STASIS Stablecoin Digest 14.06.2020
Main page Digest, Blockchain, Startups, Crypto Market, Stablecoins

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Regulation and monetary policy

Marshall Islands Seeks to Establish a 'Self-Sovereign Identity' With New Blockchain-Based Currency

Joel Telpner reveals some of the steps the Marshall Islands is taking to launch its national digital currency.

Ball’s in Their Court: Crypto Custodians Waiting on Regulators to Act

Crypto custody firms are mostly treated like traditional assets, ignoring the uniqueness of digital assets and its various complexities.

Ghana’s Central Bank Confirms It’s Still Looking to Pilot a Digital Currency

The Bank of Ghana’s first deputy governor says the institution remains committed to piloting a central bank digital currency.

4,000 Chinese Bank Accounts Reportedly Frozen Due to Crypto Connections

About 4,000 Chinese bank accounts of over-the-counter cryptocurrency traders were allegedly frozen by law enforcement.

South Korean Merchants Open to Accepting Digital Yuan

An article published by Yonhap suggests that South Korean merchants are open to accepting digital yuan as a payment method in the near future.

SEC Launches Virtual Meetups for Fintech Industry Players

The SEC's fintech wing invites innovators to network and weigh in on regulation in new online meetups.

Estonian Regulator Cracks Down on Crypto Companies

It is reported that Estonian regulatory authorities revoked licenses from 500 crypto-oriented companies. This is approximately 30% of the total number of approved firms.

Indian Government Proposes New Ban on Cryptos

According to the publication, the proposal, drafted by the Ministry of Finance, will first be sent to the Union Council of Ministers and later to the Parliament for final review.

Liechtenstein Bank Starts Processing USDC Payments

One of Europe's pioneers of the regulated blockchain banking sector Bank Frick has added support for USD Coin (USDC) payments, trades and custody service.

Analytics and opinions

Former Chinese Central Bank Exec Praises 'Commercial Success' of Bitcoin

Wu Xiaoling highlighted the benefits of the Bitcoin network and highlighted some of the weaknesses it faces nowadays.

Report: Less Than 6 Accounts Control 80% of Wealth on Top Stablecoins

A report by CoinMetrics has found at least 80% of the entire capitalization of five top stablecoin projects is held in less than six accounts on each respective network.

DeFi Tokens Capitalization Jumps by 100% in 2 Months

The total market cap of the DeFi (decentralized finance) sector has skyrocketed by 100% in just 2 months to over $2B, according to data provided by analysis resource DeFiMarketCap.

Why Tether has printed $5 billion USDT this year

Tether CTO Paolo Ardoino says over-the-counter trading desks and crypto exchanges want dollars on hand, and this is driving up demand.

New projects, partnerships, and investments

Fidelity: Over 30% of Institutional Investors Own Cryptocurrencies

Over 30% of institutional investors own cryptocurrencies such as bitcoin (EXANTE: Bitcoin), Bloomberg reports, citing a survey conducted by Fidelity Investments.

BitPay Reveals US Prepaid Mastercard

The global bitcoin payment service provider, BitPay, has announced the launch of a prepaid Mastercard card in the US.

Celsius Network Sells Two-Thirds of $15m Equity Offering on First Day

The popular DeFi app Celsius Network has publicly launched a $15 million equity offering, selling out over two-thirds of its target in less than six hours.

Turkish Stablecoin BiLira to Launch on AVA, an Open-Source Blockchain Platform for Creating DeFi Apps

The Turkish stablecoin BiLira will reportedly be launching on AVA, an open-source platform for building and deploying decentralized finance (DeFi) apps and enterprise-grade blockchain solutions that can be run in "one interoperable, highly scalable ecosystem."

VirgoX enters South American market by listing stablecoin BRZ

VirgoX announced the availability of BRZ, Brazilian Real-backed stablecoin and open trading for BRZ/USDT trading pair for trading on its digital asset trading platform. Deposits and withdrawals to be available simultaneously.

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