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Explaining Working Mechanics of Algorithmic Stablecoins

Cryptocurrencies are notorious for their price fluctuations; they may swing by double figures. Stablecoins, on the other hand, attempt to get a haven for individuals who wish to avoid continual instability while remaining in the cryptocurrency world. Cryptocurrencies called stablecoins are designed to be tied to fiat currencies such as the US dollars. Stablecoins tied…

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Terra Purchases $200M Worth AVAX; NEAR Protocol Set to Launch Stablecoin

Thriving as the workforce behind the Terra blockchain ecosystem, the Luna Foundation Guard (LFG) and Terraform Labs (TFL) have jointly acquired $200M worth of AVAX tokens from the Avalanche Foundation. The LFG purchased $100 million worth of Avalanche’s native currency AVAX via its UST stablecoin in an OTC transaction with the firm. On the other…

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Terra’s Founder Intends to Get $10B in BTC for reserves

Terraform Labs (TFL) has expressed plans to earn a whopping $10 billion worth of Bitcoin (BTC) to count to the mission’s stablecoin reserves.   Who is Terra?   Terraform Labs is a crypto fintech firm that employs a decentralized price-stable cryptocurrency. The firm aims to fuel the next-generation payment network and extend the true GDP…

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Difference Between Stablecoin And Bitcoin

As the world is constantly evolving, more and more people are becoming more tech-savvy. The global rise of the fintech industry has also added to people’s curiosity to know more about the blockchain and cryptocurrency market. Meanwhile, Bitcoin has always been the leader of the market as many exchanges use it as a major source…

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PayPal sets up an advisory council to support its crypto and blockchain products

Where the global economic cluster is fast integrating cryptocurrencies in its core structure, payment giant PayPal has played a strategic card to explore the decentralized asset industry. Hailing from the United States, PayPal has announced plans to establish an advisory council of experts to diversify its efforts across the crypto and blockchain sector. Undoubtedly, PayPal…

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Bank of America believes CBDC and stablecoin adoption is unavoidable

With governments from across the world keenly working on developing a fully-dedicated digital economy, the United States is also not behind in this endeavor. The recent developments are signaling towards the launch of a native Central Bank Digital Currency (CBDC) project by the financial authorities in the country. The speculations were confirmed by the Bank…

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Hong Kong talks about establishing a stablecoin regulatory framework

With investors flocking towards cryptocurrencies sidelining the traditional investment options, the government authorities are compelled to chalk out a regulatory framework for the industry. The latest news in this regard is coming from Hong Kong where the country’s central bank, the Hong Kong Monetary Authority (HKMA) has presented a questionnaire for the public to share…

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Hong Kong Monetary Authority Reveals Regulatory Plans For Stablecoins

Considering the growing popularity and craze for stablecoins in the global finance space, Hong Kong’s central bank, the Hong Kong Monetary Authority has shared plans for regulating the industry. On Wednesday, the banking authority released a discussion paper concerning cryptocurrencies and stablecoins. The paper highlighted various crucial pointers on strategies to be adopted by the…

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PayPal Confirms To Explore Stablecoin

Working as one of the largest American Fintech firms, PayPal Holdings is all set to launch a powerful stablecoin project for the global community of investors. The highly-anticipated decentralized product will be introduced to the users as ‘PayPal Coin.’ Interestingly, the global payment facilitator’s exploration into creating a stablecoin was first disclosed by developer Steve…