News and updates related to Stablecoins.
7 articles
Western Union went live with USDPT, a dollar-backed stablecoin, on Solana on May 4. Anchorage Digital Bank is the issuer, and the company plans to use it for agent settlement, institutional listings, and a consumer payments product launching in more than forty countries this year.
Visa added Arc, Base, Canton, Polygon, and Tempo to its stablecoin settlement pilot on Wednesday. The network now spans nine chains and is processing $7 billion in annualised live volume, up 50 per cent in a single quarter.
Meta has begun routing creator earnings through Circle's USDC on Solana and Polygon via Stripe, starting in Colombia and the Philippines. It is the company's first stablecoin product since regulators forced it to abandon Libra in 2019.
Aave's governance voted 99% in favor of GHO, a collateral-backed stablecoin designed to generate revenue for the protocol and reduce reliance on external stablecoin issuers.
Terra's UST stablecoin lost its dollar peg when Luna's price collapsed, wiping out $40 billion in user deposits and triggering widespread liquidations across DeFi.
Paxos has launched the Paxos Standard Token following authorization from the New York State Department of Financial Services, making it one of the first regulated stablecoins.
The Gemini Trust Company, founded by the Winklevoss twins, has launched the Gemini Dollar stablecoin following regulatory approval from the New York Department of Financial Services.
