Stablecoins

The USDC stablecoin is gaining traction, having surpassed a market cap of $60 billion. Its supply has hit a new high of $60.2 billion, reflecting a 100% increase compared to last year.

Since Nixon,s presidency, printing dollars is no longer tied to gold. Because of this, the price of gold (32g) rose from $30 per ounce before 1971 to $3,000. So, the dollar,s value has dropped about 100 times in 50 years.

The result is an amazing combination of the investment properties of gold and the security and scalability of the blockchain.

The pilot initiative for the digital ruble began in August 2023, engaging 600 employees from 12 banks and concentrating on the evaluation of digital wallets, peer-to-peer payments, and automated transactions.

What factors contributed to the 40% increase in gold positions over the past year?

Through EURC conversions, Coinbase seeks to offer European users a more convenient and affordable method to enjoy the advantages of stablecoins.

PayPal stock has entered a bull market, rising over 25% from its lowest point earlier this month.

Tether, the issuer of stablecoins, is broadening its blockchain offerings by introducing the USDT stablecoin to the Aptos ecosystem.

Tether, the stablecoin giant, has revealed its intention to gradually discontinue the creation of USDT on Algorand and EOS blockchains.

PayPal took advantage of the high speed and low cost of the Solana network to become more popular.

BlackRock first tokenized fund can now be transferred to Circle using the USDC stablecoin

Paxos has secured a preliminary license in Singapore by local authorities, paving the way for Paxos Digital Singapore Pte. Ltd. to initiate digital payment token services under the Payments Services Act while awaiting final approval.

Ripple, the issuer of XRP, is making progress on its stablecoin initiatives, following comments made by CEO Brad Garlinghouse at Consensus 2024.