Adoption grows as more than $7T settled with stablecoins in 2022

Adoption grows as more than $7T settled with stablecoins in 2022

Source: CryptoSlate The ongoing bear market did little to curb the rising use of stablecoins. On the contrary, dollar-pegged coins like USDT and USDC saw a parabolic growth in market cap this year, becoming a defacto settlement currency of the crypto industry. Following the collapse of Terra and its algorithmic stablecoin UST, the two stablecoin giants took over the majority of stablecoin […]

Indian central bank on track to launch retail CBDC pilot next month

Indian central bank on track to launch retail CBDC pilot next month

Source: CryptoSlate The Reserve Bank of India (RBI), the country’s central bank, is finalizing the rollout of the retail digital rupee pilot, the Economic Times of India (ETI) reported on Nov. 19. The RBI initiated the wholesale central bank digital currency (CBDC) pilot on Nov. 1 to test its usage in settling transactions in government securities. At the time, […]

FTX stablecoin reserves plunge as community fears bankrun

FTX stablecoin reserves plunge as community fears bankrun

Source: CryptoSlate The crypto community fears FTX might cause another Terra-like crash after the stablecoin reserves on the exchange fell significantly over the last 24 hours. FTX stablecoin outflow leads other exchanges As reported by The Data Nerd, Nansen data shows that FTX stablecoin outflow was the highest among exchanges over the last seven days. According to the screenshot, […]