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.
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.
USDT temporarily restored parity with the US dollar tonight. Amid growing competition from other stablecoins launched on behalf of major players in the crypto industry, Tether continues to fight with massive buybacks of previously issued tokens.
Switzerland has issued new bonds that will help investors and blockchain startups mitigate the risks of cryptocurrency volatility. Swiss Crypto Tokens AG has issued a token backed by bonds pegged to the Swiss franc.
The Japanese financial regulator, the Financial Services Agency (FSA), does not classify stablecoin as a cryptocurrency. While emphasizing that fiat-pegged coins are likely not digital currencies, the regulator has clarified the registration requirements for issuers and sellers of these tokens.
On October 23, the most famous cryptocurrency exchange Coinbase announced that it will begin supporting the USDC stablecoin. All Coinbase users can now trade USDC on the official website.
Tether (USDT), the world's best-known stablecoin, broke its peg against the dollar in reverse, falling to an 18-month low and halving trading volumes.
Texas finance professor John Griffin and his colleague Amin Shams published a study claiming that once the price of Bitcoin fell to a certain level, some traders would buy up the sagging asset through the Tether stablecoin, bringing the price back to its previous level.
The world's largest crypto exchange Binance suspended Tether (USDT) withdrawals on Monday morning during a "period of increased activity."
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