In our “Stablecoin” section, we cover news and developments related to stable cryptocurrencies pegged to fiat currencies or other assets. Here you will find information about popular stablecoins, their mechanisms, and their role in the crypto economy. Read the “Stablecoin” section on ForkNews to stay informed about the stablecoin market.
There has been a lot of controversy surrounding the stablecoin Tether lately. This digital stablecoin is used as an equivalent to the US dollar. In theory, 1 Tether is attached to 1 US dollar. New Bloomberg research proves that the current balance of Tether fiat accounts is equal to or even greater than USDT, which was in circulation from September 2017 to July 2018.
This year, several stablecoins (Circle USD, Gemini Coin and PAX) have been listed on major cryptocurrency exchanges. For the first time since 2014, investors in the digital asset market have access to verified, backed and regulated alternatives to Tether (USDT).
Stablecoins have an equal share of critics and enthusiasts. The former believe that these tokens contradict the very idea of cryptocurrencies, while the latter value their low volatility. Over the course of the year, stablecoins have become quite popular as they minimize the risks of investing in cryptocurrencies.
Tether, the issuer of the USDT stablecoin, recently announced the launch of “an updated platform that allows you to verify new customers and directly purchase Tether with fiat and vice versa.”
The largest cryptocurrency platform Binance announced the creation of a new platform - a single market for stablecoins. Company representatives have not disclosed any details regarding the new market, but we do know that USDT will be part of this platform.
Binance, one of the largest crypto exchanges, has announced the addition of USDC to its listing. Binance has opened deposits for USDC and is trading for USDC/BTC, and USD/BNB pairs will be available starting November 17th at 10:00 AM EST.
Swiss cryptocurrency company X8 AG has received an Islamic company certificate for its stablecoins, confirming compliance with Sharia law, and is planning to operate in the Middle East.
Tether Limited, the issuer of the controversial dollar-backed stablecoin USDT, has publicly confirmed that it has established a banking relationship with financial institution Deltec Bank in the Bahamas.
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