Tag: stablecoin

Philippines-Based UnionBank has Launched a New Stablecoin

Philippines-Based UnionBank has Launched a New Stablecoin

  • The new PHX stablecoin is pegged to the Philippine peso, backed by reserves from UnionBank, and implemented on the bank's i2i platform.
  • Three rural banks have already successfully used PHX for transactions, such as buy, transfer, redemption transactions and domestic remittances, on the i2i network.
Huobi's Stablecoin Sees a Successful Launch and 30 Million USD in Trading Volume

Huobi’s Stablecoin Sees a Successful Launch and 30 Million USD in Trading Volume

  • Starting today, HUSD is a separate token, rather than a virtual encapsulation of stablecoins on Huobi.
  • The trading volume of the token is already impressive, and likely to grow as Huobi has introduced 0-fee trading for it.
Huobi Revamps its Stablecoin System with New ERC-20 Token

Huobi Revamps its Stablecoin System with New ERC-20 Token

  • The new ERC-20 HUSD Token was developed by Stable Universal, and will be pegged to the U.S. dollar and held in reserve by the custodian Paxos.
  • A "top U.S. auditing firm" will be conducting monthly checks, to make sure that the USD reserves match the supply of HUSD Token.
Busan, South Korea, Dublin, Ohio are Creating Their Own Cryptocurrencies

Busan, South Korea, Dublin, Ohio are Creating Their Own Cryptocurrencies

  • Busan's cryptocurrency, built in collaboration with BNK Busan Bank, will be a stablecoin.
  • Dublin, Ohio, will soon have a local crypto token which is not backed by fiat. It will be running on the Bitcoin Cash blockchain as an SLP token.
Binance in Discussions with Facebook about Listing of Libra

Binance in Discussions with Facebook Concerning Libra

  • Preliminary talks show Binance will list Facebook's Libra coin on its marketplace.
  • Gin Chao, Binance's Strategy Officer, confirmed that they "would probably want to list" the coin.
A pile of US dollar banknotes

Circle and Coinbase Form a Consortium to Promote USDC

  • Centre's main goal is to develop and support the USD Coin infrastructure, community and adoption.
  • Circle and Coinbase are looking for new members in their consortium.
Tall buildings as seen from the ground.

J.P. Morgan Will Begin Customer Trials of Its “JPM Coin”

  • J.P. Morgan Chase will reportedly start trials of its "JPM Coin" with several of its corporate clients, which remain unnamed.
  • The "JPM Coin" was revealed in mid February, with the coin being presented as a stablecoin tethered to the U.S. dollar.
A Regulated, Bitcoin Cash-Based, USD-Backed Stablecoin Has Been Released

A Regulated, Bitcoin Cash-Based, USD-Backed Stablecoin Has Been Released

  • A new regulated stablecoin has been created, this time it uses the Bitcoin Cash blockchain as its host.
  • The backing technology is the Simple Ledger Protocol, also chosen by Alliance Cargo Direct and Liberland for their own respective tokens.
The Facebook homepage opened on a laptop

New Details Around Facebook’s Secretive Blockchain Project Have Emerged

  • The secret project is presumably called "Libra".
  • It is expected to be a stablecoin backed by multiple fiat coins, running a node might be subject to a $10,000,000 fee.
Facebook to Announce Its Own Cryptocurrency

Facebook to Announce Its Own Cryptocurrency

  • Facebook will reveal their own cryptocurrency this month.
  • Facebook employees will have the opportunity to receive their salary via the new cryptocurrency.