Market Analysis: Silicon Valley Bank, Circle & USDC
Source: CryptoCompare Last week, the second largest collapse of a major U.S. bank occurred in history, as Silicon Valley Bank (SVB) was abruptly closed by U.S. regulators following a panic-induced bank run. SVB, which had strong ties to the venture capital industry and a reputation as a crypto-friendly bank, had been heavily utilised by many […]
How and why do stablecoins depeg?
Source: Cointelegraph Stablecoins are a type of cryptocurrency designed to have a stable value relative to a specific asset or a basket of assets, typically a fiat currency such as the U.S. dollar, euro or Japanese yen. Stablecoins are designed to offer a “stable” store of value and medium of exchange compared with more traditional cryptocurrencies […]
Digital Pound Foundation: Advocating for a Well-Designed Digital Pound
Written by Claire Conby, Operations and Governance Lead at the Digital Pound Foundation. Originally published in February 2023 by Central Bank Payments News With over 90% of the world’s major central banks pursuing central bank digital currency (CBDC) projects, there is an ever-increasing number of institutions and organisations across the globe expressing opinions, recommendations and […]
The future of machine money – opportunities for stablecoins in Europe
Source: Digital Euro Association Discover the potential of stablecoins in the European machine-to-machine (M2M) economy with our latest whitepaper, “The future of machine money – opportunities for stablecoins in Europe”. The paper examines the benefits and drawbacks of M2M payments, provides industry use cases that highlight the potential benefits of stablecoin-enabled IoT and M2M payments, […]
The Making of a Digital Pound: Exploring the Creation of a UK CBDC | Poundcast Episode 7
In episode 7, our host Jannah Patchay, Policy Lead at the Digital Pound Foundation is in conversation with Varun Paul, Central Bank Digital Currency and Market Infrastructure Director of Fireblocks. They discuss private sector objections to retail Central Bank Digital Currency – how does the recent Bank of England and HM Treasury consultation address these […]
Commercial stablecoin issuance – Part II: Risks and long-term vision
Source: Quant Banks around the world – including some well-known global brands – have begun issuing their own digital currency known as commercial stablecoins. In part II of our use case, we consider some of the risks involved and outline a longer-term vision. Understand the risksAs we outlined in part I, there are plenty of benefits […]
Why Does an Economist Care About CBDCs? | Poundcast Episode 6
In episode 6, our host Jannah Patchay, Policy Lead and one of the originating members of the Digital Pound Foundation, speaks to James Pomeroy, Global Economist at HSBC. In a time where many regions around the world are increasingly moving away from cash, Central Bank Digital Currencies can offer people similar levels of privacy and […]
BUSD Drama Sets Stage for Stablecoin Market Reshuffling
Source: Coindesk The uncertain future for embattled stablecoin Binance USD (BUSD) is stirring discord in the dollar-pegged crypto markets that one analyst says could accelerate into a dramatic reshuffling of the sector’s big winners and losers. With regulators this week forcing the issuer of BUSD to cease minting new tranches of the coin, Binance, the […]
UK economy has a needless £20 billion dependency on US stablecoins, research says
Source: City A.M. At a time when a struggling pound is contributing towards inflation that is harming everyday British consumers, an ‘unhealthy dependency on US stablecoins’ is hamstringing the UK economy, according to new research. A report by UK stablecoin issuer Poundtoken and crypto accounting firm Myna says 99% of the global stablecoin market-cap is unnecessarily tied to the […]
The digital pound is right on time to underpin the UK’s transition to a digital economy
Source: CityAM | Written by Jannah Patchay, Policy Lead at the Digital Pound Foundation The public debate around whether or not Britain should have a digital pound entered a new dimension this week. Statements were issued by both the Chancellor of the Exchequer, Jeremy Hunt, and the Governor of the Bank of England, Andrew Bailey, announcing the […]
