by him. The allegations against Circle are based on unverified social media posts, and Circle terminated all accounts held by Sun and his affiliated companies in February 2023.
A wallet withdrew 601.9 million stablecoins from Binance in the past 4 months
According to The Data Nerd, in the past 4 months, a wallet with an address starting with 0xea8 withdrew 601.9 million stablecoins (BUSD, USDP, and USDC) from Binance. Then, it deposited 601.9 million FDUSD back into Binance. The token amount came from the Gnosis Safe wallet of First Digital Labs.
