STASIS Stablecoin Digest 22.05.2020
Main page Digest, Fintech, Startups, Stablecoins

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Regulation and monetary policy

Raiffeisen Bank International to Pilot Digitized National Currency

An Austrian banking group Raiffeisen Bank International A.G. (RBI) in cooperation with fintech firm Billon have successfully tested an end-to-end digitized national currency transfers PoC as part of the Elevator Lab acceleration program.

Gibraltar Succeeding in Crypto Regulation Where Others Fall Short

Gibraltar could be the next crypto hotspot, so what do companies based there think about the territory’s sector-leading regulations?

Brazil Regulator Votes to Continue Probe Into Banks’ Rejection of Crypto Firms

On Wednesday, Brazil’s antitrust watchdog, the Administrative Council for Economic Defense (CADE), voted to continue its investigation of banks who denied financial services to crypto brokers in alleged violation of Brazilian competition law.

Bank of France Successfully Completes Testing of Digital Euro

The Bank of France (La Banque de France), which is the central bank of France, has announced the successful testing of the digital euro working on the blockchain network.

Former Coinbase Lawyer Becomes Head of Major US Bank Regulator Next Week

Only seven weeks after leaving Coinbase’s legal team, Brian P. Brooks will be taking over at the U.S. Treasury Department’s banking-focused bureau.

Albania Approves Europe’s Most Comprehensive Crypto Law Yet

Albania passes new comprehensive law written by the Minister of Finance and Economy to regulate crypto activities.

Russia Considers Criminal Liability for Illegal Crypto Turnover

Russian authorities proposed introducing administrative and criminal liability for violations of the rules for working with digital financial assets and cryptocurrencies.

Myanmar's Central Bank Says Cryptos are Banned in the Country

The Central Bank of Myanmar (CBM) has shared a statement in which it says cryptocurrencies are illegal in the country, as it does not consider them as an official currency.

Global Central Banking Think Tank Launches Digital Monetary Institute

A global think tank for central banking, OMFIF, has announced the launch of its Digital Money Institute, aimed at bridging the gap between digital currency and traditional banking.

Analytics and opinions

Central Banks Uninterested in Digital Currency for Consumers, Says Visa Exec

Digital currency solutions that directly face consumers will not be taken seriously by central banks, according to a Visa executive.

Is Stablecoin the Next Big Thing in E-Commerce?

Digital currencies, such as Bitcoin, were the purview of speculators and coders, not stodgy central bankers. But this winter, the Federal Reserve announced that it’s investigating the possibility of issuing its own digital coin.

From Cash to Crypto: COVID-19 Is Changing the Way the World Sees Money

The COVID-19 pandemic is making cash-based societies all over the world sink into oblivion with the help of decentralized technologies.

Advances in Blockchain Drives Banks Toward Digital Currencies, Says Bank of Korea

Advances in payment settlements and decentralized ledger technology are driving central banks to consider digital currencies, according to a recent Bank of Korea report.

Do Crypto Stablecoins Threaten Financial Stability?

Authorities are rightly sounding the alarm over the risks to financial stability from certain stablecoins -- increasingly popular cryptocurrencies that are supposedly tied to fiat currencies such as the dollar and euro. The lack of transparency around many of these offerings is worrying because it is often unclear how such digital tokens are actually backed by fiat currencies or other assets.

Crypto Is the Revolution Leading Developing Countries to Financial Inclusion

World regions with fast-growing financial and economic potential, such as Africa, could become the predominant crypto adopters.

Many People Know About DeFi, But Few of Them Use It

DeFi projects seem to be well known in the cryptocurrency circles surveyed by CoinGecko, but usage is somewhat lackluster, especially for lending protocols.

New projects, partnerships, and investments

DeFi Lending Attracts VC Backing Despite Sharp Drop in Crypto Fundraising

Despite heavy losses in VC funding across the crypto sector at large, DeFi lending firms saw a more than 50% increase in fundraising during April.

Indodax Crypto Exchange Adds Support for EURS and REP

Indonesia’s leading cryptocurrency exchange Indodax has announced it added support for the STASIS EURO (EURS) stablecoin and Augur (REP) cryptocurrency.

German Bank Bitwala Offers BTC Deposits With 4.3% Interest

German online bank Bitwala has just added support for BTC deposits with an annual interest rate of up to 4.3%. According to the bank, interests are paid on a weekly basis.

Celo’s cLabs Launches Mainnet After Raising $40 Million

The Celo Mainnet is now live, enabling users to transfer Celo Gold tokens they received in the foundation’s recent $10 million auction.

Huobi Wallet Now Allows Crypto Credit Card Purchases Through Simplex

The wallet of cryptocurrency exchange Huobi now allows users to buy cryptocurrencies with credit and debit cards.

Shopify Integrates Support for Cryptocurrency Payments

Popular ecommerce platform Shopify has signed a partnership with CoinPayments, a cryptocurrency payments processor, which allows all Shopify's clients accepting cryptocurrency as a payment.

Stably Gets $1 Million to Bring Its New Stablecoin Coin to Market

Stable currencies are becoming all the rage in the cryptocurrency space, and Seattle-based startup Stably – which specializes in making stable coins mainstream – is moving ahead of the game with an additional $1 million in funding.

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