Circle, a leading stablecoin issuer, has contributed $1 million in USD Coin (USDC) to Donald Trump’s Inauguration Committee, signaling a significant move towards the mainstream acceptance and maturation of cryptocurrency.
Ripple’s XRP experienced a noteworthy 9% surge, reclaiming its third-place ranking in market capitalization following Ripple’s announcement of launching a new stablecoin, RLUSD. This move signifies a growing investor confidence in Ripple’s ecosystem and its expanding role in the stablecoin market.
The New York Department of Financial Services is poised to approve Ripple Labs’ RLUSD stablecoin, enhancing Ripple’s position in the competitive stablecoin market. The RLUSD, an overcollateralized dollar-pegged stablecoin, is expected to be launched following its approval, potentially increasing Ripple’s market influence.
Earlier today, Tether Treasury has bolstered the USDT stablecoin’s presence on Ethereum by minting an additional 1 billion tokens, as reported by Whale Alert and confirmed by Tether’s CEO, Paolo Ardoino.
South Korea’s largest telecom provider SK Telecom is partnering with Aptos Foundation to integrate Tether’s USDT stablecoin into their T wallet platform, potentially bringing stablecoin access to over 30 million customers.
USDT/USD experienced a slight decoupling, coinciding with Chinese economic easing measures. This event and negative premiums for Binance OTC from USDT/RMB influenced Bitcoin buying patterns and highlighted the interconnectedness of traditional and crypto markets.
Bitcoin.com has partnered with Kiln DeFi to offer USDC lending, allowing users to earn interest on their stablecoins through a transparent, on-chain process on Ethereum.
Circle has introduced a new blockchain-based compliance platform called Compliance Engine, aiming to enhance USDC adoption and compete with rival stablecoins in the growing tokenized real-world assets (RWA) market.
Euler Finance, a DeFi lending protocol on Ethereum, has launched Maxi, a new hybrid stablecoin designed to offer users greater capital efficiency through a diverse asset backing and cross-collateralization.
Circle expands its Web3 platform to include Arbitrum, aiming to increase USDC’s role in decentralized finance and compete more effectively in the stablecoin market.
