Stablecoins are a key cog in the cryptocurrency machine. The recent bull market has rekindled a long-simmering debate over whether the biggest such coin is, well, stable. While bitcoin, ether and altcoins have seen astounding price rallies over the past four months, some of the most important growth has been Read more…
Bitcoin has continued trading higher Wednesday after breaking above the $20,000 level during early U.S. trading hours. Meanwhile, with a short supply of bitcoin and a surging demand, traders and analysts are optimistic the oldest cryptocurrency can keep its bull run going for a longer time. Bitcoin (BTC) trading around Read more…
Visa on Wednesday said it is linking its payments network of 60 million merchants to the USDC stablecoin developed by Centre, the consortium founded by Circle and Coinbase. The news was first reported by Forbes. UPDATE (Dec. 2, 15:15 UTC): Added a comment from Circle and confirmation from Visa.
The Centre Consortium, the Coinbase- and Circle-founded project that oversees the USDC stablecoin, has hired Wall Street veteran David Puth as its first CEO. Puth has held senior executive roles at JPMorgan and State Street, and most recently was the CEO of CLS, the foreign exchange settlement provider made up Read more…
Payments startup Circle is getting political. The stablecoin issuer is working with the U.S. government to bypass Nicolás Maduro and support the Bolivarian Republic of Venezuela led by Juan Guaidó. Circle is using USDC, the dollar-pegged stablecoin it issues with Coinbase, to distribute relief funds to medical workers and other Read more…
The super-charged trajectory of the cryptocurrency industry is translating to faster growth at the publicly traded digital-asset brokerage Voyager Digital, where revenue this quarter is tracking at an eightfold increase over the prior 12 months’ average pace. Voyager CEO Steve Ehrlich told CoinDesk in a Zoom interview that the company’s Read more…
Peer-to-peer commerce company Origin is announcing Origin Dollars, or OUSD, a stablecoin whose reserves leverage decentralized finance (DeFi) so that balances grow wherever it resides, no staking or account required. “One thing we’ve all seen in DeFi is a much smaller audience gets it. The barrier to entry is much Read more…
Gamemaker Dapper Labs is using Circle’s dollar-backed stablecoin, USDC, as a global settlement solution for its non-fungible tokens (NFTs). The firms announced Tuesday the move allowed Dapper Labs to add fiat payment options to its website for the first time. The startup’s current flagship offering, NBA Top Shot, launched in Read more…
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As the bitcoin market sees red, DeFi opportunities in stablecoin trading have some borrowing rates exploding to double digits. Bitcoin (BTC) trading around $11,342 as of 20:00 UTC (4 p.m. ET). Slipping 4% over the previous 24 hours. Bitcoin’s 24-hour range: $11,299-$11,943 BTC below its 10-day and 50-day moving averages, Read more…
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USDC backer Circle is teaming with Genesis Trading in a $25 million deal aimed at pushing the stablecoin to the fintech masses. Announced Wednesday, the funding comes from Genesis parent company Digital Currency Group (DCG), which, full disclosure, also owns CoinDesk. The new partnership and funding will enhance Circle’s suite Read more…
