Global #stablecoins.

In a striking display of confidence, a crypto whale has made significant moves in the market by borrowing stablecoins from decentralized finance (DeFi) protocols such as Aave and Compound.

The crypto market has witnessed a significant liquidity boost, driven primarily by the growth of stablecoins. According to data from CryptoQuant, the total market capitalization of major USD-backed stablecoins reached a staggering $169 billion in late September, marking a 31% increase year-to-date.

The South Korean government is set to introduce stringent regulations on dollar-pegged stablecoins, emphasizing the importance of cross-border transactions in the evolving digital asset landscape.

Coinbase, one of the leading cryptocurrency exchanges, has announced its decision to de-list unauthorized stablecoins across the European Union by December 30, 2024.

Tether is set to launch new technology tailored for the European market in response to evolving regulatory frameworks, particularly with the impending full implementation of MiCA (Markets in Crypto Assets) regulations.

In a significant advancement for digital currencies, PayPal has completed its first business payment using its proprietary stablecoin, PYUSD. This landmark transaction, reported by Paige Smith for Bloomberg News, took place on September 23, 2024, and involved an invoice sent to Ernst & Young LLP.