stablecoin

PayPal USD Expected to Do Better Than Facebook’s Libra in Stablecoin Market

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[ad_1] PayPal‘s stablecoin is likely to succeed where Facebook‘s failed, thanks to the payment giant’s standing in Washington and policymakers’ greater understanding of the issues in the last three years.  PayPal this month said it was launching PayPal USD, a crypto token pegged to the US dollar, making it the second major global company to … Read more

Portuguese Startup Ethena Garners $6 Million in Funding from DragonFly, Huobi for Stablecoin Development

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[ad_1] Several venture capital firms have collectively poured in millions into Ethena, a Portugal-based startup. A total of $6 million (roughly Rs. 55 crore) has been poured by multiple investment firms into Ethena, that is gearing to launch a stablecoin backed on the Ethereum blockchain in the coming months. Dragonfly led this seed funding round, … Read more

Binance to Swap 750 Million Tether-Tron Token Pairs for Tether-Ether

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[ad_1] Binance said in a tweet on Monday it would swap 750 million tether-tron token pairs for tether-ether in an attempt to maintain the stablecoin’s liquidity. The move comes amid renewed regulatory scrutiny at the world’s largest cryptocurrency exchange and will help cushion some of the fallout from recent blows, including Binance being sued by … Read more

Tether Says It Will Use 15 Percent of Its Profits to Buy Bitcoin; Aims to Diversify Reserves

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[ad_1] Most investments coming to cryptocurrencies are aimed at diversifying the financial portfolios of individual as well as institutional investors. Tether has become the latest company from the Web3 world to have decided to invest some of its business profits into purchasing cryptocurrencies to strengthen and diversify its reserves. The issuer of the largest stablecoin … Read more