Stablecoin

The trading volume of USD Coin (USDC) has increased dramatically following the announcement by Visa of accepting the cryptocurrency for payments. Visa Inc. will become the first payments giant to allow its over 60 million merchants to settle transactions in USDC, a 12th cryptoasset by market cap and a stablecoin that is backed by US dollar (USD) created on the Ethereum blockchain.

Decentralized finance (defi) burst onto the scene in 2020, as investors rallied behind the enormous potential of peer-to-peer financial services.

The US Independent National Committee is establishing a union to promote interests of independent politicians with the support of the 2020 Presidential candidate and a cryptocurrency billionaire Brock Pierce.

The European Commission (EC) approved on Thursday September 24, a digital finance package, including a retail payments plan, digital finance strategy and legislative proposals on cryptocurrency and digital resilience, for a booming European Union (EU) financial sector that gives customers access to state-of-the-art financial goods and services.

A lot of people don’t know the difference between cryptocurrencies, stablecoins, and privacy coins. On one hand, both stablecoins and privacy coins belong to cryptocurrency. However, these kinds of coins possess peculiarities cryptos like bitcoin don’t have.

The governor of the Bank of England admitted that payment innovations like cryptocurrency, stablecoins, central bank digital currencies (CBDC), etc., have been gaining momentum due to the lockdown.

2020 is the year of DeFi. The total market value, user volume, and lock-up funds pf DeFi have skyrocketed, driving the rapid rise of decentralized lending, derivatives, decentralized stablecoins, DAOs, DEXs, oracles, etc.

As the world becomes increasingly digital, the financial institutions we are used to having to adjust and turn to innovations. While some of them are exploring the possibility of developing and launching their own digital currency, others are looking to take advantage of the existing technologies such as stablecoins.

The International Monetary Fund (IMF), an organization working to secure financial stability globally, has repeatedly expressed its antagonism to the issuance and circulation of the Marshall Islands’ state-run digital money currency.