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Binance Adds USDC Trading Pairs – Stellar and Ripple Represented

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Binance announced Friday that it would be adding a few new USD Coin pairs and moving its two existing USDC pairs into the combined stablecoin market called USDⓈ. Both ripple (XRP) and stellar (XLM) will have USD Coin pairs, in addition to their existing stablecoin pairs. The move involves the cancelling of any trades that exist in the current two USDC markets: BTC/USDC and USDC/BNB at the time of...

Stablecoin Wars: Bitfinex Adopts 'Neutral' Stance & Lists Major Tether Compeitors

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Users of crypto exchange Bitfinex and its associated token-trading platform Ethfinex now have a total of six stablecoin options for trading on either platform. Bitfinex Opens Platform to Tether Competitors As Bitfinex writes, for years the only major option in stablecoins was Tether (USDT), and for quite a while Bitfinex was the only way to cash in your Tether successfully – you’d have to pay...

Paxos Standard: Why the Stablecoin You’ve Never Heard of Just Might Take Down Tether

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Several months ago, crypto exchange Gemini made waves when it announced that, with permission from the New York Department of Financial Services (NYDFS), it had created a USD-pegged cryptocurrency “stablecoin” that would provider traders and institutions with a “regulated” alternative to tether (USDT), which was frequently the subject of controversy despite having a multi-billion dollar market...

USD-Backed Crypto Tether Re-Enables Direct Withdrawals of Fiat

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Following an announcement from Bitfinex yesterday regarding their newfound “neutrality” to tether (USDT) and intent to use other stablecoins in addition to USDT, crypto firm Tether has revived its former business model of enabling 1:1 redemption of USDT for USD on its own platform. "Now, thanks to stronger banking as a result of our new relationship with Deltec, Tether is able to return to its...

Stablecoin Wars: Crypto Merchant Service BitPay Lists Paxos Standard

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BitPay today expanded its stable of stablecoin offerings for merchant settlement to include the new Paxos Standard, the most heavily traded of the recently-launched group of "regulated stablecoins." As CCN reported in October, BitPay has already added support for Circle’s USD Coin and Gemini’s GUSD. It has apparently decided not to support USDT -- or Tether --which was the world’s first major...

Stablecoin Wars: Poloniex Eliminates USDC Trading Fees in Bid to Boost Volume

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In case you missed it, Poloniex, one of the major altcoin exchanges, was acquired by Circle in February. Previously, Circle was focused primarily on the major coins versus fiat pairings, but since its acquisition of Poloniex it has had the opportunity to dive into more tokens, and in September it launched its own stablecoin to compete with tether (USDT) and the Gemini Dollar (GUSD), which was...

Stablecoin Wars: Coinbase Token Attracts Capital But PAX Dominates Trading

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It’s now been nearly two months since Winklevoss-led cryptocurrency exchange Gemini fired the first shot in the stablecoin wars through the launch of its USD-pegged crypto token, the eponymous Gemini Dollar. That same day, Paxos -- like Gemini an NYDFS-regulated firm -- made a similar announcement, and before long, crypto unicorns Circle and Coinbase revealed that they had partnered to co-issue a...

Tether's Market Cap Has Dropped by More than $1 Billion in October

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Tether (USDT), the embattled cryptocurrency token whose value is purportedly backed by US dollars, continues to see massive outflows as it struggles to maintain USD parity amid rising competition from other stablecoins launched by some of the crypto industry's biggest names. Blockchain data from Omni Explorer shows that yesterday, on Oct. 30, Tether Limited redeemed another 100 million units of...

Breaking: Crypto Giants Coinbase and Circle Launch Digital Dollar 'USDC'

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Cryptocurrency exchange and brokerage giant Coinbase has provided a major stamp of approval to one of several recently launched USD-pegged cryptocurrency "stablecoins" seeking to supplant tether (USDT) as the leader in this burgeoning market niche. The San Francisco-based Coinbase on Tuesday announced that beginning today, customers can buy, sell, send, and receive USD Coin, the cryptocurrency...

Lack of Transparency to Blame for Tether's Loss of USD Peg: Novogratz

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Five days since losing its U.S. dollar peg, fiat-backed cryptocurrency tether (USDT) continues to trade at a discount to its supposed $1.00 valuation. Defenders have largely chalked up the markdown to FUD, arguing that supporters of other “stablecoins” are launching a coordinated assault on tether, which has long dominated this market niche. However, billionaire investor and cryptocurrency bull...

As Tether Loses USD Peg, OKEx Will List ‘Regulated’ Cryptocurrency Stablecoins

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If tether (USDT) is truly backed by and redeemable for physical U.S. dollars stored in company-controlled bank accounts, the so-called cryptocurrency “stablecoin” should manage to weather this period of uncharacteristic volatility until arbitrage restores its USD peg. If not, we could be witnessing the unraveling of the token that sees more daily trading volume than any other cryptocurrency...

Bitcoin Payment Processor BitPay Launches Stablecoin Settlement [Tether’s Not Invited]

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Bitcoin payment processor BitPay has announced that merchants may now accept settlement in USD-pegged cryptocurrency “stablecoins” Gemini Dollar (GUSD) and USD Coin (USDC), providing them with the ability to denominate their operations in cryptocurrency while remaining immune from market volatility. The Atlanta-based BitPay made the announcement on Monday, explaining that it will allow merchants...