Tag: stablecoins

It has been a few years since the digital asset hype took the world by storm and has since fallen to the background. Despite this, the asset type is still popular, and could see more market adoption in 2024.

Poko, the Singaporean Web3 startup backed by the globally renowned accelerator Y Combinator, announced a successful seed funding round on Thursday.

The Hong Kong Monetary Authority (HKMA) has called for the regulation of fiat-currency backed stablecoins similar to that of banks.

PayPal has confirmed it is looking into developing PayPal Coin, a dollar-backed stablecoin as it looks to expand its footprint in the cryptocurrency space.

Japan’s Financial Services Agency (FSA) has revealed it is proposing new restrictions that would only enable banks and wire transfer services to issue stablecoins.

A recent report has called on the US Congress to regulate the issuers of stablecoins and has urged agencies to assess whether the coins pose a systemic risk.

A Bank of England (BofE) paper has highlighted that stablecoins used as money should be expected to face the same regulatory standards as those attached to bank deposits.

US cryptocurrency company Circle has raked in $440m from a funding round.

Cryptocurrencies have taken another step to becoming acknowledged by traditional institutions as a top US regulator has approved the use of stablecoins for the settlement of financial transactions by banks.

It seems as if the Libra Association has ramped up its efforts to get Libra off the launchpad. However, now the European Central Bank has published a research paper warning that stablecoins like Libra could badly impact the markets.