Tag: Stablecoins

Tron founder Justin Sun kept his promise and introduced the project’s own algorithmic stablecoin, designated USDD. The unique thing about the new token is that it is backed entirely by cryptocurrency. There seems to be a new trend going around. The moment Terra launched its UST stablecoin (having issued over $18 billion), the Tron blockchain…

Stablecoin TerraUSD (UST) has lost its dollar peg, falling to as low as $0.65 on Monday. Meantime, the price of LUNA, its sister token, has dropped over 44% to $35 in the past 24 hours. The accident comes after the Luna Foundation Guard (LFG) announced that its massive Bitcoin reserves will be used to defend…

Tron, an Ethereum competitor blockchain, announced the launch of USDD, an algorithmic stablecoin inspired by the success of Terra’s UST, which has topped $18 billion in total issuance. USDD has launched on TRON, BNB Chain, and Ethereum blockchains. The team behind the stablecoin has promised “zero-risk” returns of about 30% APY, and users currently need…

Circle, the issuer of the world’s second-largest stablecoin, USDC, is pursuing international expansion after securing $400 million in funding. BlackRock and Fidelity headlined the new funding round, which follows a $440 million raise last May. The capital raise, led by major investors, such as Blackrock, Fidelity Management, Marchall Wace, and Fin Capital, is expected to…

The Luna Foundation Guard, a Singapore-based nonprofit building reserves for the stablecoin Terra (UST), announced that it would buy $200 million worth of AVAX tokens from the Avalanche Foundation to augment its UST reserves. This strategic move pushes forward Terra’s cross-chain development and diversification. The Luna Foundation Guard (LFG) and Terraform Labs (TFL), the two…

Lightning Labs announced Tuesday that it is building infrastructure that would allow users to send money worldwide at a low cost and almost instantaneously through the Bitcoin network. Taro protocol, which will enable stablecoin transactions, is based on Bitcoin’s Taproot upgrade launched in November 2021. According to Decrypt, the company raised $70 million in a…