BNY Mellon, the World’s Largest Custodian Bank, Will Custody USD Coin Reserves
Circle, a crypto-focused financial services company behind the USD Coin stablecoin, has announced it chose BNY Mellon as a custodian of its USDC reserve holdings.
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USDB Algorithmic Stablecoin Launches on Fantom, New $490M FTM Incentive Program Kicks Off
The Fantom Foundation, the company behind the popular enterprise-oriented DeFi chain Fantom, has launched USD Balance (USDB), an algorithmic stablecoin designed to act as a bridge between traditional finance and DeFi.
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USDC Issuer Circle Launches New Enterprise-Oriented Service to Help Businesses Transact in Crypto
Circle, the issuer and operator of USD Coin (USDC), the second-largest stablecoin in terms of market cap, has revamped its business-oriented service called Circle Account. The updated service will provide enterprise clients with an opportunity to store and settle transactions in USDC.
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Luna Foundation Guard Launches $1 Billion TerraUST Stablecoin Reserve Fund; LUNA Jumps Over 10%
The Luna Foundation Guard (LFG), a non-profit organization launched earlier this year to ensure the stability of the Terra USD (UST) stablecoin peg and boost the Terra ecosystem’s growth, has raised $1 billion for a UST reserve fund.
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Circle’s Valuation Doubles To $9B, Set To Go Public Once Merger With Concord Is Finalized
According to Thursday’s press release, Circle has terminated its existing business agreements with Concord, and has entered a new merger deal that is expected to be finalized by December of this year.
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Leading Tether Rival USD Coin Surpasses $50 Billion in Circulating Supply
Circle’s USD Coin has reached a significant milestone on Tuesday, having surpassed $50 billion in circulating supply for the first time since launching in May 2018. With its recent expansion to the Flow platform, USDC is now providing liquidity and stable value transfers on eight different blockchain ecosystems, including Ethereum, Avalanche, Tron, and Solana.
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Meta Shuts Down Diem Stablecoin Project, Sells IP and Assets for $182M to Silvergate
The Diem stablecoin project, formerly known as Libra, has come to an end. Meta has sold Diem’s intellectual property (IP) and assets to a cryptocurrency-focused bank Silvergate, per Monday’s announcement.
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Solana Labs Launches ‘Pay’ Product to Boost Digital Commerce
Solana Labs, the creators and developers of the leading proof-of-stake (PoS) blockchain Solana, have launched Solana Pay, a new payments service that allows merchants and customers to use crypto as a payment method. Sheraz Shere, the head of Payments at Solana Labs, explains:
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Circle’s USDC Stablecoin Launches on Flow Blockchain
Circle announced the launch of its USD Coin (USDC) on Flow, one of the most widely used Web3 platforms. The expansion to Flow comes roughly two months after USDC launched on one of the leading decentralized finance (DeFi) networks, Avalanche (AVAX).
