Stable.Report: Nov. 19th — Nov. 25th
Stablecoin News of the Week:
NOV 26th — Stablecoin NY — 2nd Trade Event 🗽
Stablecoin.Foundation has partnered with BECON on the next Stablecoin trade event. We are selecting speakers and panelists. Reach out if you want a FREE day and VIP dinner pass.
Crypto Merchant Service BitPay Lists Paxos Standard 🤝
On 21st November 2018, BitPay 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. BitPay has already added support for Circle’s USD Coin and Gemini’s GUSD.
Circle’s USDC Passes Independent Audit, Fully Backed by USD 📄
The Circle Internet Finance-issued stablecoin, USDC, has received a formal attestation from an independent accountancy firm, Grant Thorton. It relates to the correlation between the numbers of tokens minted and the balance at the bank where the fiat currency backing them is stored. Grant Thornton confirmed that the balance of USDC in circulation did not exceed the dollars stored in the relevant account.
Japanese Largest Shipper to Launch Stablecoin to Pay Workers at Sea 🇯🇵
Nippon Yusen Kaisha (NYK), a shipping and logistics company based in Japan, has announced plans to introduce a digital currency as a means of providing service payments to members of its crew, according to a Bloomberg report. The company will float a stablecoin pegged to the dollar, although the details of how it would do so are sketchy at best, the company hopes to have it floated before the first quarter of 2019. The objective is for the company to process a patent for the technology before offering it to managers, owners and perhaps potential investors.
Binance Lists USDC 💸
Leading cryptocurrency firm Binance has become the latest exchange to list the USDC stablecoin. In a statement, the cryptocurrency exchange indicated that trading of the USDC and bitcoin (USDC/BTC) pair, as well as the Binance token and the USDC (USDC/BNB) pair, will commence on November 17 2018.
Cryptocurrency Would Fix Money Transfer Markets If More People Were Familiar With It 💱
Using cryptocurrency-based solutions for cross-border payments with a combination of stablecoins that could defray the volatility of cryptocurrency, billions of dollars would be saved. Families across the developing world would gain critical extra money, if only they were more familiar with cryptocurrency and were able to adapt it en masse. The good news is that the willingness seems to be there, even if all the tools and familiarity aren’t.
Stablecoin’s Past, Current and Future 🙇🏻
Not another redundant piece explaining stablecoins (which we don’t share in the news’ roundup), but a vertical exploration of its history, current state, and future possibilities. A good read.
-via Krypital Group
Bernie Madoff Move Over: ‘Stablecoins’ Have You Beat 😠
Jason Bloomberg writes a very critical rant of the ecosystem without any real depth, arguing that “…as with any Ponzi scheme, the value of your investment is stable until the bottom falls out, and it becomes worthless. Your money, meanwhile, is in the pockets of the scammers.” It briefly covers the general workings of each model before brushing them off as scams or useless.
Bitcoin-Rigging Criminal Probe Focused on Tie to Tether 👮🏻♂️
The U.S. Justice Department is investigating whether last year’s epic rally was fuelled in part by manipulation, with traders driving it up with Tether. While federal prosecutors opened a broad criminal probe into cryptocurrencies months ago, they’ve recently homed in on suspicions that a tangled web involving Bitcoin, Tether and crypto exchange Bitfinex might have been used to illegally move prices.
“There Is an Organized Campaign Against Us,” Says Tether 🤥
Media reports about Bahamas-based Deltec Bank accepting suspicious transactions is part of an “organized campaign” against their customer Tether, Leonardo Real, Chief Compliance Officer (CCO) at Tether, the most popular stablecoin, told Cryptonews.com, without specifying who’s behind this campaign.
SDS trading on Bibox ✌️
Alchemint’s project token is now available for trading on Bibox.
ARYZE partners with AmaZix to move stablecoins to mainstream 🤝
ARYZE which issues stablecoins backed by and pegged to traditional assets has announced its partnership with AmaZix, the community engagement platform. The collaboration aims to help improve and maintain ARYZE’s community channels, as it continues to make progress in the digital currencies market.
Smart Contracts Are Here to Stay 📋
Followed up by last week’s introduction post to the smart contract, BitBay updated a follow-up post to discuss two themes: (1) reasons of using the smart contract; (2) application of the smart contract.
Celo joins the World Food Programme Innovation Accelerator 🎉
Celo was chosen from a pool of 800 applicants to bring blockchain-based cash transfer solutions to fight world hunger.
Cred Weekly Report 11.12–11.16 🤓
Co-founders Dan Schatt and Lu Hua of Cred met with Fiona Ma, the Treasurer-Elect for the state of California, at the Blockchain Advocacy Coalition policy panel.
DGX Dev update 20 Nov 🗓
More than 1700 DGX have been sold on the Digix Marketplace, last week had one of the largest volumes seen in recent months. DGX presented on Singapore Fintech Festival. And more hires!
Security and Transparency in the GLX 🔏
Globcoin explained in its recent blog how the team handles transparency. In summary, it displays the transparency of its system through four aspects: i) Currency management, ii) Currency allocation, iii) Bank Accounts and iv) Audits.
Blockchain gold: Gold-backed digital currency announces $120bn addition 🥳
Global Gold Cash (GGC) announced that it has added gold reserves with total in-ground value of $120bn with the addition of a large gold mine in Africa.
-via Global Gold Cash
A Stablecoin Pegged to Social Media Advertising–Minds Gets Creative 🧐Minds has announced they have made recent changes to their smart contracts that will effectively peg the ERC20 MINDS token to its value on the site.
-via bits online
Multicurrency nomins are now live on Kovan Testnet! 🚩
Havven announced that its multicurrency nomins are now live on Kovan Testnet. Once the development team and auditing partners have fully tested the code, Havven will launch the first multicurrency decentralised stablecoin on the Ethereum blockchain.
Huobi wallet adds support for TRON [TRX] 📲
Huobi wallet has announced today that it will now support Tron [TRX], according to a tweet. The listing failed to drive a positive market sentiment for the cryptocurrency as the overall market is under a bear storm.
-via BC Focus
Agama Wallet Is Now Available On Mobile For Both Android & IOS 📱
Last week, Komodo made the announcement that ETH and over 150 ERC20 tokens are being integrated into Agama, Komodo’s native multi-coin wallet. Komodo announced that Agama is now available on both Android and iOS mobile operating systems.
Ripio Incorporates Dai 🇦🇷
Investors can buy and sell Dai in Argentinian pesos through Ripio. Sebastián Serrano, CEO and co-founder of Ripio, said the addition of Dai “is a big step towards our fundamental objective: to offer financial solutions for all segments of the population using technology as an innovation engine. Alternative investment practices, such as the possibility of buying this stablecoin with pesos, are key to achieving this. ”
MBAex partnership amplifies global access to Kinesis 🤝
MBAex has announced a Memorandum of Understanding (MOU) with Kinesis Money. The partnership is in line with MBAex’s vision to promote the use of blockchain assets that are safe and stable in value.
MenaPay Launches MenaCash Stablecoin Pegged To USD 💵
Presenting NokuBit — Bitcoin’s Financial sidechain 📖
In this updated post, Noku presents its stablecoin, NokuBit, in detail from the inspiration of its creation to the use cases.
Republia creates new partnerships in Asia 🌏
Republia received the significant contributions ranging from $200 k to $1mm— from ICU group.
Black Friday 5% Top-Up 🏆
SendGold launched a Black Friday Sale, offering buyers of its stablecoin, Gold Bullion, to top up their account with 5% more.
Unum deployed to Ropsten Testnet ⛏
Unum can now be bought and sold on the Ethereum Ropsten testnet.