TrustToken Taps Chainlink for On-Chain Proof of Reserves for TrueUSD Stablecoin
The transparency measure is meant to provide additional certainty for decentralized finance (DeFi) traders who often rely on asset-backed stablecoins.
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The company claimed its PoR product can restore trust in crypto exchanges through greater transparency, but not everyone is convinced. Chainlink Labs offered its Proof of Reserve product as a solution to future trust issues in the crypto exchange market on Nov. 10. In a tweet thread, Chainlink Labs asked “Will crypto continue to repeat the mistakes of the traditional black-box financial industry? Or will a better system emerge?”#Crypto is at a crossroads. Will crypto continue to repeat the mistakes of the traditional black-box financial industry? Or will a better system emerge? A better....
The proof-of-reserves pilot would take information that appears on Celsius’ website and have it fed from a public Horizen sidechain instead.
As Signature Bank expands its commercial banking offerings, the trueusd stablecoin has been integrated with its Signet blockchain-based digital payment platform to deliver instant dollar payments. Signet Integration to Deliver 24/7 Dollar Payment and Settlement As more enterprises flirt with the idea of blockchain-based products and services, stablecoins are one of the areas of fascination for banks, especially given their possibilities in terms of speed and reliability. Yet, not all stablecoins are the same, and some have been targeted by enforcement agencies, among them tether (USDT).....
Symbiotic, Chainlink, and Lombard have unveiled their collaboration to launch the industry-first cryptoeconomic guarantee layer for secure cross-chain Bitcoin transfers. Related Reading: UK Crypto Groups Criticize Bank Of England’s Proposal To Cap Stablecoin Ownership – Report Symbiotic, Chainlink, And Lombard Team Up On Monday, staking protocol Symbiotic announced its partnership with decentralized oracle provider Chainlink […]
The senator said he had "significant concerns with the non-standardized terms applicable to redemption of particular stablecoins" in separate letters to eight crypto firms. Sherrod Brown, the chair of the Senate Committee on Banking, Housing and Urban Affairs, has called on several crypto firms to release information related to consumer and investor protection on stablecoins.According to a Nov. 23 announcement, Brown sent notices to Coinbase, Gemini, Paxos, TrustToken, Binance.US, Circle, Centre, and Tether requesting information on stablecoins by Dec. 3, suggesting that he and other....