Stable.Report Dec. 3rd - Dec. 9th
Stablecoin News of the Week:
Chinese Crypto Billionaire Developing New Stablecoin 🇨🇳
On Dec. 3 2018, Chinese cryptocurrency billionaire Li Xiaolai announced the creation of a stablecoin project that would operate within the Hong Kong based blockchain fund Grandshores Technology. Rather than just paying for the project, Xiaolai is going to have a hand in the development of the currency, including the launch of the coin. Xiaolai is also experimenting with the creation of a DAG-based database and other blockchain products, in addition to the aforementioned stablecoin.
-via Ethereum World News
Tether (USDT) Stablecoin Surpasses Litecoin (LTC) In Terms Of Market Capitalization At №7 🥳
On December 6th 2018, USDT has surpassed Litecoin(LTC) as the seventh largest virtual currency in the market.
-via Bitcoin Exchange Guide
Tether Dominance of Stablecoin Market falls to 74% 📉
At the start of the year, only three stablecoins traded, with Tether owning 94% of outstanding stablecoin market supply. However, competition has ramped up with at least 8 new contenders dropping Tether’s dominance to 74% at the end of November.
Trading Platforms Bitfinex & Ethfinex Enable Four Major Stablecoins 🤝The user base of the crypto exchange platforms Bitfinex and Ethfinex will now get access to four new major stablecoins, which are backed by USD. Both the platforms were providing Tether and DAI coins for trading. And now they have added four stablecoins which are, USDC, True USD (TUSD), Paxos (PAX) and the Gemini dollar (GUSD).
-Via Crypto News Z
Switzerland Goes Crypto Big: Universa Launches Two Stablecoins 🇨🇭
On December 6th 2018, Universa Blockchain announced that it has launched two stablecoins that are physically backed by gold and Swiss Franc. The two stablecoins dubbed uGold and uCHF are backed by the Gold and the Franc and they are expected to surpass the USD 100 million circulation mark within a year of their launching.
-via Crypto Heroes
Whale: More than $14 Million PAX Transferred to Exchange for Buying 😮
On December 3rd 2018, transactions of more than $14 Million of PAX (Stablecoin) were made into Binance and Okex probably for buying crypto such as BTC, ETH, LTC when the market is panic selling which is happening.
-via Coin Nounce
Estonia to Beef Up Cryptocurrency Laws 🇪🇪
Estonia will soon pass laws to make laundering money with cryptocurrency more difficult, according to local financial news source Äripäev. Estonia grants licenses to cryptocurrency companies, allowing them to trade between fiat currency and cryptocurrency in all combinations of the two.
In November, it gave out another one, this time to a stablecoin exchange called B2BX Exchange.
-via Finance Magnates
Stablecoins The Way Ahead on “Blockchain Island” says Malta’s Prime Minister🇲🇹
Malta has come up as a new crypto hub by providing much-required banking support to cryptocurrency businesses. As bringing changes to the banking regulations were not possible due to the risk associated with cryptocurrencies, the Maltese Prime Minister mentioned stable coins as a way for crypto businesses on the island to move ahead.
-via Coin Page
All Exchanges Should Have Stablecoin and Fiat Pairs Exclusively ✍️
Currently the entire taxonomy and “marketcap” metric of cryptoassets is distorted by their dominant pairings with /BTC and /ETH. Most of these asset’s valuations change dynamically and proportionally with the price of Bitcoin simply because their last matched order was priced in BTC.
-via Eric Lamison-White
AURA & IDXM: The Tokens of IDEX (Aurora) Explained 🤓
IDEX has been live for just over a year, breaking records as the #1 Ethereum Dapp for 8 months and counting. However, there is still some confusion around the two unique utility tokens that support our current and future ecosystem — AURA & IDXM. Let’s take a step back and look at each token’s utility and benefits.
Can the Overseas Money Transfer Industry Benefit By Adopting Blockchain? 📋
In this week’s update, Bitbay analysed the benefits of cross-border transactions based on blockchain from three aspects: (1) the cost factor; (2) The reach and (3) security. It comes to the conclusion that Whilst the cryptocurrency sector has experienced some turbulence in the recent past, there is no denying the fact that blockchain has several benefits to offer. Will it revolutionize the overseas remittance market any time soon? That only time will tell.
Digix Dev Update 4 Dec 2018 — DigixDAO Progress, DGX Promotion for 2018, Marketing Objectives and Team Updates🔬
In this weekly update. Digx introduces two new members to Marketing and Communication team and announced that DGX is listed on Tokocrypto,
Sergio Delivering the Closing Speech at the IDB Sponsored Conference on Algorithmization 🎙
Forctics AB member, Sergio was invited to Uruguay by the Fundacion Astur (founded and presided by the former ECLAC Executive Secretary, former Minister for Foreign Relations of Uruguay and former IADB President Enrique V. Iglesias) to deliver the closing speech at an international conference on Algorithmization: AI as an Opportunity for Inclusive Development in Latin America.
Fragments Rebrands to Ampleforth 💄
Ampleforth has raised a total of $4.75 million from True Ventures, Pantera Capital, Slow Ventures, Nima Capital, Brian Armstrong, FBG, Spartan Group and more. The name, Ampleforth, is a character in George Orwell’s 1984 who is responsible for translating poetry into Newspeak, a language designed to limit freedom of thought. When tasked to replace the word “God” in a Kipling poem, Ampleforth refuses, not out of righteousness, or subversiveness, but rather, a simple love for language and respect for the truth. To him, no other word makes sense in context and therefore no other word should replace it.
Bitcoin Cash Is Now Available on Gemini 🎉
Gemini announced support for Bitcoin Cash trading and custody on Gemini. From December 8th, users would be able to deposit Bitcoin Cash into their Gemini account.
Huobi Announces DLT Gibraltar License and 2019 Expansion Plans 🇬🇮
At a London conference on 5th December 2018, Huobi Global released details on its Gibraltar-issued Distributed Ledger Technology (DLT) license and plans for a fully regulated cryptocurrency exchange.
-via PR News Wire
STASIS Announces BDO Malta as Statutory Auditor and Cash Reserve Verifier
On Dec. 6, 2018, STASIS announced BDO Malta as its statutory audit partner. BDO Malta will provide interim quarterly and annual statutory audits for STSS Malta Limited. Additionally, they will provide weekly cash reserve verification, up until a pre-agreed point in time — an unprecedented level of third-party verification in the stablecoin space.
-via PR News Wire
Bittrex Crypto Exchange Lists Stably’s USDS Stablecoin (StableUSD) 🤝
Stably announced that it has launched its own stablecoin, called USDS and that the coin would be listed on Bittrex. Upon launch, users can begin trading and depositing the tokens.
-via Bitcoin Exchange Guide
Synthetix Launches Crypto-Backed Synthetic Asset Platform After Rebranding From Havven ⛏
Synthetix has launched a new suite of crypto-backed synthetic asset tokens after rebranding from Havven (HAV). These tokens — priced against the Euro, Japanese Yen, Korean Won, Australian Dollar, and gold — complement Synthetix’s first stablecoin (sUSD), which tracks the US Dollar and was launched in June of this year.
-via Business Wire
Quick Guide to Synth Swaps 📖
Synthetix (Havven) launched Synths last night on Mainnet. Swappr will be updated next week to support converting between different Synths, and Synthetix.exchange is coming very soon.
Jibrel: November Update 🔖
Development is moving quickly, Jwallet (Android) to be released in select geographies next week. Jibrel announced that it will be working with several top tier financial institution to build production-ready enterprise solutions.
Kinesis Wins Big in Monaco 😇
Members of the Kinesis leadership team recently attended the Monaco International Blockchain (M.I.B) tradeshow, the first professional tradeshow dedicated to the Blockchain Industry in Monaco. Kinesis walked away as victors as a result of a fantastically delivered pitch from Kinesis CEO, Thomas Coughlin was very well received.
Komodo Releases Updated Documentation For Developers 🛠
In its weekly update, Komodo lists a summary of advantages of its blockchain platform.
Stablecoins: Use Cases 📄
MarkerDAO detailed two use cases of stablecoins in a recent post. It particularly highlighted two areas of application: (1) global currency and (2) decentralised financial services.
MILE Will Bring Financial Transparency to Kazakhstan’s Infrastructure Development 🇰🇿
Under the agreement, Mile Unity will provide Astana officials technological and consulting assistance on the practical application of blockchain technology, which can be used as a better alternative for free, fast and secure international transactions, investments and money remittance. The delegation of the Mile Unity Foundation previously visited Kazakhstan and held several meetings at the ministerial level, as well as with the mayors of the Pavlodar region and Astana.
-via MILE Unity Foundation
The Second Membership Sale Finished! 155 million IMTs have been burned! 📈
November 30th 2018, the highly anticipated Second Membership Sale took place. During this event, Moneytoken.com platform users were privy to 2,000 memberships that were granting zero interest rate loans. MoneyToken.com announced that all 2,000 memberships sold out within the first hour.
BitMart Lists Paxos Standard [PAX], Rebuilding the Trust in Blockchain World 🤝
BitMart Exchange recently announced the listing of Paxos Standard [PAX]. By listing a regulated stablecoin, BitMart aims to rebuild the trust in blockchain world and drive it towards a more mature future.
-via AMB Crypto
The Year of the Stablecoin? 📑
Core Research of Terra submitted a new blog, summarizing the performance of the stablecoin ecosystem and pointed out the limitations of current stablecoin designs.
Attestation of TrueUSD Funds — Examined November 30th, 2018 (published on 6th December 2018) 💰
TrustToken confirmed that Cohen & Company has published their latest independent attestation of the bank accounts holding the collateral for TrueUSD and revealed that Balance of Escrow Accounts is $195,050,843.
Token Twitter Update 🤝
On December 7th 2018, Token announced their partnership with AlmoayedTech to accelerate the development of an ecosystem across the Arabian Peninsula. Together, they aim to deliver a fully operational, best-in-class API banking infrastructure.
XOV adds the TUSD market on Mercatox exchange 🎊
XOV has added the TUSD (TrueUSD) market on the Mercatox exchange. This provides more choice for our XOV.ETH tokenholders and provides a stable currency trading pair relative to the BTC and ETH markets. XOV will continue to provide more choices to its tokenholders