Global #stablecoin

Paxos, a notable figure in the stablecoin sector, has introduced a fresh stablecoin called Lift Dollar (USDL) via its subsidiary Paxos International, based in the UAE.

Solana, ranked as the fourth-largest blockchain by total value locked (TVL), is witnessing a surge in institutional adoption.

Recent reports indicate that the Central Bank of the UAE has given the green light to a new regulation governing the licensing and supervision of stablecoins. Additionally, a set of policies to bolster the banking, insurance, and financial services sectors has been approved.

PayPal has expanded its PYUSD stablecoin onto the Solana blockchain, introducing a new feature called "confidential transfers." This feature allows merchants to keep transaction amounts confidential while maintaining regulatory visibility.

Jack Jia, a former Consensys employee and the founder of Stable.com, has introduced USD3, a new stablecoin focused on payments, despite the current absence of a regulatory framework and market uncertainty.

PayPal has revealed its decision to adopt the Solana blockchain for expanding its stablecoin, PayPal USD (PYUSD), marking a significant departure from its previous reliance on the Ethereum ecosystem.

Nick van Eck, CEO of the stablecoin issuer Agora, recently commented on “yield-bearing stablecoins,” stating they are “not money or stablecoins.” He clarified that stablecoin issuers offering passive income deviate from the core purpose of stablecoins.

After Venmo announced an increase in transaction fees, Dan Romero, co-founder of Farcaster, proposed the idea of a stablecoin payments app for US-based freelancers, citing dissatisfaction within the community.

Tether, the largest issuer of stablecoins globally, has generated an extra 1 billion USDT tokens on the Ethereum blockchain, sparking discussions about a possible surge in the market. This development aligns with the crypto community's keen anticipation of the U.S. Securities and Exchange Commission's (SEC) impending decision regarding a spot Ethereum exchange-traded fund (ETF), slated for later this week.

Hex Trust Group, a prominent crypto custodian headquartered in Hong Kong, has introduced USDX, marking the inaugural native stablecoin on the layer-1 blockchain Flare.

ether's recent revelation that it holds more US Treasuries than Germany has sparked discussions about stablecoin regulation, as its influence in the digital assets realm grows.

Tether, the creator of USDT, has utilized its treasury to generate a substantial volume of its stablecoin. According to on-chain data, Tether Treasury produced 1 billion USDT on May 16, specifically at 16:50 UTC.