Bitcoin Blockchain and Cryptocurrency News Center
The market is starting to differentiate between stablecoins, even though these cryptocurrencies are all designed to trade 1-to-1 with fiat. Several U.S. dollar-pegged cryptocurrencies are now trading either significantly higher or significantly lower than the greenback, reflecting investors’ perceptions of their relative risk, the CoinDesk reported. Given that stablecoins are typically used as on-ramps for […]
According to the CoinDesk article published on September 14, the top-20 exchange is phasing out an embattled cryptocurrency. Digifinex has decided to replace tether (USDT), perhaps the best-known “stablecoin” designed to maintain a steady exchange rate with the U.S. dollar, with a rival, TrustToken’s TrueUSD. Based in Singapore, Digifinex handled $131 million in trading volume […]
As CoinTelegraph reported on Sept. 12, with the approval of the New York Department of Financial Services (NYDFS), Paxos and Gemini officially announced the introduction of two stablecoins called the “Gemini dollar (GUSD)” and the “Paxos Standard (PAX).” Both stablecoins are backed by the U.S. dollar on a 1:1 basis, with every unit of GUSD and PAX representing the value of one U.S. […]