Stablecoins are a type of cryptocurrency that attempt to address one of the biggest challenges of traditional cryptocurrencies: volatility. Unlike other cryptocurrencies, which are known for their wild price fluctuations, stablecoins aim to maintain a stable value by pegging their price to an external reference, such as a fiat currency or a commodity like gold.
Key takeaways: USDC stablecoin issuer Circle has launched support for Apple Pay Apple Pay integration makes it easier for crypto-native businesses to accept payment from customers that don’t use crypto USDC is the second-largest stablecoin in the industry, controlling more than a $44 billion market share Apple Pay integration makes it easier for businesses to…
Circle, the company behind USD Coin, the second largest market cap stablecoin in the industry, has announced a massive expansion is in the works in the coming months. According to the company’s official statement, USDC will go live on Arbitrum, NEAR, Optimism, and Polkadot by the end of this year. In addition, support for the interoperability-focused Cosmos chain is planned for early next year.
Circle, the issuer of the second largest market cap stablecoin USD Coin (USDC), announced on Tuesday that it is partnering with New York Community Bancorp (NYCB). As a part of the deal, the New York-headquartered financial firm will become a custodian of USDC cash reserves and collaborate with Circle to promote low-cost payments services for “unbanked communities”.
Three Arrows Capital (3AC), a major cryptocurrency hedge fund and venture capital investor, has been hit particularly hard by the recent crypto downturn. The firm was heavily invested in Terra before the ecosystem’s monumental collapse earlier this year. In addition, the fund’s positions on a number of digital trading platforms – including FTX, Derebit, BlockFi, Genesis, and BitMEX – were recently closed and collateral liquidated.
Buying stablecoins with a credit card on the Binance cryptocurrency exchange is quick and easy. Learn about buying stablecoins with a credit card on Binance in our overview.
USD Coin (USDC) issuer Circle has announced it will be launching a new stablecoin product, Euro Coin (EUROC). As the name suggests, ERUOC will be pegged to the value of EUR and redeemable at a 1:1 ratio at all times. The stablecoin will be fully backed by euro cash reserves.
Tether Limited, the issuer and operator of the world’s largest stablecoin Tether (USDT), has announced the expansion of its flagship stable digital currency to Tezos, a rapidly growing Proof-of-Stake (PoS) blockchain. With the launch on Tezos (XTZ), USDT will provide liquidity on 13 crypto networks, including Ethereum, Avalanche, and Bitcoin’s Omni layer, to name a few.
Circle – the operator and issuer of the world’s second largest stablecoin USD Coin – announced on Tuesday that the fintech company’s array of products and services, including Circle Account and Circle APIs, now support USDC on Polygon.