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Stable.Report, Jan. 27th — Feb. 3rd

Stablecoin News of the Week:

Iran Launches Gold-Backed Stablecoin Amidst US Sanctions 🇮🇷 On January 30th the Iranian government unveiled a gold-backed stablecoin. The sovereign stablecoin is called PayMon (covenant in Persian) and was designed and developed by Kuknos, an Iranian company focused on tokenization of different types of assets. To ensure the proper functioning of the stablecoin as a currency, the Iranian government and Kuknos made alliances with 4 banks: Mellat, Melli Iran, Pasargad and Parsian Bank. -via Ethereum World News

World’s Largest Gun Auction Site to Add Stablecoin ‘FreedomCoin’ 💣 Major United States-based firearms marketplace will integrate a new stablecoin dubbed “FreedomCoin” as a payment method, according to a press release from the coin’s developers. Blockchain startup ICOx Innovations announced the coin today as a “new regulatory compliant corporate currency” to be used to make purchases on — reportedly the world’s largest website for hunting and sport shooting firearms. The site has reportedly 4.7 million customers and sees $600 million in transactions annually. -via

Unbanked: This Guy Founded a Legal Company With Stablecoin DAI 🤙Yessin Schiegg has shared his experience founding a company after a bank closed his account. He used DAI as seed capital and successfully established an unbanked company, duly recording it in the corporate registry. -via Our Status

Analysis: Will China Issue Its Own National Stablecoin After All? 🇨🇳 If you’ve been paying attention to what’s been happening in the cryptocurrency world in China over the last two years, the idea of the country creating its own stablecoin may be a little… well, unlikely. However, the country was actually the world’s first to develop a national cryptocurrency. Since the initiative began, however, the effort appears to have gotten a little lost along the way. -via Finance Magnates

World’s First Bitcoin Futures Settled in Stablecoin 1️⃣ Quanto futures are Futures where the pay-off is calculated in one currency but paid in another currency. Simply put, quantos are nothing but vanilla futures contracts which are margined and settled in a 3rd currency. This 3rd currency though has a fixed exchange rate with the base currency for the duration of the contract. Learn more here. -via Pankaj Balani

Project Updates:

Lunar New Year SDUSD Red Envelope Airdrop 🎉 Alchemint wished a happy new year to all the community members with the “SDUSD Red Envelope AirDrop”.  -via Alchemint

Getting Through the ARCC Whitepaper Part 1 🙇 The soon-to-launch ARCC project has a 135-page long whitepaper. This post explains why such length was needed to give a full picture of the system, and suggests giving the full white paper a read. -via ARCC

Bitspark Debuts Hong Kong Dollar-Pegged Stablecoin on Decentralized Exchange 🇭🇰 Hong Kong-based money transfer platform Bitspark launched the first stablecoin pegged to the Hong Kong dollar (HKD) on Jan. 29th. Bitspark launched the Sparkdex.HKD stablecoin as a feature on its SparkDEX decentralized exchange. -via

Stablecoins Great For Cross Border Transactions (Radio) 🎙 George Harrap, CEO and Co-Founder of Bitspark, joined Paul Allen and Doug Krizner on Daybreak Asia to discuss the launch of Sparkdex.HKD, the first stablecoin to be pegged to the value of the Hong Kong dollar. He explains what stablecoins are and what benefits they offer in terms of trust and for transactions. -via Bloomberg

Alchemint Monthly Progress Report (Jan. 2019) 📑 From increased issuance of SDUSD, to R&D, partnerships and community events, Alchemint shares many updates on this post.  -via Alchemint

Carbon Now Supports ACH Payments 🛠 Carbon announced that its FDIC-insured CUSD stablecoin now supports ACH payments within its suite of payment options. By enabling users to leverage ACH in addition to wire transfers, the company is widening the funnel for potential users and reducing friction for all holders of the CUSD token on both the EOS and Ethereum Blockchains. -via Carbon

Celo Team Updates | January 2019 📃 For the past month, the Celo team has been prepping for the pilot with the UN World Food Programme in Tanzania, wrapping up research exploring the inclusivity of Proof-of-Work versus Proof-of-Stake, building the protocol, and gearing up for another employee hiring push. -via Celo

Interview With Danny Deng, Chairman, Tai Cloud Corp 🗣 An interview with Danny Deng, Chairman of the Tai Cloud Corp. and GM of the Beijing Blockchain Ecosystem Investment Fund, seeking insights on D1 Coin project and its potential to become a power player in what appears to be an early market of asset based tokens. -via D1

Eidoo: the Hybrid Exchange is Officially Online Within the App 📲 Eidoo announced the release of the Eidoo Hybrid Exchange directly on the Eidoo app, available for iOS, Android and desktop. -via Eidoo

STO Cooperative Launched in Seoul 🇰🇷 An international cooperative organization for Security Token offering — STOCOOP was announced at the Seoul Blockchain Convergency Summit. This summit was hosted by MTN, a Korean media group and Chainers, a Korean Blockchain investment institution, attended by Government officials such as the Mayor of Seoul, Silvio Schembri and members of the Korean Financial Services Commission.  -via everiToken

Everex Expands Into the US Market 🇺🇸 Alexi Lane, founder and CEO of Everex said that the team believes it is the right time to introduce its solution to the US market.  -via Everex

Gemini Completes SOC 2 Review — A World’s First For a Cryptocurrency Exchange and Custodian 🕴 In 2018, Gemini engaged with Big Four auditor Deloitte & Touche LLP (Deloitte) to execute a SOC 2® — SOC for Service Organizations Type 1 examination. After months of preparation and an in-depth external review, the team was pleased to announce that Gemini has successfully completed its SOC 2 Type 1 examination. This makes Gemini the world’s first cryptocurrency exchange and custodian to demonstrate this level of security compliance in protecting customer data and funds. -via Gemini

GLX Global Stablecoin Listed On The Lykke Exchange 🎉 GLX, Globcoin’s stablecoin was listed on the Swiss-based Lykke Exchange February 1st and is now trading. The GLX Stablecoin is linked to a basket of the world’s top 15 currencies. Helie d’Hautefort, Globcoin’s CEO, expressed that Lykke has a high reputation in the industry for their seriousness and professionalism. -via Globcoin

Huobi CEO Fires Back at Doubters 🔥 Rumors have been swirling about Huobi’s financial problems, relocation and large scale layoffs. Huobi’s CEO, Li Lin, dismissed these rumors on poor journalism and disclosed five major measures to boost confidence in the Huobi Token within the market. -via Asia Crypto Today

A Glimpse into a Tokenized Universe 💰 In this article, Jibrel describes a positive outlook of the future of utility tokens. While forming the vast majority of tokens currently out there, utility tokens are just scratching the surface of what they can achieve. Currently, a range of innovative new solutions that address centralized systems are being created. Learn more here about examples such as Access Tokens, Work Tokens and Governance Tokens. -via Jibrel

Jibrel: January Update 🗓 Jibrel successfully integrated localization features into the Jwallet as well as support functions to ensure it can begin to service the Korean and Chinese user-bases more effectively. -via Jibrel

South Korean Fintech Firm Launches First Won-Backed Stablecoin 🇰🇷 South Korea-based fintech firm BxB Inc. has launched the first stablecoin backed by the Korean won, KRWb. Currently KRWb can be acquired on Coblic, BEQUANT, KRWb’s AirSwap Space or through direct OTC purchases in larger quantities from QCP Capital. -via KRWb

MakerDao CDP Creation Is Up Over 300% in the Last 4 Months 📈 The number of collateralized debt positions (CDPs) created in a single month reached its all-time high, with1839 CDPs created this January according to Comparing this to the amount of CDPs that were created in December of last year shows an increase of more than 97%. There were 933 CDPs created in December, and 661 created in November of 2018. -via LongHash

MakerDAO CDP Tutorial 📺 If you are still confused about MakerDAO’s CDPs, this 20 minute video is a good dive to better understand it, its pros/cons and the alternatives. -via CryptoBobby

Interview with Head of Engineering at MakerDAO, Wouter Kampmann 📺 A brief interview exploring MakerDAO’s current solutions, trade-offs and how the UX, smart contracts and security affect its development as a decentralized stablecoin solution. -via Bitcoin Magazine NL

MoneyToken Launching an Echange in Collaboration with Huobi Cloud🥂 MoneyToken is launching an exchange in collaboration with Huobi Cloud, giving MoneyToken the ability to leverage Huobi Cloud’s technical expertise, security know-how and liquidity. -via MoneyToken

200 ETH Lottery for the Early Birds 👏 MoneyToken announced plans for a 200 ETH lottery, inviting all early users of the new MoneyToken Exchange to participate. Learn more here. -via MoneyToken

Stablecoin PAX Garners $10 Billion in Transactional Volume 📈 Four months since its launch, PAX has had a record transaction volume of more than $10 billion, including on-chain transaction volume and exchange trading volume. Data shows that the weekly transaction rate is almost $580 million and the weekly redemptions as of now are at $16.7 million. In total, Paxos has an over-all issuance of $394 million. -via Bitcoin Exchange Guide

StableUSD (USDS) is the Newest Stablecoin to Join Binance’s Stablecoin Market 🍻 Stably is excited to announce the official launch of USDS on the Binance combined stablecoin market. Binance will open trading for USDS/BTC trading pairs on Tuesday, February 5th, at 7:00PM PST . Users can start depositing USDS tokens now in preparation. Learn more here. -via Stably

Month in Review: January 🗓 January has been a month of new partnerships for Stasis, with EURS listed on multiple new exchanges, including DDEX -the the second largest decentralized cryptocurrency exchange. -via Stasis

Have You Met Marco? 🤓 Meet Marco Di Maggio, one of Terra’s core researchers who dedicates his non-teaching hours at Harvard Business School to Terra. He focuses on researching and implementing the protocol design, stability mechanism, discount regime, and growth incentives at Terra. -via Terra

ROCKZ Platform is Live🍾 ROCKZ announced that the platform is live. -via ROCKZ

Should Cryptocurrency Exchanges Register with the SEC? 🤔 The Semada team explores if exchanges should register with the SEC. It concludes that, although enforcement actions changed little as far as considerations of registration, it could be a sign of what could be coming in 2019. It will be interesting to see whether cryptocurrency exchanges start to pursue ATS registration or continue to avoid registration altogether. -via Semada Research Institute (SRI)

Interview with XOV CEO David Alexander Knowles 📺 An interview with XOV CEO, David Alexander Knowles, discussing future plans, current developments, partnerships, charity and regulations. -via CryptoWendy

USDC Ecosystem Spotlight 🔍 Nearly 100 exchanges, protocols, platforms, applications, wallets and service providers that are part of the USDC ecosystem; USDC’s market cap has surpassed $300 million. -via Circle Team

Xank January Review 🗓 Learn here about Xank’s upcoming events and their completion of the second round of funding to continue developing their stablecoin and wallet. -via