Stablecoins Are Booming — And The Fed Thinks They Could Cut Rates
Federal Reserve Governor Stephen Miran said growing demand for dollar-pegged stablecoins could push down interest rates, putting a new factor on the Fed’s radar. Related Reading: US Gov’t Shutdown Deal Sparks Hope For Crypto Market Relief According to a speech he gave at the BCVC Summit on November 7, stablecoins that channel savings into dollar […]
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As demand has spiked all across the cryptocurrency board, especially stablecoins, leading spot and derivatives trading platform OKEx has announced support for two of the most market’s most popular stablecoins on the Algorand protocol. The move is in response to users searching for more options related to stablecoins and alternative protocols to avoid rising transaction fees. OKEx Introduces USDTa and USDCa, Coming In Days The Bitcoin market has been booming over the last twelve months, […]
Stablecoins are taking over the crypto space with increased utility and circulation. What is prompting this growth, and is it a threat to the market? Despite this year’s uncertainty that has plagued the global economy, 2020 will go down as the year of the stablecoins due to the digital sector’s tremendous growth, with new developments emerging across the board. While some attribute this growth to the booming interest in decentralized finance among crypto enthusiasts, others see it as a bullish trend that confirms the inflow of fiat currency to the crypto ecosystem.As the DeFi sector keeps....
As the debate over the trustworthiness of stablecoins intensifies due to Terra, one expert thinks builders should push for the coins to be decentralized with a clear use case. In light of recent market effects due to the collapse of the Terra USD (UST) stablecoin, several questions should be answered about what makes a stablecoin usable as the crypto market expands.Co-founder of crypto financial service provider VegaX Holdings Sang Lee favors decentralized stablecoins over their centralized counterparts but thinks they must be coins that people can trust, which poses a dilemma for the....
PLUS: The OCC's green light for banks to use stablecoins, Brazil's booming crypto sector and the bitcoin mining machine supply crunch.
Interest rates in lending out stablecoins remain higher than those offered in traditional finance markets in the US. This is why the decentralized finance market has seen so much success in the past year. Investment options that would normally be the go-to choice for investors in the country are returning less interest, so the move […]