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Stablecoins

Facebook Launches Novi Pilot Program, Receives Pushback From Senators

  • The Novi digital wallet will use Paxos' stablecoin USDP for its services, and will also tap Coinbase for its custodial services.
  • The pilot program was launched in the U,S, and Guatemala, where a limited number of people will be able to download Novi from the Apple App and Google Play Store.

USDC Launches on Hedera Hashgraph

  • The stablecoin will open the door to large scale development in the area of decentralized finance (DeFi) on the network.
  • USDC, the second largest stablecoin on the market, is now available on six different blockchains, including Ethereum, Algorand, Solana, Stellar, TRON, and Hedera.

MoneyGram Partners With Stellar for USDC Settlements

  • The partnership will see MoneyGram connect its network to the Stellar blockchain, allowing connected wallets to access its global retail platform.
  • The financial service company will also work with Circle to enable "near-instant backend settlement" using the USDC stablecoin.

Circle Under SEC Investigation

  • The investigation was revealed in a filing part of Circle's plans to go public through a merger with Concord Acquisition Corp, which valued the company at $4.5 billion.
  • The SEC subpoenaed Circle back in July, requesting a number of documents connected to some of the company's holdings, programs, and operations.

KuCoin Launches 1 Million USDT Black Friday Giveaway

  • The event will take place from 29 September to 10 October.
  • Users will be able to participate in task-based and gamified activities to receive prizes and discounts.

COTI to Issue Djed Stablecoin on Cardano

  • Enterprise-grade fintech platform COTI will issue the Djed stablecoin on Cardano.
  • Djed is based on an algorithmic design that uses smart contracts to main price stability.

e-Money Integrates With Algorand to Launch Stablecoins

  • e-Money will issue eEUR, eCHF, eNOK, eSEK, and eDKK on Algorand.
  • The integration will drive the adoption of Algorand-based applications among European users and enable faster time-to-market dApps offering stablecoins on Algorand.

AID:Tech to Utilize Circle’s USDC Payment Solution

  • AID:Tech has been providing blockchain-based payment solutions for disaster relief since 2015.
  • The company will use Circle's USDC to provide its users with an efficient way to settle and track donations.

Facebook’s Novi Wallet Could Support NFTs

  • During an interview with Bloomberg on Tuesday, David Marcus revealed the social media giant was looking to implement support for NFTs through its Novi wallet.
  • Marcus further said that while the wallet was "ready to launch", Facebook has postponed its release until the Diem project has received regulatory approval.

USDC to be Backed With Cash And U.S. Treasuries

  • USDC reserves will transition to 100% cash and short duration U.S. Treasuries.
  • The move reflects Circle's effort to provide more security and transparency when it comes to USDC's dollar peg.