STASIS Stablecoin Digest 30.01.2020
Main page Digest, Stablecoins

This article is brought to you by STASIS, a company that aims to promote transparency by providing daily statements from account providers along with weekly verifications and quarterly audits by a top 5 global accounting firm.

Regulation and monetary policy

Israeli Regulators Request Feedback to Foster Blockchain Innovation

The Israeli Securities Authority (ISA) has issued a Jan. 20 Request For Information to identify potential regulations that prevent the development of blockchain-based ventures in the country. In addition, the regulator seeks to find out the practical applications of Distributed Ledger Technology (DLT).

New Singapore Law Requires Crypto Companies to Register

The Monetary Authority of Singapore (MAS) has just announced that the Payment Services Act, the country's new legal framework to regulate cryptocurrencies and digital payments, has just come into force.

Swiss Ski Resort Starts Accepting Bitcoin Payments

The municipality of Zermatt, Switzerland has announced it will accept bitcoin (EXANTE: Bitcoin) as a payment method for local taxes.

SEC Deems Digital-Currency Investment Vehicle a Reporting Company

On January 21, 2020, Grayscale Bitcoin Trust (the “Trust”) became the first digital currency investment vehicle to attain the status of an SEC reporting company.


Tether Introduces Gold-Pegged Stablecoin

Popular stablecoins issuer Tether Inc has made another step towards global digitalization by introducing a new ERC20-based gold-pegged stablecoin called Tether Gold (XAU₮).

Analytics and opinions

Financial Institutions Use Stablecoins to Shake Things Up in 2020

For most people, the word “stablecoin” brings to mind cryptocurrencies like Tether or Libra. However, there are many versions of stablecoins — ranging from those that are backed by fiat money to those that are backed by real assets or even other digital currencies.

Japan Must be Ready to Issue CBDC, Says BOJ Exec

Japan's central bank the Bank of Japan (BOJ) must be ready to launch its own central bank digital currency (CBDC) amid possible rapid technical evolution.

Stablecoins Flip ETH Volume, DeFi the Primary Motor

Stablecoins on Ethereum had a cumulative transfer volume greater than its native ETH in 2019. This point indicates larger trends at play that could change the broader crypto landscape.

Stablecoins dominate the Ethereum blockchain

More value is being transferred via stablecoins over the Ethereum blockchain than with its own native cryptocurrency.

Bank of England’s Stablecoin Ruling Targets Financial Stability, Exec Says

Financial stability was a key factor in the Bank of England's decision to hold stablecoin payment systems to the same regulatory standards as existing payment chains.

Deutsche Bank: Cryptocurrencies Will not Replace Cash Soon

Deutsche Bank, Germany's largest bank, has said even though cash use is declining and digital currencies are gradually gaining adoption, it is unlikely that cash will disappear, at least in the short term.

New projects, partnerships, and investments

User Retention: The Holy Grail for DApps Moving Beyond Buzzword Status

Decentralized apps (DApp) continue to be a major focus point for developers in the crypto space. However, 2019 ended with DApps still far off from reaching their much-touted potential of being the “future of the internet.”

Major Swiss Banking Firm Julius Baer Launches Services for Cryptocurrencies

Major Swiss private banking and wealth management group Julius Baer has launched a digital assets trading and custodial service via a partnership with regulated crypto-specialist Seba.

Payments Startup Raises $80M From SBI Group, Visa Invest and Others

Cross-border payments platform Currencycloud has raised $80 million in funding from SBI Group, Visa and other investors.

Draft of India’s National DLT Strategy Calls for State-Run Digital Rupee

A draft of India’s national strategy on blockchain and distributed ledger technology suggests a central bank digital currency (CBDC), the digital Indian rupee, and a national blockchain.

Blockchain.​​​​​​​​com Is the Latest to Launch a Fiat Gateway for This Pro-Crypto Country

United Kingdom-based cryptocurrency data and wallet provider has launched a gateway for the Turkish lira on its crypto exchange.

Coinbase Expands its Custody Service to Ireland

Popular US crypto trading platform Coinbase has just announced it is expanding its custody service in Europe through a new unit in Ireland, the company has reported on its official blog.

Read also:
Please describe the error