How the U.S. Dollar Shapes the Growing World of Stablecoins
Some people think that if he's elected, the latest family business venture of the US presidential candidate could cause a conflict of interest.
Zurich Cantonal Bank is getting into crypto services. They're offering trading and storage of crypto. Third-party banks can use ZKB's crypto services too.
We've heard that Russia is planning to launch two state-backed cryptocurrency exchanges and a Chinese yuan-backed stablecoin. Local media outlet Kommersant is reporting today that the cryptocurrency exchanges will be launched in two major cities: Moscow and St. Petersburg. The new crypto exchange in St. Petersburg is going to use the SPCEX infrastructure to get up and running. But the government still hasn't decided whether to develop the Moscow-based exchange as a single entity or build it on the foundation of The Moscow Exchange (MOEX).
Circle, the company behind the stablecoin USDC, has announced the launch of its euro-backed stablecoin EURC on Coinbase's Ethereum Layer 2 network, Base. This is a big deal for the EURC stablecoin, as it was only available on Avalanche, Ethereum, Solana and Stellar before.
The cryptocurrency market continues to create substantial wealth for savvy investors who closely follow new project launches.
Stablecoins have become a crucial part of the cryptocurrency ecosystem, providing a bridge between the volatile world of digital assets and the stability of traditional fiat currencies. But how do stablecoins work, and why does their price remain stable?
The Bank of Russia is considering the approval of stablecoins for cross-border transactions, as the country seeks alternative methods for trade with China amidst ongoing sanctions.
