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| November 15, 2018

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Stablecoin Archives -

Circle’s USDC Stablecoin Added to Coinbase

October 23, 2018 |

The global cryptocurrency exchange based out of San Francisco, Coinbase, has announced the firm will now support Circle’s USDC stablecoin on its exchange and brokerage service platforms. Coinbase believes that blockchain-based digital dollars like USDC provide many benefits to the cryptocurrency market ecosystem.

Also read: Bitpay Announces Stablecoin Support for Merchant Settlement

Coinbase and the USDC Stablecoin

Circle USDC Stablecoin Added to CoinbaseCoinbase announcing the launch of stablecoin support on its trading platform is part of a growing trend within the crypto-economy. On Oct. 23, the Californian exchange revealed that customers in supported jurisdictions can buy, sell, send and receive USDC. In the future, the company says customers in more geographical locations will have the ability to use USDC on the Coinbase platform. The San Francisco firm, noting this is the first time it has supported a stablecoin, says the digital asset is “fundamentally different from other cryptocurrencies.” Moreover, Coinbase says that the USDC token was a collaborative effort between them and the Boston-based Circle Financial.   

“Each USDC is 100% collateralized by a corresponding USD held in accounts subject to regular public reporting of reserves,” Coinbase explains in its blog post. “The underlying technology behind the USDC was developed collaboratively between Coinbase and Circle, in our capacity as partners and co-founders of the new Centre Consortium.”

Circle USDC Stablecoin Added to Coinbase
Coinbase details the team helped Circle develop the USDC token.

Coinbase describes USDC’s benefits throughout the announcement and emphasizes that the blockchain-based digital dollar is far more efficient to send and receive. Additionally, with USDC being an ERC20 standard token, it has the ability to be integrated with applications like Cryptokitties and other Ethereum projects. Lastly, Coinbase considers USDC to be a ‘programmable dollar’ in a sense that makes it easier for developers to add specific functionality.

“For example, given the private keys for USDC, a program can easily send and receive them back and forth using the public Ethereum blockchain,” Coinbase details.

2018 Has Seen a Flurry of Stablecoin Announcements

At the moment, the USDC token is only available on the brokerage side of Coinbase, but the coin will be added to the exchange shortly, the company adds. Coinbase says that the company will be fully compliant alongside Circle Financial by maintaining a “track record of security.” The firm also explains that the two companies’ reputations and compliance-first approach gives them a “unique position” in the growing stablecoin economy.

Circle USDC Stablecoin Added to Coinbase

The Coinbase news follows the Bitpay announcement on Oct. 15, when the payment processor revealed it would support the gemini dollar (GUSD) and the centre coin (USDC) for merchant settlement. Over the last six months, stablecoins have been added to many exchanges and cryptocurrency infrastructure systems. Most of the recent stablecoin announcements have seen exchanges adding other types of stable tokens besides the popular tether (USDT) coin issued by Tether Limited and the Omni Layer.

So far, most of the exchanges and payment processors that boast significant cryptocurrency volume have been adding stablecoins like USDC, GUSD, PAX, and TUSD. Coinbase concluded its announcement by stating that the company has also added USDC to the user-controlled Coinbase ERC20-centric wallet. The addition follows the recent 0x (ZRX) listing Coinbase added to the firm’s lineup of tradable coins.

What do you think about Coinbase adding a stablecoin to the mix? Let us know what you think about this subject in the comments section below.


Images via Shutterstock, Coinbase, Circle Financial, and Pixabay. 


At news.Bitcoin.com all comments containing links are automatically held up for moderation in the Disqus system. That means an editor has to take a look at the comment to approve it. This is due to the many, repetitive, spam and scam links people post under our articles. We do not censor any comment content based on politics or personal opinions. So, please be patient. Your comment will be published.

The post Circle’s USDC Stablecoin Added to Coinbase appeared first on Bitcoin News.

Bitcoin News

The Daily: Peak Blockchain and Stablecoin Drama

October 18, 2018 |

The Daily: Peak Blockchain and Stablecoin Skirmishes

Differentiating truth from fiction isn’t always easy, especially in the realm of blockchain. We’ve got distributed ledger stories both real and fanciful in this edition of The Daily, as well as hardware wallet news, an update on bitcoin futures, and the obligatory smattering of stablecoin drama.

Also read: Blockchain Surveillance Firm Partners With Cryptocurrency Exchange Binance

Blockchain.com Announces Airdrops

The Daily: Peak Blockchain and Stablecoin SkirmishesBitcoin wallet and blockchain analysis service Blockchain.com has decided to host airdrops. The platform, whose 29 million wallets make it the industry’s largest bitcoin wallet provider, unveiled its airdrop program on Oct. 17.

“We think that airdrops, when executed properly, have the potential to meaningfully drive decentralization and supercharge network effects,” they explained. “That’s why we’re thrilled to share a set of guiding principles that will inform Blockchain Airdrops.”

The service promises to be good news for token creators, who can tap into Blockchain.com’s network of ready-made cryptocurrency users. It remains to be seen, however, whether wallet owners will take kindly to being showered with largely worthless tokens. Just as the Coinbase-owned Earn.com allows emerging ICOs to get seen by influencers, Blockchain.com will place ICO tokens in the hands of core users.

“Since Blockchain users self-custody,” the company explains, “they have immediate control, ownership and use of their newly-airdropped crypto. They can participate directly in the network without going through a cumbersome intermediary.”

The Onion Does Blockchain

From one blockchain to another, and satirical publication The Onion has published a short guide to the technology. From the site that brought us such gems as “Man Who Thought He’d Lost All Hope Loses Last Additional Bit Of Hope He Didn’t Even Know He Still Had,” we learn that blockchain “Provides a more efficient way for you to lose all your money at once.” Other choice responses from The Onion’s Q&A include the following:

The Daily: Peak Blockchain and Stablecoin Skirmishes

Bitcoin Futures Volume Soars

Moving back into the realm of real news, CME has revealed that bitcoin futures volume rose 41 percent in the third quarter of this year. This trend attests to the growing interest in bitcoin from traditional financial markets.

Coolwallet S Adds ERC20 Token Support

Coolwallet S, which we’ve previously reviewed, is a fly credit card-sized hardware wallet for storing BCH, BTC, ETH, and other cryptocurrencies. The distinctive wafer-thin wallet, manufactured by Taiwan’s Coolbitx, has just added support for ethereum tokens. Users can now add any ERC20 token to the wallet and manage it via the accompanying iOS or Android app. Due to its portability, the wallet has proven popular with cryptocurrency holders who desire access to their digital assets while on the go.

Stablecoin Spat Breaks Out

And finally, The Daily’s news roundup wouldn’t be complete without some sort of stablecoin drama to report. Tether, whose Twitter account sees activity approximately once a month, broke its silence to take aim at Cameron Winklevoss, owner of Gemini exchange’s rival GUSD stablecoin. A war of words over Tether’s inability to publish a full audit of its USDT dollar-pegged token has erupted, with Bitfinex/Tether defender Whalepool asserting that no fiat-backed stablecoins are fully audited.

“Thank you for continuing the long-standing tradition in crypto where the default position is to go out half-cocked w/out any expertise or knowledge in an area and pretend to know what you are talking about,” Winklevoss retorted.

“While [other stablecoins] might not be able to get a full blown audit,” chipped in The Block’s Larry Cermak, the likes of Gemini, Paxos, and Truesd “are hiring real auditing firms. Now remind me what auditing firm is doing audits for Tether please. I forgot.”

What are your thoughts on today’s news tidbits as featured in The Daily? Let us know in the comments section below.


Images courtesy of Shutterstock.


Need to calculate your bitcoin holdings? Check our tools section.

The post The Daily: Peak Blockchain and Stablecoin Drama appeared first on Bitcoin News.

Bitcoin News

Bitpay Announces Stablecoin Support for Merchant Settlement

October 16, 2018 |

Bitpay Announces Stablecoin Support for Merchant Settlement

On Monday the cryptocurrency payment processor Bitpay announced the company is now supporting settlement options using two stablecoins — the Gemini dollar and the Circle Centre coin. Not only can Bitpay merchants settle in BCH, BTC, and local fiat currencies, but they can also utilize a US dollar-equivalent digital currency.

Also read: BCH Devcon Streamlines Bitcoin Innovation in San Francisco

Bitpay Now Supports Settlement With Two Stablecoins — USDC and GUSD

Bitpay Announces Stablecoin Support for Merchant SettlementStablecoins have been a hot topic recently as a slew of new assets has joined the crypto-economy’s ranks. On Oct. 15 the Atlanta-based firm Bitpay announced the company will now support stablecoins for merchant settlement options. This means Bitpay merchants can choose to accept the Gemini dollar (GUSD) or Circle’s Centre coin (USDC) for settlement instead of settling in BCH, BTC, or local currencies.     

“Bitpay was founded to make payments faster, more secure, and less expensive using Bitcoin for organizations around the world,” explained Stephen Pair, co-founder and CEO of Bitpay during the announcement.

Bitpay Announces Stablecoin Support for Merchant Settlement
Bitpay merchants can now settle in USDC and GUSD.

Using Stablecoins Can Produces Faster Settlement Compared to Traditional Bank Transfers

Pair also adds that stablecoins give merchants more options and a new alternative to settling in BTC and BCH. The Bitpay founder also details that stablecoins give individuals and organizations the ability to transact more fluidly with a “non-volatile settlement solution that does not rely on traditional bank wires.”

“Customers can skip costly, complicated cross-border wire transfers and receive or send international payments with Bitpay with accuracy, reduced fraud risk and quick bank settlement,” the payment processing firm emphasized.

The company also believes that global areas such as South America, Africa, and the Asia Pacific region would benefit significantly from the use of stablecoins. Using Bitpay’s services, traditional fiat bank settlement is initiated the next business day and it can then entail another 24 hours until the final settlement. Stablecoins, BCH, and BTC settle in a much quicker fashion and US dollar-equivalent digital currency prices tend to be far less volatile than regular decentralized assets.

What do you think about Bitpay supporting GUSD and USDC for merchant settlement? Let us know what you think about this subject in the comment section below.


Images via Shutterstock, Pixabay, and Bitpay


At news.Bitcoin.com all comments containing links are automatically held up for moderation in the Disqus system. That means an editor has to take a look at the comment to approve it. This is due to the many, repetitive, spam and scam links people post under our articles. We do not censor any comment content based on politics or personal opinions. So, please be patient. Your comment will be published.

The post Bitpay Announces Stablecoin Support for Merchant Settlement appeared first on Bitcoin News.

Bitcoin News

Exchanges Roundup: Yobit Unveils Random Coin Pump, Okcoin USA Plans Stablecoin

October 11, 2018 |

In recent news pertaining to crypto exchanges, Yobit has announced a “random coin” pump for Oct. 11, the founder of Okgroup has announced Okcoin USA’s plan to launch a stablecoin, and Coinbase’s chief policy officer has predicted that the exchange will attain Japanese regulatory approval by 2019.

Also Read: A Bitcoin Rat Is Occupying Wall Street

Skepticism on Twitter over
Aggressive Yobit Campaign

Yobit, the shadowy Russian cryptocurrency exchange, has announced an upcoming “Yobit Pump” scheduled for 9 a.m. EDT on Oct. 11. According to Yobit’s Twitter, the pump will see Yobit purchase one random coin for 1 BTC every one to two minutes, 10 times.

The comments section beneath the tweet shows a predominantly critical reaction to an aggressive promotional campaign premeditated by an exchange that’s already mired in controversy. Last year, Forbes Ukraine reported that Roskomnadzor, the Russian telecommunications regulator, had launched juridical proceedings against Yobit, with Roskomnadzor seeking to block Russian IP addresses from accessing the exchange.

In 2016, Waves also published a warning pertaining to Yobit after the exchange listed a waves/BTC pairing, even though users were unable to withdraw the cryptocurrency from private Waves wallets at the time.

Okgroup Founder Vows Full Compliance
with Planned Stablecoin

Exchanges Roundup: Yobit Random Coin Pump, Okcoin USA StablecoinStar Xu, the founder of Okgroup, has announced that Okcoin USA is planning on entering the stablecoin market.

In a recent tweet, Mr. Xu posted: “Embracing the tide of technology, the launch of a #CNY backed #stablecoin is an inevitable trend, and it will significantly improve the internationalization of the RMB. OKCoin USA will launch a fully compliant stablecoin.” Xu added that “the dollar-pegged #stablecoin regulated by the U.S. government will strengthen the penetration of the U.S. dollar 100 fold.”

Xu also spoke in favor of stablecoins, stating: “Stablecoins are in essence electronic cash. They have the same attributes. The central bank issues the currency and then it is distributed peer-to-peer. The difference is it’s electronic. Today, the amount of cash in China’s domestic monetary system is not small.”

Coinbase Executive Optimistic About Securing Regulatory Approval in Japan

Exchanges Roundup: Yobit Random Coin Pump, Okcoin USA StablecoinIn a recent interview with Nikkei Asian Review, Mike Lempres, the chief policy officer of Coinbase, optimistically discussed the exchange’s desire to obtain regulatory approval to operate in Japan.

Lempres stated that talks are “going well” with Japan’s Financial Services Authority, adding: “We are … committed to getting it done. It will certainly be in 2019.”

Lempres also spoke favorably of the Japanese regulatory system relating to cryptocurrencies. “The Japanese government is more focused on security,” he explained. “That is good for us … Japan has been an active large market from the very beginning, and has proved resilient as it bounces back from several bad experiences. We think there is great demand for a trusted provider of services here.”

Despite his praise for Japan’s crypto regulations, Lempres noted that there are still several issues to be resolved, including whether or not the regulator would require Coinbase to manage its systems from within Japan in order to obtain a license. “We have everything built to protect our storage … in the U.S,” he stated. “We won’t do anything to even raise (the) possibility of a hack. It would be hard for us to duplicate what we do in the U.S. today in Japan and other countries.”

What is your response to Yobit’s random coin pump? Share your thoughts in the comments section below!


Images courtesy of Shutterstock, Twitter


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Bitcoin News

The Daily: BTC Volatility Low, New Liquidity Ranking Site & PwC Backs Stablecoin

October 8, 2018 |

Markets Update: Bitcoin Cash Prices Up Over 60% This Week

To kick-start the new week, we bring you news of bitcoin hitting a record low — for volatility, not price. There’s also been an altcoin breakout ahead of an impending Coinbase listing, a new metric for ranking cryptocurrencies and an obligatory new stablecoin story. It’s all covered in Monday’s edition of The Daily.

Also read: Rapper Soulja Boy Releases New Single Titled ‘Bitcoin’

Bitcoin Goes Nowhere

Markets Update: Cryptocurrencies See Volatile Prices After Canceled ForkFor the past two weeks, bitcoin core (BTC) has done precisely nothing price-wise, adhering closely to $ 6,600 territory. While behind the scenes there’s been plenty of development work going on, in the markets there’s been little cause for cheer or for gloom. So stable has BTC been, with its volatility hitting a 17-month low, that jokes have been circulating of bitcoin now constituting the world’s most decentralized stablecoin. Some have speculated that the lack of action is evidence of bitcoin maturing as an asset class.

“This is a maturing market, so volatility should continue to decline,” observed Bloomberg Intelligence commodity strategist Mike McGlone. “When you have a new market, it will be highly volatile until it establishes itself. There are more participants, more derivatives, more ways of trading, hedging and arbitraging.” It’s too early to tell whether this interpretation is correct or whether BTC is simply taking a breather before sprinting to its next support level.

0x Climbs on Presumed Coinbase Listing

While BTC has remained stable, the same cannot be said of altcoins. 0x (ZRX) has been one of the best performers over the last 24 hours, up 12% after rumors of a Coinbase listing resurfaced. It’s been all but confirmed for months that the Ethereum-based relaying and governance token would be added to Coinbase at some stage, but screenshots showing 0x appearing on the site’s transactional reports section have convinced speculators that a listing is imminent.

The Daily: Bitcoin’s Low Volatility and High Liquidity, PwC Backs Stablecoin

PwC Teams Up With Cred to Launch Latest Stablecoin

PWC Reveals Blockchain Analytics Tool For Tracking ICO TokensNews of another stablecoin is not news in itself, for such events have become daily occurrences in the crypto space. The entity behind the latest dollar-pegged token is of interest, however. Pricewaterhouse Coopers (PwC) is the world’s second-largest professional services firms, and ranked as a Big Four auditor, right behind Deloitte. It has collaborated with crypto-lending platform Cred to launch a new USD stablecoin.

“We are excited to work with Cred to help increase industry awareness regarding how the asset-backed digital token ecosystem can be secured and scaled on behalf of participants,” said PwC’s Grainne McNamara. “PwC’s commitment to the crypto community at large sends a very strong message to retail investors, mainstream financial services providers and the crypto enthusiasts that the world is moving toward decentralization, transparency and accountability in a system that will evolve beyond the need for trusted intermediaries,” added Cred co-founder Dan Schatt.

Liquidity Is the New Market Cap

Crypto enthusiasts have started talking about a new site that ranks cryptocurrencies by their liquidity rather than their total circulating supply. Coinmarketbook.cc examines the support levels for cryptocurrencies based on the percentage of their market cap that is set in buy orders on exchanges. It records BTC as being way out in front, with 1,417% of buy orders, based on the top 10 exchanges, followed by ether (ETH) at 23%. Thereafter, the next highest in-demand cryptocurrency has just 3% of buy orders set. Ripple (XRP), in comparison, appears way down the list, with just 0.21% liquidity. With the bulk of all ripples under lock and key at Ripple HQ, that’s not such a surprise.

The Daily: Bitcoin’s Low Volatility and High Liquidity, PwC Backs Stablecoin
Cryptocurrencies ranked by buy orders on top 10 exchanges

What are your thoughts on today’s news tidbits as featured in The Daily? Let us know in the comments section below.


Images courtesy of Shutterstock.


Need to calculate your bitcoin holdings? Check our tools section.

The post The Daily: BTC Volatility Low, New Liquidity Ranking Site & PwC Backs Stablecoin appeared first on Bitcoin News.

Bitcoin News

Binance, Okex, Huobi and Upbit Among Investors in New Stablecoin, Terra

August 29, 2018 |

Binance, Okex, Huobi and Upbit Among Investors in New Stablecoin, Terra

Yet another stablecoin is joining the arguably already crowded ecosystem. Terra, as the new fiat-pegged crypto is called, counts four of the biggest cryptocurrency exchanges in the world among its investors, including Binance, Okex, Huobi and Upbit.

Also Read: Morgan Creek Launches Digital Asset Index Fund for Institutional Investors

Terra Firma

Binance, Okex, Huobi and Upbit Among Investors in New Stablecoin, TerraTerra has announced today it raised an initial $ 32 million in its seed funding round which included Binance Labs, Okex, Huobi Capital, and Dunamu & Partners (the investment firm of Upbit operator). Other than exchanges, Polychain Capital, FBG Capital, Hashed, 1kx, Kenetic Capital, Arrington XRP Capital and Translink Capital also took part in the seed round. The capital is meant for creating a stablecoin that can be used as a payment solution.

Fears about the dependability of Tether (USDT) have led to а torrent of new stablecoins recently, such as the Stronghold USD and Stasis EUR, and more are on the way. Terra is trying to carve a space for itself by focusing on ecommerce integration. Its co-founder, Daniel Shin, is the founder and Chairman of TMON, an ecommerce platform from South Korea. And fifteen companies, with a total of $ 25 billion in annual transaction volume and 40 million customers (including Woowa Brothers, Qoo10, Carousell, Pomelo, and TIKI), have joined the Terra Alliance. The stablecoin is said to be backed by Luna, an asset that derives its value from transaction fees collected on the network. “Much like the moon stabilizes the earth’s rotation, Luna is Terra’s eternal guardian of stability.”

Is There a Need for Another Stablecoin?

Binance, Okex, Huobi and Upbit Among Investors in New Stablecoin, Terra“From experience, I know that faster, more secure transactions at a fraction of today’s fees could be a game-changer for many ecommerce platforms. We are excited to be working with great partners and look forward to beta-testing Terra’s payment system in Q4 of this year,” said Shin. “However, our vision goes beyond positioning Terra as a trusted and secure medium of exchange for ecommerce. The potential application of Terra is immense, and we foresee it being used for all types and forms of financial products like loans and insurance.”

“While we see many stablecoins coming out, Terra’s journey is especially meaningful as they are designing one of the few price-stable protocols with existing, working, and strong go-to-market strategy and usage. We are constantly impressed by the founders’ leadership and earnest commitment to the business, and excited to support the team,” commented Ella Zhang, Head of Binance Labs.

Is there a place in the market for so many new stablecoins? Share your thoughts in the comments section below.


Images courtesy of Shutterstock.


Verify and track bitcoin cash transactions on our BCH Block Explorer, the best of its kind anywhere in the world. Also, keep up with your holdings, BCH and other coins, on our market charts at Satoshi’s Pulse, another original and free service from Bitcoin.com.

The post Binance, Okex, Huobi and Upbit Among Investors in New Stablecoin, Terra appeared first on Bitcoin News.

Bitcoin News

An In-Depth Look at the Cryptocurrency Economy’s ‘Stablecoin’ Trend

August 13, 2018 |

An In-Depth Look at the Cryptocurrency Economy's 'Stablecoin' Trend

Back in the early days, cryptocurrency enthusiasts used to laugh at the thought of a stable cryptocurrency pegged to a specific fiat currency like the US dollar. Although nowadays things have changed and the digital currency tether (USDT) captures more cryptocurrency trade volume than most of the leading nation-state issued fiat currencies like the USD and JPY. Moreover, the past year or so more ‘stablecoins’ have been entering the crypto-economy, and some individuals think stablecoins are necessary elements for the future of this technology.

Also Read: Wormhole Mainnet and Developers’ Guide Launched

The ‘Second Bitcoin White Paper’ Written by JR Willett Unleashes the ‘Stablecoin’ Idea in 2012

‘Stablecoins’ — whether you hate them or love them they have become extremely popular over the last two years, and tether (USDT) a digital currency that’s issued over the Omni Layer protocol has become a puzzling phenomenon. Asset­-pegged cryptocurrencies started being heavily discussed and written about in 2012 in J.R. Willet’s Mastercoin white paper, and around 2014 the concept really started gaining steam. There have been many attempts to create stable coins that failed miserably at pegging. The cryptocurrency, nubits (USNBT), was supposed to stay valued at one US dollar. Nubits stuck to around a dollar since it launched up until June 9, 2016, and then sunk below that point until September 6, 2016. Again the currency kept stable for a while all the way until March 21, and it hasn’t been able to keep the 1:1 ratio ever since then.

An In-Depth Look at the Cryptocurrency Economy's 'Stablecoin' Trend    Tether the King of All Crypto-Dollars

An In-Depth Look at the Cryptocurrency Economy's 'Stablecoin' TrendIn November of 2014, Reeve Collins revealed the project ‘Tether’ a blockchain based coin that’s issued using the Bitcoin Core (BTC) network utilizing the Omni Layer protocol. The Omni network can grant and revoke tokens created by metadata embedded in the BTC chain and the project’s prodigal son is USDT. Every USDT issued is allegedly backed by one US dollar and the creators claim all the funds are held in reserves by Tether Limited’s bank. This particular claim is extremely controversial and USDT has been the center of a lot of attention.

An In-Depth Look at the Cryptocurrency Economy's 'Stablecoin' Trend

Nevertheless, tethers have been consistently stable ever since its price was first recorded on Coinmarketcap in February of 2015. The use of tether has become a popular vehicle for traders looking for a safe haven during bear markets. Tether makes it easier for traders to not have to convert back and forth into fiat and USDT is used by lots of popular trading platforms. Exchanges who use USDT include Binance, Poloniex, Bitfinex, Okex, Huobi, Hitbtc, Bittrex, ZB.com, Bitforex, Fcoin, and there are many more. Because a lot of cryptocurrency prices have been floundering, tether has managed to make its way into the top ten digital currency market capitalizations as USDT is now in the ninth position.   

Maker Dao and Dai Tokens

An In-Depth Look at the Cryptocurrency Economy's 'Stablecoin' TrendAnother interesting stablecoin that has remained fairly consistent so far is the digital currency dai, a token created using the Maker Dao. The Maker Dao is a protocol that’s built on the Ethereum network and essentially it uses the dollar conversion rate when it locks up tokens autonomously. Essentially a user deposits a blockchain-based asset as collateral which then, in turn, creates stable dai tokens. Since dai tokens were first recorded on Coinmarketcap’s (CMC) historical index on December 27, 2017, the price has remained stable between $ 0.99 and $ 1.02 per coin. Dai tokens are not as popular as Tether (USDT), and the platform is relatively new. However the Maker Dao and dai tokens are being regularly traded on decentralized exchanges (DEX), and other token trading platforms like Bancor, Radar Relay, and Ethfinex. Dai is used by these exchanges, and by the general public, for borrowing and leverage opportunities because the currency’s price remains valued at $ 1 USD consistently.

An In-Depth Look at the Cryptocurrency Economy's 'Stablecoin' Trend

The Trust Token Asset Tokenization Platform

An In-Depth Look at the Cryptocurrency Economy's 'Stablecoin' TrendThen there’s the stablecoin called ‘trueusd’ — a coin that’s issued by the Trust Token Asset Tokenization Platform. The creators of trueusd (TUSD) claim that each token is backed by collateralized USD assets dispersed over various escrow accounts within the Ethereum-based Trust Token Platform. So much like tether (USDT) the trueusd tokens are said to be backed 1:1 with the US dollar, and at the moment the currency has a $ 60M market valuation. Exchanges have started using trueusd for stablecoin pairs much like how tether is used these days. Just recently the Indian exchange Zebpay announced using trueusd and the trading platforms Bittrex, and Binance also have listed the coin. Trueusd was first listed on CMC’s historical data on March 6, 2018, and the token has also remained stable between $ 0.99 and $ 1.01 per TUSD.

An In-Depth Look at the Cryptocurrency Economy's 'Stablecoin' Trend

More Stable Coins Are Coming

The three stablecoins mentioned above are probably the most popular so far, and each one has seen significant adoption. The controversial tether (USDT) is the reigning champion of stable assets today. However, there are a slew of other stablecoins that are making their way into the crypto-economy, or plan on joining in the near future.

An In-Depth Look at the Cryptocurrency Economy's 'Stablecoin' Trend
A few new stablecoins planning to join Tether, Trueusd, and Dai. Kowala’s Kusd, Havven’s Eusd, and Vaultusd.

A stablecoin called kowala (KUSD) has recently partnered with the hardware wallet firm Ledger. Ledger devices will be able to send, receive, and store KUSD. Another stablecoin in the works is called NUSD, which is an EOS blockchain-based asset that was built by the Havven development team. Following that project is a smart contract platform that plans to collateralize its tokens called Usdvault (USDVAULT), with gold bullion that’s professed to be housed in Swiss vaults. The Vault creators claim the stable coin will be based off a 1:1 USD price ratio, but the asset’s 1:1 value is essentially backed by the precious metals located in Switzerland. Further not too long ago the unicorn cryptocurrency company Circle Invest explained it is working on a stablecoin as well that will be tied to the value of US dollars.

It seems that even though some of these coins are controversial, and people need to put trust in the claims that the assets are truly backed by a certain collateralized asset, so far they still continue to grow very popular. Of course, the main concern will always be whether or not these stable currencies are truly pegged to real US dollars, and if they’re not and they are based on the price ratio, can they hold the 1:1 values over time.

What do you think about stable coins like tether, dai, trueusd? Do you think this concept will continue to be popular in the cryptocurrency universe? Let us know what you think in the comment section below.

Disclaimer: Bitcoin.com does not endorse nor support these products/services.
Readers should do their own due diligence before taking any actions related to the mentioned companies or any of its affiliates or services. Bitcoin.com is not responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article.


Images via Shutterstock, Satoshi Pulse, Tether Limited, Trueusd, Dai Logo, and Pixabay.


Verify and track bitcoin cash transactions on our BCH Block Explorer, the best of its kind anywhere in the world. Also, keep up with your holdings, BCH and other coins, on our market charts at Satoshi’s Pulse, another original and free service from Bitcoin.com.

The post An In-Depth Look at the Cryptocurrency Economy’s ‘Stablecoin’ Trend appeared first on Bitcoin News.

Bitcoin News

Indian Exchange Zebpay Enables Trueusd (TUSD) Stablecoin Trading

August 7, 2018 |

Indian Exchange Zebpay Enables Trueusd (TUSD) Stablecoin Trading

One of the largest cryptocurrency exchanges in India, Zebpay, has enabled Trueusd (TUSD) trading, deposits and withdrawals. The dollar-pegged stablecoin is offered as an alternative to fiat trading which is problematic under the Indian central bank’s ban.

Also Read: The Daily: New Education Centers, Vietnamese Ask for Fraudster’s Extradition

Zebpay Enables Trueusd

Indian Exchange Zebpay Enables Trueusd (TUSD) Stablecoin TradingMumbai-headquartered cryptocurrency exchange Zebpay has announced the addition of Trueusd (TUSD) trading, deposits and withdrawals going live, starting today, August 6, 2018. Trueusd is part of the recent torrent of so-called stablecoins to have hit the market as fears around the performance of Tether (USDT) refuse to die down.

According to its promoters, each TUSD can be redeemed 1-for-1 for US dollars. Trust Token is said to partner with registered banks and fiduciaries to securely hold the funds backing the tokens. And for increased security, the banks and fiduciaries handle all funds directly. Moreover, the Trueusd system supposedly does not handle or even have access to the escrowed funds. Any institution or individual with a verified True Coin account that passes a KYC/AML check can redeem TUSD for USD.

INR-Crypto Trading Alternative

Indian Exchange Zebpay Enables Trueusd (TUSD) Stablecoin TradingIndian exchanges have been looking for creative ways to stay in business ever since the country’s central bank, The Reserve Bank of India, enforced a ban on all financial institutions under its control from providing services to companies dealing in cryptocurrencies. They have been doing this mainly by stopping fiat support and ramping up peer-to-peer and crypto-to-crypto trading. Zebpay itself launched crypto-to-crypto trading pairs back in April.

Explaining the situation to their clients, the team stated: “We are amidst the phase where our industry in India is facing an unprecedented situation. The recent events led to pausing the INR transactions. Traders across India are curious to find an alternative to INR-crypto trading. At Zebpay, we are working to resolve any trading limitations. As one of the best possible solution, we welcome TUSD as an INR alternative on Zebpay exchange. Being a stable coin, Trueusd is secure to invest and trade in the cryptocurrency market.”

Are stablecoins a suitable replacement for fiat trading, deposits and withdrawals? Share your thoughts in the comments section below.


Images courtesy of Shutterstock.


Verify and track bitcoin cash transactions on our BCH Block Explorer, the best of its kind anywhere in the world. Also, keep up with your holdings, BCH and other coins, on our market charts at Satoshi Pulse, another original and free service from Bitcoin.com.

The post Indian Exchange Zebpay Enables Trueusd (TUSD) Stablecoin Trading appeared first on Bitcoin News.

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IBM Backs the Development of Latest New Stablecoin, Stronghold USD

July 18, 2018 |

IBM Backs the Development of Latest New Stablecoin, Stronghold USD

It seems like a new alternative for Tether (USDT) pops up at least once a week recently. And the latest stablecoin to hit the market involves an interesting supporter, computer technology giant IBM. Stronghold USD is said to be backed one-to-one by fiat US dollars held at the company’s partner bank, Prime Trust.

Also Read: Malta-Based Company Launches New Euro Backed Stablecoin, EURS

Stronghold USD

IBM Backs the Development of Latest New Stablecoin, Stronghold USDStronghold, a trading platform built on Stellar which recently raised $ 3.3 million from Freestyle Capital, has launched a new stablecoin called ‘Stronghold USD’. The token is promised to be backed one-to-one by fiat US dollars, with reserves held by Las Vegas-based Prime Trust – the same state-chartered bank as competing stablecoin TrueUSD. The company also announced a collaboration with IBM to explore uses for the token within business networks on the IBM Blockchain Platform.

“The process for seamlessly managing and trading assets of any form from digital to traditional currencies, needs to evolve as financial institutions are seeking ways to break into new asset classes like cryptocurrencies,” said co-founder and CTO, Sean Bennett. “Asset-backed tokens can provide seamless access to all currencies, improving the global movement of money. We’re honored to work with IBM to explore new ways to use Stronghold USD within.”

That being said, don’t expect to be able to switch over from Tether so fast by yourself. The company states that Stronghold USD are pre-approved tokens that are solely designed as a B2B solution for financial institutions, multinational corporations, and asset managers. So the stablecoin is not available for retail customers yet, but it may become available sometime in the coming months.

IBM Blockchain Development

IBM Backs the Development of Latest New Stablecoin, Stronghold USD“The digitization of real-world assets using blockchain can dramatically transform many forms of financial transactions conducted around the world,” said Jesse Lund, global vice president of IBM Blockchain. “New types of fiat-backed instruments, like Stronghold’s USD token, have the potential to improve the backbone of international banking operations and payments, giving banks an easier way to integrate with public blockchain networks without significant changes to their core banking and compliance infrastructure.”

In general, IBM seems poised to not let the new technology leave it behind in any field. The company announced on Tuesday that it partnered with Columbia University to launch a new center devoted to research, education, and innovation at the New York-based academic institution. The Columbia-IBM Center for Blockchain and Data Transparency is said to combine cross-disciplinary teams of scientists, business people and government experts to explore issues related to the use of digital data with blockchain. It will focus on technologies such as secure multi-party computation, homomorphic encryption, secure hardware, and fraud reduction.

Is the flood of new stablecoins good for the cryptocurrency ecosystem? Share your thoughts in the comments section below.


Images courtesy of Shutterstock.


Verify and track bitcoin cash transactions on our BCH Block Explorer, the best of its kind anywhere in the world. Also, keep up with your holdings, BCH and other coins, on our market charts at Satoshi’s Pulse, another original and free service from Bitcoin.com.

The post IBM Backs the Development of Latest New Stablecoin, Stronghold USD appeared first on Bitcoin News.

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The Daily: Crypto-Inheritance Service, Taiwanese Stablecoin, Bitcoin Gift Cards

July 13, 2018 |

The Daily: Crypto-Inheritance Service, Taiwanese Stablecoin, Bitcoin Gift Cards

Featured in today’s edition of Bitcoin in Brief are a service that allows inheritance of crypto assets and a new stablecoin launched in Taiwan. Also in our daily roundup, crypto terminals have been installed by a restaurant chain in Hong Kong, and a company now offers bitcoin gift cards for easier access to the crypto space.  

Also read: Crypto Phones, Spy Games, Binance CEO vs Vitalik

Startup Offers Crypto-Inheritance Service

A new platform supporting a crypto-inheritance service has been launched by a Latvian startup. The idea was born when cofounder Normunds Kvilis experienced health issues while on a business trip. “It occurred to me then that there was no provision for my own crypto assets, should something serious happen to me,” Kvilis said, quoted by the ICO examiner. “That was essentially where Digipulse came from – I realized there was simply no service on the market for this kind of thing,” he explained.

Digipulse uses a blockchain-based vault allowing its users to upload data that is then stored securely for as long as the platform observes online activity from the account holder. In case no activity is observed over a period of time, the platform sends an automated message to a specified recipient with details on how to access the vault’s contents.

The Daily: Crypto-Inheritance Service, Taiwanese Stablecoin, Bitcoin Gift Cards

According to Kvilis, the business model extends beyond inheritance, incorporating any situation which requires the automated transmission of assets or other information, like documents, passwords and cryptocurrency wallet keys, in accordance with certain pre-set criteria. The platform, which conducted its ICO in October last year, is currently available both as an app and a web-based solution.

Quoted by LSM, Digipulse Head of Business Development, Jānis Zaltāns, added: “We see an increasing trend amongst tech giants like Microsoft, Google, Facebook and Twitter towards developing tools for managing their inactive accounts. However, each service can only operate within their own platforms. Digipulse’s B2B ‘Pulse Network’ aims to provide a unified service for enterprises and user bases of all sizes.”

New Stablecoin Pegged to the Taiwanese Dollar

The Daily: Crypto-Inheritance Service, Taiwanese Stablecoin, Bitcoin Gift CardsA new digital currency, another so-called stablecoin, has been introduced by a company that operates one of the major payment processors in Taiwan. Green World Fintech Services says the crypto is pegged to the New Taiwan Dollar (NTD). The coin has been created using the Ethereum network and is called Taiwan Digital Token (TWDT).

Local media reported that the value of the ERC20 token will be calculated according to the NTD market. Green World claims to have patented a dollar-to-token process that is supposed to protect the TWDT from fraud and money laundering risks.

The project will be realized in cooperation with some established Taiwanese banks. The crypto accounts of TWDT users will be tied to “trusted bank accounts” in order to verify personal data before transactions are permitted.

After the launch, the Green World plans to offer the tokens online and through terminals located in some retail stores. The company hopes that the NTD peg will increase confidence in TWDT among Taiwanese users who seem to be the main target group of the stablecoin.

Hong Kong Restaurants Install Crypto Payment Terminals

A chain of organic food restaurants and other associated businesses in Hong Kong now accepts cryptocurrency. The service has been introduced through a partnership between the conglomeration, FAMA Group, and Pundi X, a company that produces and installs point-of-sale devices supporting crypto payments.

The Daily: Crypto-Inheritance Service, Taiwanese Stablecoin, Bitcoin Gift CardsThe Pundi X terminals accept a number of cryptocurrencies including bitcoin (BTC), ethereum (ETH), and the company’s own token, NPXS. They are also capable of processing transactions from other cryptocurrency wallets through a QR code scan. Once a payment is accepted, customers are also issued a paper receipt.

According to Pundi X CEO, Zac Cheah, 25,000 crypto terminals have been ordered already by businesses in Japan, Singapore, South Korea, and Switzerland in the last six months. The company hopes to supply at least 100,000 Pundi XPOS units globally within the next three years.

Bitcoin Gift Cards to Improve Access to the Crypto Space

Used by individuals who don’t have direct access to the banking system for various reasons, including legal status or age, traditional gift cards have been offering their holders the opportunity to purchase products and services without a bank account or a credit card. Applied in the crypto space, gift cards can significantly improve access to cryptocurrencies and crypto payments.

The Daily: Crypto-Inheritance Service, Taiwanese Stablecoin, Bitcoin Gift Cards

A startup is now working to do exactly that. Kaiusb offers a hardware-software USB wallet which holds an amount of bitcoin (BTC) or ethereum (ETH) determined at the time of order. The product, KUSB, is currently available online, but the team plans to start selling it at a number of physical stores and through other online retailers by the end of this year.

What are your thoughts on today’s news tidbits? Tell is in the comments section below.


Images courtesy of Shutterstock, Pundi X, Kaiusb.


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