Stablecoins

Circle’s USDC Launches on Avalanche

  • Circle hopes that native USDC support on Avalanche could empower more developers to build eco-friendly decentralized finance (DeFi) applications.
  • Avalanche has become the seventh blockchain to support the stablecoin, following Hedera, Tron, Ethereum, Algorand, Stellar and Solana.

Meta to Trial Novi Digital Wallet on WhatsApp

  • Only a "limited number of people" in the U.S. will be allowed to make transactions on WhatsApp using the Novi digital wallet.
  • The limited trial comes only six weeks after Meta (formerly Facebook) launched the pilot version of Novi in partnership with Coinbase and Paxos.

Mercado Pago to Launch Crypto Services in Brazil Through Paxos

  • The new feature, expected to launch by the end of December, will give Brazilian Mercado Pago users access to Bitcoin, Ethereum, and the Pax Dollar.
  • Once the feature is launched, Brazilian users will be able to directly buy crypto using their existing account balance.

Republic of Palau Partners With Ripple on National Digital Currency

  • Ripple will help the nation explore a USD-backed stablecoin on the XRP Ledger, which could provide a good alternative to a CBDC.
  • The company said we could see the "implementation of the world's first government-backed national stablecoin" as soon as the first half of 2022.

Ardana to Build Cardano-NEAR Crosschain Bridge

  • The goal of the bridge is to allow for funds to flow between the Cardano and NEAR blockchains, and eventually enable cross-chain smart contract functionality.
  • Once the bridge is launched the NEAR token will also become available as an asset on Cardano, and will become usable as collateral on Ardana to mint stablecoins.

Bitso Partners With Circle on Cross-Border Payments Initiative

  • The new tool, called Bitso Shift, will leverage Circle's "powerful APIs and USDC" to make cross-border exchanges seamless between the U.S. and Mexico.
  • Wire transfers to the tool will take between 24 and 48 hours to process, while exchanges between dollar-backed stablecoins and the Mexican Pesos only seconds.

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.