Stable.Report: Nov. 5 — Nov. 11
Stablecoin News of the Week:
Stablecoin Wars: Poloniex Eliminates USDC Trading Fees in Bid to Boost Volume 🤑
According to a report by CCN, Poloniex is reported to have started eliminating trading fees for USDC on their platform until the end of the month. While it sounds a bit unusual, it is actually not surprising since the exchange was acquired by Circle last February. Although it’s not the only choice of stablecoins for traders on Poloniex platform, with USDT has been listed since its inception, the new no-trading-fee rule might stimulate more transactions of USDC on the platform.
Cobinhood Adds Four New Stablecoins to its Exchange 👍
Cobinhood announced the addition of four USD stable coins to its exchange. The stable coins, which includes Paxos Standard Token (PAX), Gemini Dollar (GUSD), TrueUSD (TUSD), and MakerDao(DAI) was added on 9th November, 2018. These four stable coins are Ethereum ERC-20 tokens, which mean they can be used on various exchanges. Besides this, they can be stored as standard Ethereum hardware wallets. Cobinhood was launched in 2017 and in terms of volume, the 100 largest cryptocurrency exchange.
-via the oofy
New Zealand Set to Re-introduce Stable Coin NZDT 🇳🇿
New Zealand is preparing for the re-introduction of a cryptocurrency pegged to its national fiat currency, the New Zealand dollar. The digital currency is called the NZDT, (the New Zealand dollar Token) and is issued by the country’s leading digital asset exchange Cryptopia. The NZDT was initially launched last year but was stopped following regulatory concerns. However, Cryptopia is planning to reintroduce the financial product. The news was received with enthusiasm from the country’s cryptocurrency community.
Additional Bribery Case Found For Tether’s New Bank, Deltec 🙈
Over the past few months, cryptocurrency exchange Bitfinex has been having banking issues. Specifically, users have been doubting whether or not Bitfinex, who shares management with Tether, has the dollar reserves required to back their stablecoin (USDT). After these issues, it looks like Bitfinex is trying to fix their banking partners. After leaving Noble Bank of Puerto Rico, it was confirmed that Bitfinex found a new banking partner, Deltec Bank & Trust. However, all that glitters is not gold. Breaker Magazine recently reported that Deltec has been named in two global bribery cases. A previous Bahamian news report claims that Deltec is under investigation by the U.S. government for reportedly receiving $12M in bribes from a Venezuelan official.
Where Does Israel Stand With its Stablecoin Plans? 🇮🇱
In November 2017, the Bank of Israel put up a working group to identify the needs and possible launch of a government-backed digital coin, or a stablecoin. The group examined certain advantages and disadvantages of Israel issuing a stablecoin and concluded that the country should wait until more governments around the world introduce their own stablecoins.
PwC to Advise Loopring Foundation on Stablecoin Project 🤓
Taking forward its initiative with the not for profit organisation, Loopring Foundation, PwC’s Hong Kong arm is now exploring the best practises for the purpose of the issuance of stablecoins. This news was announced on November 6, 2018. This Asia-focused study comes after PwC’s partnership the United States which allows the firm to advise on Blockchain-based, decentralized lending platform called Cred. Cred is currently working on a US Dollar based stablecoin.
Russian Duma Weighs Up Creation of “CryptoRuble”Stable-Backed Stablecoin 🇷🇺
The Russian Duma is considering a new Ruble-based stablecoin. According to reports from Russian radio news station Govorit Moskva, the chairman of Russia’s State Duma Committee on Financial Markets announced that the Russian government will likely press forward with a national cryptocurrency. Anatoly Aksakov told a press conference that the Duma is working on a planfor a Russian cryptocurrency, “but it will be a ruble-pegged cryptocurrency.” Instead of creating a new currency that would compete directly with other cryptos, the ‘Crypto Ruble’ would be pegged at 1:1 to the fiat ruble.
Japanese Bank To Launch Yen-Pegged Stablecoin FBC 🇯🇵
The First Bank of Toyama is said to be experimenting with its own stablecoin backed on a 1-to-1 ratio with the Japanese Yen, though full details have yet to be released.
Alchemint Reveals Stablecoin User Manual 📑
This update includes a user manual describing Alchemint’s smart contract-based “Smart Asset Reserve” collateral and liquidation functions. Alchemint will be offering stablecoins backed by the real asset reserves of trusted institutions, as well as stablecoins backed by NEO reserves that remain locked in a smart contract as collateral.
Users Can Now Swap Carbon’s Stablecoin Between Ethereum And EOS 🔁
CarbonUSD, a dollar-pegged cryptocurrency token which was originally launched on EOS can now be swapped between EOS and Ethereum. The token is the first ever stablecoin that was launched on EOS. The announcement about the swap was made by Carbon yesterday. The coin’s developer, made the announcement in a press release adding that CarbonUSD’s interoperability across various blockchains is going to add value to the coin and the industry as a whole in the long run.
Celo Team Updates (October 2018) 🗓
Reviews a popular blog post, The Next Adjacent Possible, by Celo’s CTO Marek Olszewski, a video explainer on how Celo’s team works, brief technical updates, new hires and upcoming events.
Digix partners Trust Wallet to Launch Token Trackers 🤝
Trust Wallet has integrated both DGD and DGX into its ecosystem to allow for easy sending and/or receiving of either token, as well as providing a summarised overview of the performance tracking for each token.
Digix Dev Update 7 Nov 2018 🗓
Updates on new hires, audit status and upcoming events.
Winklevoss-Backed Gemini Dollar (GUSD) Supported On Liquid Exchange 👍
The cryptocurrency trading platform Liquid will be listing the Gemini Dollar (GUSD). The Liquid virtual asset market is owned by the Japanese company Quoine.
Jai Bifulco, CMO of Kinesis, Speaking About the Petro 📺
Jai gives an interesting insight from the crypto and commodities perspectives, concluding that, indeed, the Petro is not a good investment.
#Cryptolife Hackathon Winners 🎖
Announcing the five winners that exemplified creative approaches to integrating Maker. Each winner received 1000 Dai for their approach.
BSL2018 Colombia 🇨🇴
Blockchain Summit Latin America Colombia represents the second edition of an exciting event where MakerDAO was present and sponsoring a Hackathon Challenge. Many of the technologies presented and the talks given were focused around social impact and economic development of the region, something refreshing for local audiences to hear.
The Road to Mainnet Release 🙇
This blogpost gives the bigger picture of what Maker is working on to prepare the full Multi-Collateral Dai (MCD) release and clarifies the scope of what will be delivered.
Huobi Chiefs Meet Winklevoss Brothers to Formulate Global Crypto Expansion Strategies 🤝
It seems that the Huobi and Gemini cryptocurrency exchange platforms will continue working together for the foreseeable future. The primary agenda of the meeting was stablecoins and enhancing relations within the US and Chinese cryptocurrency industries.
Pundi X (NPXS) Jumps 17% on Indonesian Blockchain-Farming Gig📈
Pundi X (NPXS) increased 17% in value on Saturday following the addition of an NPXS/BTC trading pair on the Upbit exchange. The sudden turnaround for the ERC-20-based token also comes amid news that Pundi X payment facilities are being deployed in Indonesia farming communities, where they will be used to redeem cryptocurrency payments for agricultural data.
The Etch Journey — the Last Three Months 🙇
A very personal review of the Etch’s journey, taking a set of ideas and building a solid business model fit for a corporate implementation at some of the world’s finest companies.
Individual Member Portion of the Public Crowdsale Closing 🗓
The individual member portion of the Sweetbridge public crowdsale will be closing on November 15th.
Rationale for Including Multiple Fiat Currencies in Terra’s Peg 💱
The purpose of this analysis is to share Terra’s approach to creating a stablecoin for global adoption and their decision to peg the stablecoin to the International Monetary Fund’s Special Drawing Rights (SDR).
On the Regulation of Stablecoin Trust Companies 🕵
TrueUSD is subject to a great deal of regulation. They are happy to share how that regulation works for their users and community. Great piece by Alex C. Levine, Chief Regulatory Officer and Head of Legal for TrustToken.