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The stablecoin issuer has also joined forces with BitoPro Crypto Exchange operator, BitoGroup. Circle Internet Financial has announced a strategic partnership agreement with BitoGroup and Taiwan FamilyMart in a bid to expand USDC’s usage in East Asia. According to a press release published on Oct. 26, under the agreement the parties launched a new program called Points-to-Crypto, where FamilyMart customers can convert their loyalty points dubbed FamiPoints into the USDC stablecoin. The conversion is made possible thanks to BitoPro Crypto Exchange, a Taipei-headquartered trading platform owned by BitoGroup. “With the introduction of USDC in the enhanced ‘Points-to-Crypto’ service, we aim to empower the Taiwanese community to participate in the digital economy seamlessly and support Taiwan’s stance in embracing digital fintech innovations.” Circle Vice President of Asia Pacific Raagulan Pathy You might also like: Web3 is disrupting sports, enter...

Binance.US users “may convert” their USD funds to stablecoins or other digital assets in order to withdraw USD funds from their accounts, the firm said. Cryptocurrency exchange Binance.US has updated its terms of service, hinting that direct withdrawals in the U.S. dollar are no longer supported on the platform. Binance.US updated its terms of service on Oct. 16, significantly modifying the section about the “BAM Fiat Wallet,” referring to Binance US services related to USD custody. In the updated terms, Binance.US wrote that users “may convert” their USD funds to stablecoin s or other digital assets in order to withdraw USD funds from their accounts. Some cryptocurrency enthusiasts took to X (formerly Twitter) to confirm the terms of service's change on Binance.US. "Binance seizes USD. Don’t worry you can buy Tethers printed out of thin air or shitcoins," one crypto observer on X wrote. Binance US seizes USD. Don’t worry you can buy Tethers printed out of thin air or ...

Circle has initiated the minting of its stablecoin, USDC, directly on Ethereum’s layer-2 solution, Polygon, aiming to enhance transaction speed and reduce fees. Circle, a major stablecoin issuer, unveiled its plans to mint its stablecoin, USD Coin (USDC), directly on Ethereum’s layer-2 scaling solution, Polygon. This progressive step eliminates the need for users and developers to bridge USDC from Ethereum’s mainnet to other blockchains. This change offers an enhanced experience as Circle’s Mint tool and developer APIs now integrate with Polygon’s efficient scaling infrastructure. What makes this move noteworthy is the advantage it offers to businesses and developers. With this integration, they can now construct decentralized applications using USDC on the Polygon network. 1/ It’s official. #ItsStillStableSeptember and $USDC is now available natively on @0xPolygon PoS mainnet! Learn the benefits of native USDC and how to switch from bridged USDC.e ht...

Aave has launched its algorithmic stablecoin , GHO, backed by multiple crypto assets, including ethereum (ETH). GHO will be an alternative to DAI, a stablecoin minted by MakerDAO. Aave’s GHO is live  After more than one year in development, Aave, the world’s second-largest decentralized finance (DeFi) protocol, has launched GHO (pronounced “go”), an overcollateralized decentralized algorithmic stablecoin on Ethereum.  On July 15, Aave said DeFi market participants could mint the GHO stablecoin by depositing supported collateral assets into the Aave Protocol V3 on Ethereum.  Let's GHO! Congrats to the @AaveAave community on the Mainnet Launch. https://t.co/vI7JbMLYb4 — GHO (@GHOAave) July 15, 2023 Unlike popular stablecoin s like tether (USDT), issued by centralized entities, the GHO algorithmic stablecoin will be issued and managed by AaveDAO, a decentralized autonomous organization.  In correspondence with Bloomberg, Stani Kulechov, founder and CEO of Aave, sa...

Tether supply across cryptocurrency exchanges has dropped 28% in 2023, however, hinting at an overall decline in demand for stablecoins. T ether (USDT) continues to benefit from the ongoing turmoil in the U.S. dollar-backed Stablecoin industry with its market capitalization growing significantly in Q1 2023 at other stablecoin s' expense. Tether market cap reaches $80 billion On April 6, the circulating market cap of USDT surpassed $80 billion for the first time since May 2022 with a gain of $15 billion so far in 2023. USDT circulating market cap 12-month performance. Source: Messari On the other hand, the market caps of its chief rivals, namely USD Coin (USDC) and Binance USD (BUSD), fell by about $12 billion and $9.4 billion, respectively. USDC and BUSD circulating market cap year-to-date performance. Source: Messari Tether benefits from non-U.S. status Crypto traders opted for Tether given the growing concerns around USD Coin and Binance USD. Notably, USDC market capitalization...