#stablecoin

Deutsche Bank and SC Ventures have successfully executed the first stablecoin swaps within the Universal Digital Payments Network (UDPN). This platform was established to facilitate transactions using stablecoins and Central Bank Digital Currencies (CBDC).

Tether, the company behind the USDT stablecoin, has announced the freezing of 32 addresses, totaling $873,000, linked to terrorism and military actions in Israel and Ukraine.

The Real USD stablecoin (USDR), backed by crypto assets and real estate, has lost its peg to the dollar, resulting in nearly a 50% price drop.

The head of business operations at Coinbase reported that a year ago, Alameda Research minted USDT worth $39.55 billion or about 47% of the total stablecoin supply.

Stablecoin issuer TrueUSD experienced a security breach via a third-party provider, resulting in the exposure of customers’ first and last names, email addresses, phone numbers, addresses, dates of birth, bank details, transaction histories, and blockchain account public addresses.

The Hong Kong Virtual Asset Consortium (HKVAC) has announced a decision to replace the stablecoin USDC and introduce Ripple into two of its crypto indexes, which are based on the top 5 cryptocurrencies.

On October 6, 2014, the first-ever USDT transaction took place, marking the beginning of this stablecoin's journey. Since then, USDT has weathered its fair share of FUD (Fear, Uncertainty, Doubt). However, it's worth noting that USDT has also had several instances where it temporarily lost its peg to the US dollar.

Bridging the gap between fiat and the stablecoin USDC, MoneyGram has unveiled its non-custodial crypto wallet. The payment solution ensures compliance with all KYC norms and maintains adherence to sanction regulations. “We’re turning MoneyGram into a global ATM concept using blockchain,” shared CEO Alex Holmes.

Today, the Federal Reserve Bank of Philadelphia held its seventh annual fintech conference. A significant takeaway was Deputy Chair Michael Barr's pronounced concerns about the risks stablecoins, devoid of federal oversight, might pose to financial stability. On the topic of CBDCs, Barr remarked that decisions remain on the distant horizon.