Stable.Report, Feb. 3rd — Feb 10th
Stablecoin News of the Week:
Ex-Tether Exec Joins Venture Launching Stablecoin Clearinghouse 🌊
Phillip Potter, co-founder of Tether (USDT) and former Chief Strategy Officer of affiliate crypto exchange Bitfinex, has joined the advisory board of a new stablecoin clearing house project, Stablehouse. Currently under development by crypto finance company XBTO, it aims to act as a central clearing counterparty (CCP) for stablecoins.
Winklevoss’ Exchange Gemini Shuts Down Accounts Over Stablecoin Redemptions😨
Two OTC trading desks say their accounts at Gemini were abruptly closed without explanation over attempts to redeem GUSD, the company’s stablecoin first introduced in September. The claims leveled against Gemini by the OTC desks, relayed under anonymity due to fears of reputational damage, hint at the business practices developing within the stablecoin ecosystem.
-via Coin Desk
A Regulatory Fork for Stablecoins: Is New Texas Guidance a Sign of Things to Come?🏛
Under the new Texas guidance, stablecoins that are (1) backed by fiat currency and (2) issued with a redemption right to convert the stablecoin into fiat currency at a future date are considered “money or monetary value” under the Texas Finance Code and therefore may be subject to the state’s money transmitter licensure requirement. The guidance adds, “This is true regardless [of] whether the redemption right is expressly granted or implied by the issuer.”
Satoshi Capital Research: Stablecoins Becoming the New Bank Account🙇♀️
According to a new Satoshi Capital research, stablecoins are dominating bitcoin, quickly developing into a major competitor to the traditional bank accounts. The company states that calculations show that the total market opportunity of stablecoins is more than $18 trillion.
-via Bitcoin Exchange Guide
Japan Megabanks Kill Joint Blockchain Money Transfer Project, Turn to Their Own Cryptocurrencies 🇯🇵
Mitsubishi UFJ Financial Group, Sumitomo Mitsui Financial Group and Mizuho Financial Group, said the joint venture was a duplication of their individual efforts and saw no need to continue. Both Mizuho Financial Group and Mitsubishi UFJ Financial Group are developing their own stablecoins, respectively named J-Coin and MUFG Coin.
How Denmark Can Re-Establish Itself as Top Tech Hub 🇩🇰
Copenhagen moved down the list of global tech hubs from #7 to #10, being overtaken by Stockholm, Boston and Singapore. With a few tweaks, Copenhagen could re-establish itself towards the top of the list next year. The ARYZE team explains how in this in this week’s post.
Niall Ferguson Joins Ampleforth 👏
Here’s Ferguson, quoted in the press release: “The idea of reinventing money excites me. Bitcoin, currently, is incapable of being ‘money’ that can be a means of payment. But at the same time, I am doubtful of fiat-pegged stablecoins. As someone who is deeply interested in financial innovation, I’m attracted by Ampleforth’s mission to reinvent money in a way that protects individual freedom and to create a payments system that treats everyone equally.”
-via Financial Times
Carbon Partners With Button Wallet to Enable Telegram-Based Stablecoin Payments and Fiat On/Off Ramp 🤝
Carbon announced a new partnership with Button Wallet — a leading consumer crypto wallet with an exchange on Telegram. With this new listing, Carbon continues to grow their reach and expand on their mission of minimizing friction for crypto users across the world.
Chuck Kimble Joins Celo as Head of Strategic Partnerships 👏
On February 6th Celo announced Chuck Kimble - former head of Financial Institutions Partnerships at Circle- joined the company as head of strategic partnerships.
January 2019 Monthly Report 📄
January was the biggest month yet for Cred. The biggest news was the launch of CredEarn, where users can earn yield from various digital assets and it welcomed users from 105 countries. Other updates include design and marketing strategies, upcoming events and the development of CredEarn’s API for partners to integrate with Cred and leverage the LBA token.
Crypto Market decline: Is this the end? 🤔
The last quarter of year 2018 were tough times for the cryptocurrency market. The price of Bitcoin (which is the leading cryptocurrency) is still at a record low. This has affected the rate of Crypto-adoption because the surrounding narrative seems to have changed due to the price fall. This raises a serious question for those that are immersed in the cryptocurrency universe. Should we be worried? Will digital assets rise above this or will they fall from glory? Goldma presents two strong perspectives emerged from the discussion.
Mint Blockchain and Mining Pool Launch. 🎉
The Goldmint team announced the launch of their minting blockchain and mining pool. Learn here how to participate.
Wirex Adds Dai stablecoin to its Growing List of Tokens 🤝
Wirex, the UK-based digital money platform that allows users to exchange and spend both traditional money and cryptocurrencies, announced today that it has added its first stablecoin, Dai (DAI), to the company’s portfolio.
-via IBS Intelligence
KRWb Lists on Fordex, the First DEX Dedicated to Stablecoin Forex 🎉
KRWb, a South Korean Won-backed stablecoin, is going to be a part of the core, initial trading pairs listed on Fordex. ForDeX will offer KRWb trading across a range of stablecoins so traders have access to a diversified portfolio of liquid digital assets and currencies.
What You Really Need to Know About an IEO 🤔
In this weekly post, MenaPay explains the Initial Exchange Offering (IEO), which has caught the attention of traders around the globe. IEO is actually very much like an ICO, but they rely on an exchange or multiple exchanges for crowdfunding.
Attestation of TrueUSD Funds — Examined January 31st, 2019 📄
Cohen & Company has published their latest independent attestation of the bank accounts holding the collateral for TrueUSD. Balance of Escrow Accounts and Balance of TUSD tokens issued and in circulation match at $207,460,602.
HackerNoon Podcast Talks To Danny An, CEO Of TrustToken 🎙
An interview to discuss the future of TrustToken’ stablecoin (TrueUSD), the importance of compliance, tokenized securities, and the future of the cryptocurrency market.
Pecunio Reinforces Partnership With Hubii 🤝
Pecunio have reinforced the partnership with hubii, by providing consultancy and leveraging their network to help secure hubii funding for all future investment rounds until a potential IPO.
-via PECUNIO Blockchain Investments
STO Issuers Raise Their Game in Push for Regulatory Approval 📄
With the SEC promising to issue “plain English” guidance on security token analysis and the industry waiting for the first SEC-approved security token offering (STO), could 2019 be the year that security tokens become the fundraising tool of choice? QuantmRE CEO, Matthew Sullivan shares his opinion on this topic.
SendGold CEO Named Femtech Finalist in the Fintech Business Awards🍾
SendGold’s CEO Jodi Stanton has been shortlisted for the prestigious Fintech Business Awards for the Femtech category.
Bernard Lietaer 😢
SendGold wrote an obituary to show their gratitude to Bernard Lietaer who had a great impact early in their journey and sadly passed away yesterday at the age of 77.
Regtech Done Right: Stronghold USD + Stronghold’s New Trading Platform 👍
Stronghold launched a hybrid trading platform with a regulatory framework and decentralized settlement, integrating compliance, monitoring and reporting requirements. The company also announced the release of SHx, a utility token that’s used to pay for fees on the Stronghold platform.
Stably Closes $1.2M in Series A Funding Round 🥂
Stably announced it has completed a $1.2 million Series A round of financing. The round was led by several high net worth individuals in the Pacific Northwest, led by Paul Stahura, co-founder of Donuts Inc.
How We Marketed Our Product: Insights, Mistakes and Working Strategies 📲
The USDX Wallet team shares their experience and insights into their social media strategy, specifically with Telegram and airdrops.
-via USDX Wallet
XOV plans to launch a cryptocurrency payments service 🛠
XOV is preparing to launch XOV Connect, a decentralized cryptocurrency payments service. The new payments brand, Slipstream, is expected to launch next month.