Circle, the company behind the USD Coin (USDC), has made a crypto donation to the inaugural funds of the President-Elect of the United States of America, Donald Trump. Jeremy Allaire of Circle, the CEO of Circle, stated that the company will be giving $1 Million USDC on X. The donation is a major achievement for digital assets, given the increasing adoption of stablecoins as a tool for real-world use.

Circle Donates $1M in USDC to Support Donald Trump’s Inauguration Fund

According to a recent post on X by Jeremy Allaire, Circle has made a crypto donation of $1 million in USDC to the inaugural fund of President-elect Donald Trump. The announcement highlights the Trump Committee’s willingness to accept stablecoins, reflecting the evolving use of digital dollars in political funding.

Circle CEO Jeremy Allaire emphasized the broader implications of the crypto donation. He noted that the donation underscores the increasing adoption of USDC in high-profile transactions. The contribution aligns with Circle’s mission of promoting digital currency as a viable tool for financial innovation in the United States.

This announcement comes a few weeks after the stablecoin issuer’s partnership with Binance to increase the usage of USDC. The partnership aims to bring USDC into Binance with the ability to trade, transact, and hold in its corporate treasury. This particular partnership will help in the provision of stablecoin and further development of the world’s financial systems.

Donald Trump Committee Embraces USDC

The Trump Committee’s acceptance of USDC demonstrates the growing relevance of digital dollars in various sectors. The $1 million crypto donation is part of a record $170 million raised by the committee for the upcoming inauguration. 

Circle CEO’s statement highlighted the crypto donation as a significant milestone for Circle and USDC. He remarked on the Committee’s willingness to accept USDC as a payment method, calling it an indicator of how far digital currencies have come in gaining acceptance.

Jeremy Allaire commented,

“We are excited to be building a great American company, and the fact that the Committee took payment in USDC is an indicator of how far we have come and the potential and power of digital dollars.”

Circle’s contribution underscores the stablecoin’s utility in large-scale financial transactions. Donald Trump’s campaign committee’s use of USDC sets a precedent for digital assets in political financing.

Circle continues to advocate for the use of USDC in diverse industries, from commerce to governmental initiatives. Late last year, the stablecoin issuer received approval from the OSC and CSA, making USDC the first to meet Canada’s VRCA regulations. This milestone ensures that USDC remains available on compliant Canadian platforms.

Will Trump’s Administration Create a US Bitcoin Reserve in 2025?

As Donald Trump’s inauguration nears, discussions around a US Bitcoin reserve have gained momentum. Industry leaders are urging the incoming administration to establish a federally-backed Bitcoin reserve to strengthen the nation’s financial infrastructure.

The Bitcoin Policy Institute has proposed allocating $21 billion to build the reserve. Analysts suggest that the initiative could define Trump’s administration as a champion of digital innovation. Whether the proposal advances remains to be seen, but it underscores the crypto industry’s high hopes for the upcoming presidency.

In addition, following Circle’s crypto donation, CNBC has reported that Google also contributed $1 million to Donald Trump’s inauguration fund. Google’s global head of government affairs, Karan Bhatia, confirmed the donation and announced plans to livestream the inauguration on YouTube. Other tech giants, including Meta, OpenAI, Amazon, and Apple, have also reportedly made contributions to the inaugural committee.

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Bitstamp has followed various other global exchanges in unveiling support for Ripple’s RLUSD – the enterprise-grade stablecoin supported on the Ethereum network. This addition is a part of Bitstamp’s plan to expand its services and address the needs of investors in search of a reliable digital asset for financial use.

RLUSD Stablecoin Goes Live on Bitstamp

In a recent blog post by Bitstamp, it announced that Ripple USD (RLUSD) is now tradable on the platform. The stablecoin is supported on the Ethereum network and can be traded against six major pairs: USD, EUR, BTC, ETH, XRP, and USDT.

Ripple USD (RLUSD) is a stablecoin backed 1:1 by US dollars and cash equivalents, ensuring consistent value and reliability. Its design aligns with stringent regulatory standards, including issuance under a New York Trust Charter. This backing ensures that RLUSD meets the demands of both individual and institutional users looking for secure financial tools.

This is coming over the recent news that Bitstamp is considering establishing a derivatives exchange on XRP Ledger due to low fees and high-speed transactions. Should this be the case, it will open up the ledger for more usage and potentially bring more usage for XRP in the crypto space.

Enterprise-Grade Features of Ripple RLUSD Stablecoin

Ripple designed RLUSD for enterprise-grade financial applications, tailoring it for payments, tokenization, and decentralized finance (DeFi). RLUSD provides a dependable option for businesses seeking blockchain-powered efficiencies by leveraging Ripple’s expertise in enterprise solutions.

Designed for institutional-grade applications, it offers stability and compliance, making it an ideal choice for payments and tokenization.

Additionally, the stablecoin availability on the Ethereum network enhances its usability within decentralized ecosystems. Developers and users can utilize RLUSD to explore opportunities in DeFi, ranging from liquidity pools to decentralized exchanges. This positioning makes RLUSD a key entry point for those looking to integrate blockchain into traditional financial systems.

Stablecoin Trust and Compliance Features

Moreover, one of the distinguishing features of Ripple RLUSD is its regulatory compliance. Issued under a New York Trust Charter, RLUSD adheres to high standards of transparency and accountability. This charter provides users with confidence in the coin’s stability and trustworthiness.

Bitstamp has highlighted that RLUSD global reach is boosted through partnerships, offering seamless on/off ramps between fiat, cryptocurrencies, and stablecoins. This functionality will facilitate cross-border transactions and streamline the adoption of digital assets.

Amid the growing Ripple ecosystem and its recent RLUSD stablecoin launch, Ripple CEO Brad Garlinghouse and Chief Legal Officer Stuart Alderoty met Donald Trump at Mar-a-Lago. The meeting marks a pivotal start to 2025 as Ripple continues to expand its offerings and strengthen its market presence.

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Stablecoin issuer Tether, has in conjunction with a popular crypto exchange platform revealed that it will be conducting a $1 billion USDT chain swap. The swap will shift the stablecoin from other blockchains to Tron network to improve the communication between the supported chains.

Details of the Tether USDT Chain Swap to Tron Network

On January 6, Tether revealed via its X account that it is coordinating with a top third-party exchange to move $1 billion worth of USDT. The swap will involve transferring a portion of the stablecoin held in cold wallets to the Tron blockchain.

Tether’s stablecoin, USDT, is currently available on multiple blockchains, including Ethereum, Solana, and Tron. The issuer clarified that the process will not alter the total USDT supply but will ensure that liquidity is optimized across various networks. This mechanism enables traders and users to leverage their assets on any blockchain supported by the crypto firm.

Meanwhile, the stablecoin issuer recently joined the bandwagon of firms increasing their Bitcoin reserves, adding 7,629 BTC worth $705.25 million. The funds, transferred from Bitfinex after nine months of dormancy, bring Tether’s total Bitcoin holdings to 82,983 BTC. Acquired for $2.99 billion, these holdings are now valued at $7.68 billion, reflecting its growing Bitcoin strategy.

USDT’s Dominance in the Stablecoin Market

Furthermore, USDT remains on top of the list in the stablecoin market cap with a value of more than $137 billion. Its main application areas are in payment systems, trading, and cross-border transactions. The stablecoin has recorded a 24-hour trading volume of $107 billion, a 69% jump in the last 24 hours.

On the other hand, the second popular stablecoin, the USDC, has a market cap of $45.8 billion and a daily trading volume of $7.7 billion. However, Tether’s stability pegged to the U.S. dollar has made it an essential tool for traders in the crypto market.

Nonetheless, despite the growing dominance, Bitcoin critic Peter Schiff has accused Tether of market manipulation following its recent 7,629 BTC purchase. Schiff claimed that the stablecoin issuer mints USDT “out of thin air” to acquire Bitcoin, likening it to quantitative easing. While Tether backs USDT with reserves and conducts audits, Schiff continues to question its practices.

Role of Chain Swaps in the Crypto Ecosystem

Chain swaps play a crucial role in the cryptocurrency ecosystem by enabling seamless asset transfers between blockchains. This allows users to access liquidity and trading opportunities across multiple blockchains, enhancing market efficiency.

The stablecoin issuer decision to facilitate a chain swap to Tron underscores its commitment to maintaining liquidity across supported networks. The Tron blockchain remains one of the primary platforms for USDT, driving substantial trading activity.

However, despite its dominance, the stablecoin issuer has not been without some challenges. The European Union’s Markets in Crypto-Assets (MiCA) regulation, proposed in December last year, has impacted the stablecoin market directly.

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Frax Finance has announced the launch of its new stablecoin, frxUSD, which will be backed by BlackRock’s BUIDL tokenized fund. This development marks a collaboration between traditional financial institutions and decentralized blockchain ecosystems, offering users a stable and yield-bearing digital asset option.

BlackRock BUIDL Fund Becomes Backing Asset for frxUSD

The Frax community has passed FIP-418, a governance proposal that enables BlackRock’s United States Dollar Institutional Digital Liquidity Fund (BUIDL) as collateral for the frxUSD stablecoin. The vote which took six days garnered full support from the Decentralized Autonomous Organization (DAO).

To this end, Frax Finance stated that BUIDL will function as the ‘custodian asset’ for the creation and creation of frxUSD. The Fund, however, invests in fairly liquid instruments including cash, U.S Treasury bills, and repurchase agreements. Frax founder Sam Kazemian said;

“frxUSD is a bridge between the blockchain world with its openness and programmability and BlackRock’s prime treasury products with their credibility.”

BlackRock’s BUIDL fund, which has as of now more than $648 million in AUM, expects to minimize counterparty risk while maximizing frxUSD holders’ yield opportunities. This decision is in line with the recent development in the stablecoin market that has seen the adoption of real-world asset (RWA) backing.

Features of the Frax Finance’s frxUSD Stablecoin

The newly launched frxUSD stablecoin is pegged to the U.S. dollar on a 1:1 ratio which forms a good condition for price stability for the users. Frax Finance has integrated with Paxos in order to allow the conversion of frxUSD directly into fiat currency.

Furthermore, the frxUSD holders shall receive distribution from the yield generated from the underlying assets within the tokenized fund. The initiative comes as part of the Frax Finance’s strategy to bring traditional finance products into the world of decentralized finance.

The company also unveiled its intention to apply for access to the US Federal Reserve Master Account that would make frxUSD useful in the regulated markets.

Growing Adoption of BUIDL-Backed Stablecoins

Frax’s frxUSD is the newest in a line of stablecoins whose value is anchored to BlackRock’s BUIDL token. Ethena Labs has introduced its own asset-backed stablecoin, USDtb, in December 2024 to be backed by BUIDL. The stablecoin has a market capitalization of $70 million and is intended to mitigate the volatility associated with synthetic dollar offerings in volatile market conditions.

Similarly, in the decentralized exchange, Curve Finance, users have been able to mint Elixir’s deUSD stablecoin using BUIDL as collateral. Such advancements suggest that more tokenized funds are being used, particularly for the collateral of stablecoins such as BUIDL.

On the same note, the introduction of frxUSD is timely given that the stablecoin market is in the process of transformation following shifts in the regulatory environment. The Markets in Crypto-Assets (MiCA) regulation of the European Union came into force in its entirety on December 30, 2024, and has set new standards for stablecoin issuers.

At the same time, BlackRock’s participation in the tokenized assets market proves that traditional financial institutions are gradually stepping in to connect Web3 and traditional finance. With $10.4 trillion in assets under management, BlackRock’s participation in the digital asset space inclusive of Bitcoin ETF record achievements  is viewed as a step toward broader institutional acceptance of blockchain-based financial products.

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Renowned economist and Bitcoin critic Peter Schiff has come for the USDT issuer Tether. He accused the crypto firm of manipulation following its recent 7,629 BTC purchase.

Peter Schiff Accuses Tether Of Manipulation

In reaction to Tether’s recent Bitcoin purchase, Peter Schiff accused the USDT issuer of “more manipulation.” He stated that the crypto firm simply creates USDT out of “thin air” and uses it to buy Bitcoin.

The renowned economist further described this USDT minting as Tether’s version of quantitative easing (QE). He added that this will not end well for Tether or Bitcoin.

USDT issuer Tether recently added 7,629 BTC to its reserve, which sparked Schiff’s remarks. The crypto firm now holds $7.68 billion worth of Bitcoin.

Meanwhile, Schiff’s accusation that USDT was created out of thin air is unfounded, as the stablecoin is backed by the USD and other Tether reserve assets. The firm also releases independent audit reports of its reserves.

However, Peter Schiff still seems to be convinced that there is some sort of manipulation involved in the USDT minting. In another X post, he stated that by definition, the USDT Tether uses to buy is not backed by anything other then the BTC it acquires as a result of the purchase.

It is worth mentioning that Schiff also criticized MicroStrategy’s $209 million Bitcoin purchase. He stated that the software company is no longer buying enough BTC to keep the price rising.

Adding To The Tether FUD

Peter Schiff’s remarks about Tether add to the FUD surrounding the stablecoin issuer. There have been many ill comments about the crypto firm’s imminent exit from the European Union (EU) region.

Amid this development, USDT’s market cap has slumped by $2 billion. Tether’s CEO, Pablo Ardoino, has addressed the FUD, stating that competitors are just trying to make market participants believe things that don’t exist.

In a recent X post, Arduino stated that the paid shill armies that have kept attacking Tether for years are the same that keep attacking Bitcoin to promote some alternative “useless tech.” He added that Bitcoin and Tether are standing in their way but stated that they are unstoppable together.

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Banks across the United States and Europe are ramping up efforts to issue stablecoins, fueled by evolving regulatory clarity and market demand.

The introduction of the EU’s Markets in Crypto-Assets Regulation (MiCA) and growing global interest in blockchain-based payment solutions have prompted traditional financial institutions to compete with established crypto firms like Tether Holdings.

European Banks Enter Stablecoin Market

A number of European banks have started to implement their own stablecoins to capture their share of a market that is said to earn billions of dollars in profit every year. The France-based Societe Generale – Forge (SG-Forge) has now opened its Euro-backed stablecoin for retail investors. In the same vein, the Frankfurt based Oddo BHF SCA and the London based Revolut are also looking to launch Euro stablecoins, while AllUnity, another issuer backed by Deutsche Bank’s asset management arm DWS, intends to launch its Euro stablecoin in 2025.

According to Jean-Marc Stenger, the CEO of SG-Forge, more banks will adopt bank-issued stablecoins; he simply said, “Yes”. SG-Forge is currently in discussions with about ten banks as potential partners or users of SG-Forge stablecoin issuing technology.

Similarly, Visa Inc., the global payments technology company, is also working with banks such as BBVA to create a stablecoin solution using blockchain. Cuy Sheffield, the head of crypto at Visa, stated that the company is currently in talks with institutions in Hong Kong, Singapore and Brazil.

US Banks Await Regulatory Green Light

In the United States, banks are keen on the legislation changes that can permit them to offer stablecoins. As the regulatory environment is being discussed, some banks such as JPMorgan Chase has already started testing payment systems that are based on blockchain. While JPMorgan has used its deposit token, JPM Coin in internal transfers, it does not possess the same open connectivity that is characteristic of stablecoins that can be accessed with any crypto wallet.

Naveen Mallela, co-head of JP Morgan’s digital assets division Kinexys, said that they are anticipated to gain more market acceptance in the next three years. He pointed out that stablecoins and tokenized deposits could both work side by side as different payment methods.

However, there are still certain issues that can be considered as problematic for US banks. There is ambiguity on which types of reserves are allowed to back stablecoins and if the deposits would be eligible for federal insurance. These problems should not be overlooked because, as the experts point out, they may lead to some confusion in periods of financial turmoil.

MiCA Brings Stablecoin Regulatory Clarity in Europe

The regulation of MiCA is a major milestone for stablecoin issuers in Europe as it will come into force on the 30th of December 2024. MiCA ensures that stablecoin providers have proper licenses to offer their services in the EU and also sets down some guidelines on reserve management and investor protection.

1/ MiCA is here! Starting Dec 30, 2024, the EU’s groundbreaking crypto regulation takes effect.

What does this mean for crypto providers, stablecoins like $USDT and $USDC, and investors?

Let’s break it down pic.twitter.com/dgMG5DVC0D

— Fefe Demeny (@FefeDemeny) December 28, 2024

Circle’s USDC stablecoin has already been approved under MiCA and can now be used more extensively across the region. However, Tether Holdings, the market leader, has not mentioned plans for obtaining a license for the Euro pegged stablecoin. Experts claim that this could open up possibilities for banks as well as rivals to step in the niche.

Meanwhile, the European Central Bank has expressed concerns about the potential impact of stablecoins on traditional banking. A recent ECB study found that converting retail deposits into stablecoins could weaken a bank’s liquidity coverage ratio.

Central Banks and Consortium Coins

While commercial banks move to issue stablecoins, central banks are actively developing central bank digital currencies (CBDCs). These government-backed digital currencies could eventually compete with or replace bank-issued stablecoins in wholesale payment systems.

Avtar Sehra, CEO of Libre Capital, noted, “Everyone is exploring some form of commercial bank digital currency. But many may prefer consortium coins.” Several banks are reportedly considering forming alliances to create shared blockchain-based tokens for broader interoperability and efficiency.

Concurrently, Ripple’s RLUSD stablecoin which debuted on December 16, 2024 quickly gained traction in the global crypto market. Moreover, the RLUSD was recently listed on Independent Reserve, a licensed crypto exchange in Singapore.

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Pro-XRP lawyer Bill Morgan reacts to mounting concerns over the U.S. Securities and Exchange Commission (SEC) or Chairman Gary Gensler spoiling the RLUSD stablecoin launch party. Notably, the US SEC recently labeled the stablecoin as an unregistered crypto asset in the Ripple lawsuit.

XRP Lawyer Addresses US SEC’s ‘Unregistered’ Claim on RLUSD

Pro-XRP lawyer Bill Morgan commented on an X post regarding RLUSD issuance once labeled as an ‘unregistered‘ crypto asset by the US SEC in its remedies-related reply brief. While the Ripple USD stablecoin received greenlight from the New York Department of Financial Services (NYDFS), some crypto investors are skeptical.

The post raised questions about whether the SEC or outgoing Chair Gary Gensler can cause problems for Ripple on RLUSD stablecoin. Interestingly, the SEC has remained silent on the approval from the NFDFS. In the Ripple vs SEC lawsuit, the agency mentioned RLUSD to claim that Ripple sold crypto assets without proper registration. This does not mean immediate actions but regulatory clarity is critical for broader adoption.

Morgan commented — “That is correct.” However, he added that the SEC made many incorrect statements about crypto and the regulator was wrong here too. Notably, this also includes the term ‘crypto asset securities’ for which the SEC expressed regrets to the court.

“Ripple does not care about the statement. If it was meant to be a warning or a threat it has been disregarded or worked around and quite frankly neither the market nor anybody else cares because RLUSD is now regulated,” he added.

Will the Stablecoin Benefit the XRP Price Rally?

Ripple President Monica Long earlier addressed concerns about RLUSD stablecoin impacting XRP. He clarified that the Ripple USD and XRP will serve different purposes within the ecosystem. XRP is used as a bridge asset for cross-border transactions.

Meanwhile, the RLUSD stablecoin is more about impact such as increasing liquidity, boosting utility, and expanding business. Its use cases include cross-border payments, decentralized finance, real world asset (RWA) tokenization, and crypto on-off ramps as it launches on XRP Ledger and Ethereum. It will be initially available in the Americas, Asia-Pacific, UK and Middle East regions via its distribution and exchange partners.

Moreover, the stablecoin launch fueled XRP price to surge 12% today and 22% in a week. The price currently trades at $2.62, with an intraday high of $2.72. It saw trading volumes of almost $19 billion, which is up 172% over the last 24 hours.

In the derivatives market, the total XRP futures open interest shoots to $4.50 billion. It skyrockets 19% in the last 24 hours, with Bybit and Binance leading the trades, as per Coinglass data.

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Ripple USD (RLUSD) stablecoin is now live on XRP Ledger and the Ethereum network. The crypto payments firm to boost the adoption of RLUSD with partner crypto exchanges after a successful launch. Meanwhile, trust lines for the stablecoins continue to rise, expanding the network.

Meanwhile, lawyer Bill Morgan addressed concerns as the US SEC once labeled RLUSD as ‘unregistered’ digital asset in the Ripple lawsuit.

Ripple Launches RLUSD Stablecoin Today

In a press release, Ripple announced that the Ripple USD (RLUSD) will launch on Tuesday, December 17. The stablecoin will be available on global exchanges such as Uphold, Bitso, MoonPay, Archax, and CoinMENA.

In the coming weeks, the stablecoin will be available on platforms such as Bullish, Bitstamp, Mercado Bitcoin, Independent Reserve, and Zero Hash. The crypto firm mentioned that it is fully backed by US dollar deposits, US government bonds, and cash equivalents to ensure stability, reliability, and liquidity.

For Transparency purposes, the company announced that it would publish monthly third-party attestations of Ripple USD’s reserve assets carried out by an independent auditing firm. However, amid this launch announcement, CTO David Schwartz raised the possibility of the stablecoin’s not being pegged to the dollar due to supply shortage.

Commenting on the RLUSD launch, CEO Brad Garlinghouse said,

“Early on, Ripple made a deliberate choice to launch our stablecoin under the NYDFS limited purpose trust company charter, widely regarded as the premier regulatory standard worldwide. As the US moves toward clearer regulations, we expect to see greater adoption of stablecoins like RLUSD, which offer real utility and are backed by years of trust and expertise in the industry.”

Stablecoin Launch Will Benefit XRP

The crypto firm announced that key RLUSD partners include leading global exchanges, market makers, and payment providers. This will drive adoption and usage across the Americas, Asia-Pacific, UK, and Middle East regions.

Furthermore, the company announced that starting early next year, it would use RLUSD to facilitate global payments for its enterprise customers. The stablecoin will be available on the XRP Ledger (XRPL) and Ethereum blockchains as the firm looks to expand its use case cases.

To ensure that the stablecoin leads the way, Ripple will add Raghuram Rajan, former Governor of the Reserve Bank of India, and Kenneth Montgomery, former First Vice President and Chief Operating Officer of the Federal Reserve Bank of Boston, to the RLUSD advisory board. They will join existing board members to provide “strategic guidance on regulatory, financial, and operational aspects to support stablecoin’s stability and growth.”

Notably, the trust lines for the stablecoin going live every second and expanding the network. This signals the ecosystem will see massive adoption and demand.

Meanwhile, it is worth noting that the RLUSD launch could provide some bullish momentum for the XRP price. Specifically, the stablecoin will inject more liquidity into the XRP ecosystem, which could spark a price rally.

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Ripple newly introduced stablecoin, RLUSD, has generated attention with its unusual pricing, exceeding $1,200 per unit in pre-launch transactions. Ripple CTO David Schwartz has clarified that these fluctuations are attributed to limited supply and heightened demand during the early phase of the stablecoin’s release.

David Schwartz Explains $1,200 Ripple RLUSD Price Spike

Ripple’s USD-pegged stablecoin, RLUSD, recorded an unexpected valuation of $1,200 on decentralized exchanges (DEX) before its official launch. This has been linked to supply shortages and heightened demand for the token during its pre-release phase.

David Schwartz, Ripple’s CTO, explained that the inflated valuation stems from market tools that reflect the highest price bidders are willing to pay. He emphasized that the pricing is not the actual value of RLUSD but rather a result of limited availability. 

Schwartz assured investors that once the stablecoin reaches sufficient circulation, its price would stabilize near the $1 benchmark.

Additionally, last week, the New York Department of Financial Services (NYDFS) granted regulatory clearance for Ripple’s RLUSD, positioning it for entry into the stablecoin market. This approval was a critical step for Ripple, as the company expands its portfolio with a regulated USD-pegged asset.

Testing for RLUSD has been underway since August, with developers and institutional partners refining its functionality to ensure parity with the U.S. dollar. The stablecoin’s official launch will boost its role in cross-border payments and liquidity solutions.

Early Transactions Indicate Demand Despite Price Instability

In the days leading up to its launch, RLUSD saw limited minting, with speculative traders engaging in high-priced transactions on platforms like the Xaman XRP wallet. Reports indicate that one such transaction priced a fraction of RLUSD at 511 XRP, equivalent to over $1,200.

Schwartz noted that some users may be paying inflated amounts for the perceived novelty of holding the first batch of Ripple RLUSD. He reiterated that these prices will revert to $1 once supply meets demand.

The Ripple CTO emphasized, 

“The whole point of a stablecoin is to have a stable price. Short-term changes in prices due to shortages of supply or demand are certainly possible, especially around launch, but they shouldn’t remain for very long as arbitragers rapidly fix the market. Please don’t FOMO into a stablecoin! This is not an opportunity to get rich.”

The stablecoin will complement XRP’s utility, leveraging its established exchange presence to ensure liquidity and minimize the risk of depegging. More so, reports indicate that the XRP company minted 13.9 million RLUSD tokens across the XRP Ledger and Ethereum Network. The minting includes 2.6 million RLUSD on the XRP Ledger and 11 million RLUSD on Ethereum.

Following the imminent launch of Ripple RLUSD stablecoin, XRP has seen notable price activity, currently trading at $2.37. Over the past month, XRP price surged by 111%, driven by investor anticipation and growing market confidence.

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Ripple Labs, an American blockchain payments firm, has minted over 13 million RLUSD stablecoins across multiple blockchain networks. This activity is part of Ripple’s intensified testing phase for its stablecoin, which is set to launch soon following approval from the New York Department of Financial Services (NYDFS).

Ripple Mints Over 13M RLUSD Amid Imminent Launch

Data from Ripple’s Stablecoin Tracker reveals the minting of 13.9 million RLUSD tokens across the XRP Ledger and Ethereum Network.

On the XRP Ledger, Ripple minted 2.6 million RLUSD, followed by three additional mints of 100,000, 160,000, and 640,000 RLUSD tokens. Concurrently, the Ethereum Network recorded mints of 10.4 million and 640,000 RLUSD tokens.

The stablecoin, which is fully backed by onshore U.S. assets, has been undergoing rigorous tests involving minting and transfers across these networks. Ripple confirmed that these tests are aimed at ensuring the stablecoin’s functionality before its official debut.

Moreover, CEO Brad Garlinghouse commented on X (formerly Twitter), saying, “When RLUSD is live, you’ll hear it from Ripple first.”

Regulatory Approval Sets RLUSD Apart from Competitors

Ripple has secured NYDFS approval, making RLUSD one of the few U.S.-regulated stablecoins. Unlike competitors like USDT and USDC, RLUSD meets strict requirements under U.S. financial regulations, including the Dodd-Frank Act and Basel III standards.

The stablecoin is fully collateralized by U.S. Treasuries and held in regulated custody, ensuring compliance with Federal Reserve and FDIC guidelines.

US banks can hold #RLUSD on the XRPL/ETH ledger, and why USDC and USDT cannot.

Here's an explanation of why RLUSD is so special and why it took years to get approved… READ ON

Regulations Summary:

U.S. GAAP/IFRS: Assets must have clear value, reliable measurement, and meet…

— Vincent Van Code (@vincent_vancode) December 11, 2024

This regulatory approval positions RLUSD as a reliable asset for financial institutions. According to Ripple, its transparent operations, including real-time audits, differentiate it from other stablecoins. USDT, for example, has faced scrutiny for inconsistent audits, while USDC operates partially offshore, making compliance with certain U.S. standards challenging.

Analysts Assess XRP Price Movement Amid RLUSD Developments

The approval and testing of RLUSD have coincided with a notable increase in XRP’s market value. XRP has risen from $1.90 to $2.35, with some analysts describing this as a “speculative pump.” Software engineer Vincent Van Code stated that XRP’s price could see further gains if RLUSD enters decentralized finance (DeFi) ecosystems.

Van Code emphasized that liquidity pool (LP) and automated market maker (AMM) features for RLUSD on the XRP Ledger could drive demand. He suggested that users earning returns through LPs might contribute to increased XRP adoption. Additionally, the ability to swap RLUSD with other stablecoins or use it for on-chain staking could further integrate RLUSD into DeFi activities.

Amid RLUSD-related developments, significant XRP transactions have been observed. Over 39.43 million XRP, valued at $95.5 million, was moved from an unknown wallet to Coinbase. Separately, a whale transferred approximately 99.99 million XRP worth $234.4 million between unknown wallets.

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The stablecoin market has achieved a major milestone, with its total market capitalization surpassing $200 billion for the first time. This rapid growth reflects the rising adoption of stablecoins across diverse sectors. Data from CCData and DefiLlama shows the market added $10 billion in just two weeks, exceeding the $190 billion peak reached during the 2022 crypto rally.

Stablecoin Market Surpasses $200B, Poised to Double to $400B in 2025, Experts Say

According to DefiLlama, the stablecoin market cap has surpassed $200 billion, driven by the ongoing crypto rally and increasing use cases beyond digital currencies. The growth of stablecoins has been fueled by a rise in crypto trading and the increasing adoption of non-crypto applications such as payments, remittances, and savings. This shift is particularly noticeable in regions with fragile financial systems and high inflation.

Tether’s USDT has seen its market value soar to a record $139 billion. This represents a 12% increase in just one month, according to data from DefiLlama. Moreover, over 109 million on-chain wallets are holding USDT by Q4 2024, making it one of the most widely held digital assets.

USDC, the second-largest stablecoin issued by Circle, has also grown, reaching nearly $41 billion in market value, up by 5% in the same period.

Key Factors Driving Growth

Several factors are contributing to the rapid expansion of the stablecoin market. One of the main drivers is the increasing integration in everyday financial systems, including remittances and peer-to-peer payment platforms. Stablecoins offer an alternative means of transferring value, especially in countries with depreciating local currencies.

In addition, stablecoins are gaining traction as a yield-generating investment vehicle. New products like Ethena’s USDe token, which uses a strategy of shorting Bitcoin and Ether, have been increasingly popular.

Meanwhile, Tether’s USDT stablecoin has been recognized as an Accepted Virtual Asset by Abu Dhabi Global Market’s Financial Services Regulatory Authority. This milestone allows licensed entities to offer USDT-related services, supporting the UAE’s vision to become a global digital finance hub.

Future Outlook: Market Could Reach $400B by 2025

Additionally, experts predict that the stablecoin market could grow even further, potentially reaching $400 billion by 2025. A report from asset manager Bitwise suggests that U.S. legislation could be a major catalyst for this growth.

If the U.S. Congress passes clear regulatory frameworks, it would encourage more businesses and consumers to adopt them. This regulatory clarity will enable traditional financial institutions, like banks, to enter the cryptocurrency market.

Meanwhile, Goldman Sachs CEO David Solomon recently signaled the firm’s potential cryptocurrency expansion, dependent on regulatory shifts. The bank has built a digital asset infrastructure but remains constrained by legal limitations. Solomon indicated readiness to engage with Bitcoin and Ethereum if the regulatory environment is favorable.

In addition, fintech companies are increasingly integrating stablecoins into their services, following the example set by PayPal with its PYUSD token. The use case expansion of global payments will continue, as it offers a stable alternative to volatile cryptos and traditional financial services.

More so, reports from Standard Chartered and Zodia Markets suggest that stablecoins could eventually make up 10% of the U.S. money supply and foreign exchange transactions. This represents a substantial increase from the current 1% share.

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Tether’s USDT stablecoin has officially been recognized as an Accepted Virtual Asset (AVA) by the Financial Services Regulatory Authority (FSRA) in the Abu Dhabi Global Market (ADGM). This decision allows licensed entities operating within the ADGM to offer services related to Tether USDT. The milestone positions the stablecoin for broader integration into the UAE’s growing digital finance ecosystem.

Tether’s USDT Approved as Accepted Virtual Asset in Abu Dhabi Global Market

According to a recent blog post, the ADGM has officially granted Tether USDT the status of an Accepted Virtual Asset. This approval marks an important step for stablecoin in its adoption across regulated financial markets. With Tether USDT boasting a market capitalization exceeding $138 billion, this recognition solidifies its position as a key player in the digital asset market.

Licensed financial service providers within ADGM are now authorized to offer services related to Tether USDT, which include trading, storage, and other financial services. The approval is a move to foster the growth of digital assets in the UAE. 

Following the development, Paolo Ardoino, Tether CEO commented,

“The UAE’s forward-thinking approach to virtual asset regulation sets a global benchmark, and we are proud that USDT can play a pivotal role in driving economic progress and digital transformation in the region. This approval highlights Tether’s dedication to building bridges between traditional and decentralized economies while ensuring security, trust, and efficiency for users worldwide.”

Integration Into The UAE Financial Ecosystem

The recognition of Tether USDT aligns with the UAE’s broader strategy to become a leading global hub for digital finance. The UAE has made substantial investments in blockchain technology and virtual asset regulation. Just last month, Ripple revealed its interest in launching a Dirham-backed stablecoin in the UAE, aligning with the country’s progressive digital asset regulations.

The inclusion of Tether USDT in the ADGM framework offers increased opportunities for financial service providers in the UAE to integrate stablecoins into their operations. Stablecoins provide a bridge between traditional financial systems and the emerging digital economy. This is key for the region’s future growth in digital assets.

Moreover, as of Q4 2024, USDT has achieved a notable milestone with over 109 million on-chain wallets holding the stablecoin. This level of adoption underscores the growing demand for stablecoins across global markets. Also, the number of wallets holding more than one cent of USDT has increased by 71% over the past year.

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Tether reports that, as of the fourth quarter of 2024, more than 109 million on-chain wallets are holding USDT. This marks a notable milestone in the adoption of Tether’s stablecoin, placing it among the most widely held digital assets globally. This figure represents a significant increase in both individual and institutional adoption, with USDT continuing to play a pivotal role in the crypto ecosystem. The growth of Tether aligns with the increasing demand for stablecoins, driven by their utility in providing a reliable store of value.

Tether USDT Sees Record Growth: 109 Million Wallets and 71% Increase in 2024

According to a recent report by Tether, the number of on-chain wallets holding USDT reached 109 million by the start of Q4 2024, a major leap from previous years. This is more than double the number of wallets holding Bitcoin and almost as many as those holding Ethereum. As a result, USDT has become one of the most popular digital assets.

The growth and adoption has been particularly notable, with the number of wallets holding more than one cent of USDT increasing by 71% in just one year.

The surge in USDT adoption is due to its increasing use, including cross-border payments, savings, and trading. Tether’s presence across multiple blockchain platforms also plays a key role in its widespread usage. 

More so, over 54 million wallets held more than a cent of USDT, reinforcing its position as the leading stablecoin. The number of wallets holding USDT has grown four times faster than all other stablecoins combined.

More so, the US Treasury highlighted the rapid growth of stablecoins in its recent report, noting their increasing role in the digital asset market. The report highlighted that a significant portion of fiat-backed stablecoins’ collateral is invested in Treasury bills and treasury-backed repo transactions. It estimated that around $120 billion in stablecoin collateral is currently tied to U.S. Treasuries.

Growing Adoption Across Emerging Markets

One of the key drivers behind Tether’s adoption is its widespread use in emerging markets, where many users rely on stablecoins for financial inclusion. The report shows that nearly 46% of all web visits to centralized exchanges in the first three quarters of 2024 originated from emerging markets. This highlights the growing role of these regions in the global digital asset ecosystem.

In these regions, USDT is often used for remittances, online payments, and as a hedge against local currency volatility. The stablecoin issuer’s ability to provide a low-cost alternative to traditional financial services has made it attractive to users.

The large number of USDT wallets with low balances is another indicator of the stablecoin’s widespread accessibility. In many cases, wallets holding less than $1 of USDT belong to users in developing regions. These small balances are often used for everyday transactions.

As of November 2024, the number of USDT wallets exceeds that of all other stablecoins combined.  The stablecoin issuer also holds 97.5% of the total stablecoin supply across 25 blockchains.

Despite the popularity of competing stablecoins such as USDC and DAI, Tether continues to maintain its lead. Most recently, the stablecoin issuer’s investment division facilitated its first $45 million crude oil transaction in the Middle East, marking a significant expansion into global trade finance. The deal, involving 670,000 barrels of crude oil, used USDT to streamline payments and enhance trade flow efficiency.

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USDC issuer Circle has become the first stablecoin issuer to meet Canada’s new regulatory requirements for stablecoins. On December 4, 2024, Circle announced that it had received approval from the Ontario Securities Commission (OSC) and the Canadian Securities Administrators (CSA).

This approval allows Circle’s U.S. dollar-backed stablecoin, USDC, to remain available on registered Canadian crypto platforms that comply with the newly introduced Value-Referenced Crypto Asset (VRCA) guidelines.

Circle Meets Canadian Stablecoin Regulation Standards

Circle’s USDC is the first stablecoin to fully meet the new VRCA regulations of the CSA. This compliance will allow USDC to be offered on Canadian platforms that satisfy the new standards.

With the Canadian government seeking better definition of the laws regarding digital assets, Circle’s actions demonstrate its willingness to follow these guidelines. The approval lets USDC continue to be an active participant in the Canadian crypto market and promote trust and transparency within the market.

”The launch of USDC in Canada is a testament to Circle’s adherence to the emerging global regulatory framework and is another significant development towards the enhancement of transparency and accountability of the digital financial system,” said Dante Disparte, Chief Strategy Officer at the stablecoin issuer.

He insisted that Circle is a company that aims at upholding high standards of regulation even as it expands its operations across the globe.

USDC’s Ongoing Presence in the Canadian Market

Due to this approval, the Canadian crypto exchange platforms that are in compliance with the VRCA rules may still provide USDC after the enactment of the regulation for non-compliant stablecoins by December 31, 2024.

The stablecoin issuer’s focus on compliance strengthens USDCs position as a compliant fiat backed stablecoin in the Canadian market. The fact that the company is able to work within the complex regulatory frameworks means that Canadian users can trust USDC for their transactions.

Circle CEO Jeremy Allaire also shared his thoughts on the accomplishment saying that the company’s compliance with Canadian regulations makes USDC the most regulated stablecoin in Canada.

”We are still in discussions with the Canadian authorities to pursue a regulated market for the global stablecoins which can be useful in improving the efficiency of cross border transfers,” said Allaire.

Circle’s Global Expansion and Regulatory Engagement

Apart from Canada, the stablecoin issuer has objserved growth in several other markets across the globe. The company is compliant with the US Bank Secrecy Act and is also licensed as a money transmitter in many states of the US.

In July 2024, Circle’s French subsidiary became the world’s first stablecoin issuer to be compliant with the European Union’s Markets in Crypto-Assets (MiCA). Furthermore, the Company’s Singaporean subsidiary obtained Major Payment Institution License from the Monetary Authority of Singapore in 2023.

At the same time, Robinhood Crypto EU integrated Circle’s USDC into the offering, thus providing its European customers with an opportunity to engage with the regulated stablecoin. Thus, the integration opens up trading and holding of USDC for 24 million registered Robinhood users across Europe.

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Ripple labs is preparing to launch its regulated stablecoin, RLUSD, following indications that New York’s top financial regulator, the Department of Financial Services (NYDFS), is poised to approve the product. If approved, Ripple will be able to issue its stablecoin under a limited-purpose trust charter. This will position the company as a key player in the regulated U.S. digital finance market. The potential launch date is set for December 4, 2024, pending final regulatory approval.

Ripple Labs Set to Launch RLUSD Stablecoin as New York Approval Nears

According to a recent Fox Business report, Ripple labs is on the verge of receiving approval from New York’s Department of Financial Services (NYDFS) to launch its stablecoin, RLUSD. This approval is crucial for Ripple as it seeks to enter the regulated U.S. market for stablecoins. The NYDFS is known for its stringent regulatory standards, ensuring that companies meet high levels of transparency before offering digital assets.

Once approved, Ripple will be able to issue RLUSD under a limited-purpose trust charter, a common regulatory pathway for digital asset firms in New York. This regulatory approach allows Ripple to offer stablecoins without the more complex regulatory requirements faced by traditional banks. 

If all goes as planned, Ripple could launch RLUSD as soon as December 4, 2024. This is a significant step for the company in its pursuit of expanding its offerings in the U.S. digital finance sector.

According to a recent report, Ripple Labs is expanding its partnership with Mercy Corps through the “Unlocking Opportunities” program. The initiative will drive the adoption of RLUSD, promoting financial inclusion in cases such as savings, and micropayments. 

Ripple’s RLUSD Stablecoin Aims to Offer Stability

More so, Ripple’s stablecoin will provide a stable alternative to XRP, which has been prone to volatility. By being pegged to a stable asset, RLUSD will attract customers seeking a more predictable and reliable digital currency.

Stablecoins are typically pegged to assets with stable valuations, such as the U.S. dollar. They also serve as a store of value and help facilitate faster, more cost-effective transactions. Ripple’s move into the stablecoin market places it in direct competition with other established U.S. issuers like Circle, Paxos, and Gemini.

Additionally, for the rollout of RLUSD, Ripple labs will collaborate with several well-known payment providers, including Bitstamp, Moonpay, and Uphold. These partnerships will help Ripple expand RLUSD’s reach, offering users more access to payments and remittances.

Keith Grossman, president of Enterprise at MoonPay, stated that the launch is a positive development for the stablecoin market. Grossman emphasized,

“For another well-capitalized, highly regulated player to enter into the global stablecoin marketplace – especially as MiCA regulation in Europe is about to be implemented – is a win-win and MoonPay is proud to provide access to RLUSD for our partners and customers on day one of Ripple’s launch.”

Meanwhile, XRP whales have moved over 139 million coins, sparking speculation as the Ripple Labs vs. SEC lawsuit nears a potential resolution. These large transactions come amid growing optimism that the legal case could favor Ripple, with XRP price rising.

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Robinhood Crypto EU has enhanced its platform by adding Circle’s USDC stablecoin for European users. This integration offers access to a regulated, dollar-backed digital asset, further diversifying Robinhood’s crypto offerings.

Robinhood Introduces USDC Stablecoin To European Users

According to a recent post on X, Robinhood Crypto EU has incorporated Circle’s USDC into its platform, enabling 24 million registered accounts to access the dollar-backed digital asset. This addition aligns with the trading platform’s strategy of offering users compliant options in the cryptocurrency space.

Circle’s CEO, Jeremy Allaire, acknowledged USDC coming on Robinhood stating that the platform could further boost the use of stablecoins in Europe. Beside USDC, Allaire emphasized on EURC, the euro stablecoin of Circle, as both assets operate within the framework of European regulations.

Circle’s CEO added, 

“EURC is the largest Euro Stable, has grown fast this year, is taking advantage of clear and fair regulations in Europe (alongside USDC!) and is growing TX volume, onchain FX use, and more and more exchanges and wallets launching support.”

Crypto Services Across European Markets

Robinhood continues to broaden its cryptocurrency portfolio, offering support for over 30 digital assets. The platform provides the lowest-cost trading across European markets, further cementing its position as a leading crypto platform. The inclusion of USDC in its offerings demonstrates dedication to providing investors with a diverse range of options.

Recently, the trading platform added Dogwifhat (WIF), a Solana-based meme coin, to its list of supported cryptocurrencies. The listing triggered a surge in WIF price and trading volume, highlighting its influence on market trends within the crypto sector.

In parallel developments, Circle launched USDC stablecoin and Cross-Chain Transfer Protocol (CCTP) on the Aptos blockchain. This integration enables the native issuance of USDC on Aptos, improving its functionality within the network. It also enhances cross-chain interoperability and reduces dependence on bridged versions of the stablecoin.

The CCTP rollout facilitates seamless transfers between Aptos and other blockchains, such as Ethereum, Solana, and Base. The move complements Circle’s USDC strategy, further expanding its usability in decentralized finance.

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Tether, the biggest stablecoin provider, has declared that it will no longer provide support for its euro-backed stablecoin, EURT. The company, however, noted that it had stopped minting EURT in 2022 and that holders of the token should redeem it by November 27, 2025. This move is consistent with the company’s decision to review its products based on the regulatory requirement.

Tether To End Support For EURT Stablecoin

In a recent blog post, Tether announced that the EURT Stablecoin will no longer be supported, with a redemption option available until November 27, 2025. The company stressed that there will be no new issuance requests for EURT since the minting of the same ceased in 2022.

The move is part of Tether’s strategic shift to focus on projects that are more relevant to changing regulatory environments.

Several crypto exchanges are delisting EURT and Tether’s USDT stablecoin to comply with the EU’s MiCA regulations. Bitstamp, one of the first to list EURT, removed it by June 2024. OKX has also delisted EURT pairs, while Uphold dropped USDT and six other stablecoins for European users. Similarly, Coinbase is set to delist non-MiCA-compliant stablecoins in the EU by December 2024.

According to the stablecoin issuer, holders should redeem their tokens on supported blockchains before the deadline.

Focus On MiCA-Compliant Stablecoins EURQ and USDQ

Tether is shifting its focus to expanding stablecoin products that comply with MiCA regulatory standards. This change also entails the launching of EURQ and USDQ, which are MiCA-compliant tokens. The tokens will offer convenient, dependable, and secure transactions in the European zone.

More so, the new tokens will be launched in partnership with Quantoz Payments, a fintech firm based in the Netherlands. EURQ and USDQ were introduced to meet the growing need for stronger and more well-regulated stablecoins.

The EURQ and USDQ stablecoins will be issued and managed on Hadron. This platform has streamlined the process of creating stablecoins and other tokenized assets. Hadron has pre-built compliance features, which make it a better solution for tokenizing stocks, bonds, and stablecoins.

This technology ensures that token issuers, including Quantoz, can operate within regulatory frameworks while maintaining efficiency and security. Tether’s strategic transition to compliant solutions like EURQ and USDQ addresses the needs of the evolving digital economy and will strengthen its position as a leader in the stablecoin market.

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Circle has announced the upcoming launch of its USDC stablecoin and Cross-Chain Transfer Protocol (CCTP) on the Aptos blockchain. This move marks a new phase in Aptos’ evolution as a scalable layer-1 blockchain designed for diverse Web3 applications.

Concurrently, Stripe will integrate Aptos into its crypto payment products, enabling businesses and individuals to convert fiat currencies into USDC and vice versa. This development will expand the accessibility of stablecoin payments across global markets.

Circle USDC and CCTP Set To Streamline Transactions on Aptos

According to a recent blog post, Circle will issue USDC natively on Aptos, eliminating the need for bridged versions. Native issuance ensures better efficiency and security for the blockchain’s growing DeFi ecosystem. Developers will also gain access to CCTP, which allows cross-chain transfers between Aptos and other blockchains, including Ethereum, Solana, Arbitrum, and Base.

Bridged USDC currently dominates Aptos’ stablecoin usage, with $160 million in circulation. However, the transition to native USDC will phase out bridged versions over time. To manage this shift, the bridged version will be renamed “lzUSDC,” and liquidity will gradually be migrated to the native USDC. Existing bridge providers, such as LayerZero, will facilitate the transition smoothly, ensuring continued operations for users and applications.

Reacting to the update, the Co-founder and CEO of Circle, Jeremy Allaire, added, 

“USDC + CCTP + Aptos = high-performance, very powerful programmable money infrastructure.  Excited for the upcoming launch!”

Stripe Integration Enhances Fiat-to-Stablecoin Transactions

Stripe’s integration with Aptos will enable users to convert fiat currencies like USD directly into USDC and vice versa through Aptos-enabled wallets. This feature will benefit global merchants by allowing them to process transactions more securely, quickly, and cheaply.

With the addition of Aptos to Stripe’s crypto products, businesses can leverage stablecoin payments to expand their operations globally. This partnership bridges traditional finance with blockchain technology. Simultaneously, it offers a streamlined solution for cross-border payments and enables widespread adoption of Circle’s stablecoin within the Stripe ecosystem.

In addition, beyond its initiatives with Aptos, Circle is preparing for an expansion into Hong Kong. The company aims to establish a local presence by applying for a license under the region’s upcoming stablecoin regulations. Hong Kong’s pro-crypto environment, including same-day USD settlements, positions it as a strategic hub for operations in Asia.

As part of its broader growth strategy, the stablecoin issuer is also exploring other Asia-Pacific markets, including Australia. These initiatives come as the company prepares for its highly anticipated IPO.

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Quantoz, a Netherlands-based financial technology company, has launched two MiCAR-compliant stablecoins with the help of Tether technology. EURQ and USDQ aim to revolutionize financial transactions in Europe. The stablecoins pegged to the Euro and US Dollar, are designed to offer a more efficient, transparent, and regulated alternative to traditional payment systems. With the backing of Tether, Kraken, and Fabric Ventures, the Dutch firm is well-positioned to lead in the European stablecoin market.

Tether CEO Reveals Quantoz Used Their Platform to Launch MiCAR-Compliant Stablecoins 

Tether CEO Paolo Ardoino recently revealed that Quantoz, a Netherlands-based financial technology company, used the company’s Hadron platform to launch two new MiCAR-compliant stablecoins—EURQ and USDQ.

The firm investment arm has supported Quantoz, demonstrating growing collaboration between industry leaders in the stablecoin sector. Quantoz aims to improve financial transactions in Europe with these stablecoins, offering a more efficient and transparent alternative. The stablecoins comply with the European Union’s MiCAR regulation, ensuring a secure and compliant solution for cross-border payments.

Quantoz choses Hadron by Tether to launch regulated MiCAR-compliant European stablecoins. Just 3 days after launch, Hadron received over 100 inquiries to launch tokenized assets.

Excited to make high-quality tokenization more accessible globally. https://t.co/WYYeCdDIKS https://t.co/Cyg7xUisAk

— Gabor Gurbacs (@gaborgurbacs) November 18, 2024

The timing of these stablecoin developments is particularly notable. Just recently, Ripple Labs developers announced a partnership with Societe Generale-Forge to integrate the EURCV stablecoin into the XRP Ledger (XRPL). This further underscores the increasing momentum around stablecoins and their potential to reshape global financial systems.

Meanwhile, Paolo Ardoino also highlighted his company’s involvement with Quantoz. He underlined how such a launch for his company is easily facilitated by the integration of Tether’s Hadron platform.

Tether Investments invests in Quantoz, a company issuing 2 MiCAR-compliant European grassroots stablecoins (EURQ and USDQ), leveraging our new Hadron by Tether technology platform, for tokenizing any asset in the world, from stablecoins to equities, bonds, funds, real-estate and… https://t.co/cu4Wery2Au

— Paolo Ardoino (@paoloardoino) November 18, 2024

Ardoino emphasized that EURQ and USDQ will utilize Hadron, the token’s technology, to tokenize a wide range of assets. This positions USDT as a leader in the asset tokenization space.

Quantoz, backed by a consortium including Kraken, focuses on creating efficient, compliant, and secure stablecoin solutions within Europe. EURQ and USDQ are euro and dollar-referenced E-Money Tokens aiming to enhance financial transactions with lower costs and greater transparency compared to traditional European payment systems. Its main goal is seamless digital transfers across European markets, positioning itself as an indispensable option alongside the legacy financial infrastructures.

That Quantoz uses the Hadron platform, another iteration of Tether’s decade-long expertise in the digital asset space, for the issuance and management of those tokens. Also, for stablecoins and all altcoins, it seems the golden age is coming, and some exploding altcoins coming in the near future.

In a positive turn for Ripple Labs, the court granted an order supporting Ripple, XRP II LLC, and CEO Brad Garlinghouse.

Bringing Secure and Compliant Tokenization to the World

Hadron offers a non-custodial solution for tokenizing real-world assets, equipped with comprehensive compliance tools, including KYC, AML, and KYT controls. It also provides risk management features, market monitoring, and wallet connection technologies, spanning both blockchains and centralized exchanges.

This full suite of controls makes Hadron a powerful platform for secure and compliant digital asset issuance. The company’s investment in Quantoz and the Hadron platform represents a strategic move that could shape the future of tokenized assets.

Quantoz, as Hadron’s first public user, has the opportunity to leverage its full potential to tokenize a wide range of asset classes. This collaboration could redefine the use of digital assets globally, promoting financial inclusivity and opening new opportunities in markets worldwide.

Moreover, the success of EURQ and USDQ could pave the way for the mainstream adoption of stablecoins and assets in everyday financial transactions across Europe and beyond. This investment continues Tether’s broader mission to enhance the digital economy and unlock new economic opportunities across industries.

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Tether’s investment division successfully funded its first crude oil transaction in the Middle East. The transaction, involving a leading publicly traded oil super-major and a top-tier commodity trader, facilitated the transport of 670,000 barrels of Middle Eastern crude oil, valued at approximately $45 million.

Tether Expands USDT Adoption with First Middle East Crude Oil Deal

In a recent announcement, Tether shared that its Trade Finance unit had completed its inaugural crude oil transaction in the Middle East, a venture valued at $45 million. This move marks the stablecoin issuer’s first foray into the regional crude oil sector, highlighting its commitment to expanding USDT in global trade finance. 

More so, the transaction facilitated the loading and transport of 670,000 barrels of crude oil. This indicates Tether’s growing role in commodities leveraging USDT in industries for efficient payment solutions.

Following the development, Tether CEO commented, 

“With USDT, we’re bringing efficiency and speed to markets that have historically relied on slower, more costly payment structures. This transaction marks the beginning, as we look to support a broader range of commodities and industries.”

The stablecoin issuer Trade Finance division, launched earlier this year, operates independently of Tether’s stablecoin reserves. It focuses on funding opportunities within the $10 trillion trade finance sector.

This milestone positions Tether to explore further opportunities in commodities trading and other sectors, such as finance, agriculture, and asset-backed lending, promoting the adoption of its stablecoin.

The company’s ability to manage trade deals via blockchain-backed funds further solidifies his position, utilizing USDT as a stable and efficient payment tool.

Strong Q3 Growth Amid Expanding Regional Reach

In its Q3 2024 report, the company disclosed a net profit of $2.5 billion, reinforcing its robust financial standing. The company has posted profits across the year due to investments in assets like U.S. Treasuries and gold. This profitability has enabled the stablecoin provider to expand its investment arm and support large-scale transactions.

Additionally, last week, the stablecoin company launched a Dirham-pegged USDT on the TON Network to expand its footprint in the Middle East. This new stablecoin will serve the region’s growing Web3 and financial technology ecosystem, with increased adoption expected as businesses in the United Arab Emirates continue integrating blockchain technology.

Recently, Tether’s CEO Paolo Ardoino clarified a 2 billion USDT minting on the Ethereum blockchain, part of its liquidity management strategy. This move, executed through a chain swap, involved redistributing USDT from various blockchains to Ethereum to optimize liquidity. 

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