Global #stablecoin market

Bank of America (BofA) is officially preparing its entry into the stablecoin market, marking a significant strategic shift as major U.S. financial institutions increasingly embrace digital assets.

Tether, the issuer of the world's largest stablecoin USDT, has announced the launch of USDT0, a significant milestone in its mission to revolutionize global finance.

Ripple's journey towards a stablecoin took a significant step forward with the New York Department of Financial Services (NYDFS) granting final approval to its dollar-backed stablecoin, RLUSD.

AUSD is a promising new stablecoin designed to maintain a steady value, effectively functioning as a digital dollar. Each AUSD token is underpinned by a combination of cash, U.S. Treasury bills, and secure financial agreements, providing a robust foundation for its value.

Stripe, the renowned privately-owned payments giant, is reportedly in advanced discussions to acquire Bridge, a stablecoin payment platform founded by former Coinbase executive Sean Yu.

In this week’s report, we examine the latest happenings in the cryptocurrency market, including significant regulatory developments, shifts in stablecoin market shares, and the implications of recent volatility in traditional markets.