Stablecoin News of the Week:
Japan: Exchanges, FSA and Bank Step up Crypto Developments 🇯🇵 The First Bank of Toyama, which earlier this month announced it would launch a blockchain-powered stablecoin called FBC, has revealed details about the coin’s pilot. The bank hopes to commercialize its token in October 2019, and launched the pilot on 28th November 2018, which it says will run until April 23, 2019. The bank says it is running the pilot in conjunction with Intec, a Toyama-based IT firm. The coin will operate on the Japanese Bankers Association’s newly developed JBA Blockchain Collaboration Platform, and will allow FBC holders to pay in the stablecoin at restaurants and stores in the First Bank of Toyama’s headquarters. -via Crypto News
The Authorities of South Korea Licensed the First Crypto Exchange in the Country 🇰🇷 All digital asset trading platforms on the territory of South Korea the revenue of which exceeds $100 million require a special license, called ISMS (Information Security Management System license). Upbit became the pioneer in this regard. It received the license from the authorities for its well-built infrastructure. -via Coin Shark
Stablecoins a Boon for Merchants and Unbanked 🤓 A great piece by Omid Malekan for Diar, making the case for why stablecoins may be the best thing to have happened to crypto and how merchants will drive demand and stand to benefit the most once certain benchmarks are met -via Diar
Binance‘s New Stablecoin Moves ’➽ Binance added Paxos Standard Token as a quote currency and introduced the new Stablecoin Market. Find out more about these moves here. -via Binance
CoinPayments Is First to Offer Stable Coin Payment Processing 🤔 Merchants using the CoinPayments gateway now have the option to accept stablecoin payments within their ecommerce store. Until now, there hasn’t been a solution created for automated payment processing of stablecoins. The integration of US dollar-pegged stable coins into the CoinPayments platform provides users with hosted wallets and automated payments for TrueUSD (TUSD), USD Coin (USDC), Gemini Dollar (GUSD) and Tether (USDT). -via Coin Telegraph
EU Workers Now Have the Option to Take Their Pay in a Euro Stablecoin 💸 Blockchain Payroll Platform WorkChain.io has partnered with tokenization platform STASIS to enable euro-backed crypto paychecks for its European Union (EU) users with the EURS stablecoin. EURS becomes the second stablecoin selected for use on the WorkChain.io platform but the first one collateralized in euros. The platform also supports
TrustToken’s TrueUSD stablecoin, which is a fiat-collateralized stablecoin pegged to the U.S. dollar. -via Bitcoin Magazine
BitPay Partners with Paxos to Add PAX Support On Platform 😮 BitPay will be adding Paxos Standard Token (PAX) to its platform as an option for settlement. Merchants and businesses all over the world will have access to the PAX digital asset. -via UTB
Five More Companies Partner with Circle as USDC Coin Thrives in Stablecoin Token Boom 🥳 Circle, the cryptocurrency platform supported by Goldman Sachs, has been enjoying many successes lately. One of the most recently announced changes is the increase in support from other companies and exchanges. Based on a new blog on the official website, which was published on 29th November 2018, Circle now has partnerships with five new companies. The new companies include AirSwap, Atomic Wallet, Abacus Protocol, BlockMyTalent, and Opensea. -via Bitcoin Exchange Guide
Coinbase Launches OTC Crypto Trading Desk; USDC Stablecoin “One of the Most Liquid” on the Market 🤩 Coinbase launches its over-the-counter (OTC) trading desk for its institutional Prime customers today, with plans to integrate delayed settlement and Coinbase Custody. This move will reduce the costs of acquiring cryptocurrency for institutions and help reduce overall market volatility. -via Crypto Slate
IDEX Joins Messari’s Open Source Disclosures Registry for Increased Transparency and Self-Regulation ✌️ Messari, the leading provider of contextualized data and research tools for the cryptoasset industry, launched its open-source disclosures registry on 27th November. Aurora (IDEX) joined 11 additional launch partner projects who are committed to providing transparency and self-regulation within the blockchain industry. -via Aurora
Redefining Blockchain as a Public Good 🤓 In its weekly post, BitBay defines the nature of crypto asset and makes an interesting argument that blockchain can most accurately be described as a public good while cryptocurrency facilitates the private provision of a public good. -via BitBay
BitShares Core Release 2.0.181127 📋 Bitshares reported a consensus changing protocol upgrade on 28th November 2018. -via Bitshare
Celo Team Updates | November 2018 🗞 Celo included three big announcements for its November Team Updates: The project’s joining of the World Food Programme (WFP) Innovation Accelerator; a fireside chat with Naval Ravikant and Sep Kamvar, and welcoming their first engineering fellow Dr. Sumit Kumar Pandey to its team. -via Celo
DigixGlobal Joins the Gold Label Project with Binance Info 🤝 Binance Info has launched the Gold Label Project. DigixDAO token has become the 23rd to officially join this initiative and has received a verification from Binance Info. -via Digix
Forctis’ Second Meetup at Trust Square in Zurich 🇨🇭 Forctis recently hosted second Meetup at Trust Square in Zurich aimed at providing an update on the steady progress on multiple fronts (e.g. technology development, use cases, potential partnerships). -via Forctis
Havven is Transforming Into Synthetix 💄 Havven announced that Havven is rebranding to Synthetix. This decision represents a refinement of the project’s purpose and was reached after extensive consultation with key members of our community. -via Synthetix
Upgrade Guide: A Summary Of New Features Coming On December 15 ⛏Komodo announced that an update to the Komodo code base will be made on December 15, 2018 at 01:00 UTC. The update will activate a number of new features, including the Sapling Upgrade, 10 new assetchain parameters, and an increase in block size for all updated chains, from 2 MB to 4 MB. -via Komodo
Making Maker — Nov 2018 ✍️ MakerDAO posted its November highlights and made few announcements for its coming events, including: Donations via Dai, ETH or SNT to fund Status’ Merry Merkle to build a school in South Africa. And MakerDAO’s Core Community Development Initiative, which aims to directly foster the growth of the MakerDAO ecosystem by focusing on the community’s most motivated members. -via MakerDAO
MakerDAO President on the Boom in ‘Stablecoins’ 📺 Steven Becker President and COO of Stablecoin issuer MakerDAO, joined Cheddar to discuss the boom in the asset. -via Cheddar
Max Cajurzaa, Money on Chain CEO, “Ask Me Anything” in Bitcoin Mendoza 🎙 Bitcoin Mendoza is a group in Telegram for the discussion about cryptocurrencies within the Mendoza community (Mendoza, Argentina). On November 2nd, Money On Chain was invited to a round of questions. -via Money On Chain
Nollar — The Stable Alternative ➡️ This article explains an amazing use case of stablecoins, and specifically Nollar: Helping people in countries struck by an economic crisis gain access to a stable and trustworthy currency. -via Nollar
Liquidity. Liquidity. Liquidity. 🔬 In this week’s post, Mark Pey, co-founder of SendGold wrote a post, making an argument that one of the big advantages for owning SendGold gold is liquidity. -via SendGold
Steemit Update 😱 Given the weakness of the cryptocurrency market, the fiat returns on our automated selling of STEEM diminishing, and the growing costs of running full Steem nodes, we have been forced to layoff close to 70% of the team. -via Steemit
Stably Developing a Meta-Stablecoin to Mitigate Risks 😮 Stably, a VC startup responsible for StableUSD (USDS) has announced that its working on a meta-stablecoin that will have other stablecoins as its reserve. According to Stably, the meta-stablecoin will be a first in the market and will be tradeable between exchanges. The project team is developing the stablecoin with institutional investors in mind. The main aim of the project it to mitigate counter party risks. The team is also looking to build the stablecoin to act as privacy coin. -via Crypto Digest
Tether Reopens Account Verification and Direct Redemption of Fiat from its Platform 😮 This update allows the immediate withdrawal of Tether to fiat (1:1), with the ability to acquire coming soon. From 27th November 2018, all accounts will have new minimal issuance and redemption requirements equal to 100,000 USD and $100,000 USD₮, respectively.
It’s Time We Talk About the Future of Tiberius Coin 🎤 A post explaining the use cases in detail for Tiberius Coin. -via Tiberius
How TrueUSD Fulfills the Stablecoin Code of Ethics 📖 It is great to see projects taking initiative on issues of transparency and standards, something Stable.Report wants to see more of in the ecosystem. In its weekly post, TrueUSD lists four main points to support the proposition that TrueUSD fulfils the Stablecoin Code of Ethics:
Fully Backed. Every token will have the fiat equivalent settled in the bank to back it.
Stable. It will never deliberately cause the market price of our stablecoin to be worth less or more than the underlying currency.
Redeemable. It will never prevent or discourage legitimate redemptions.
Compliant. It will ensure long-term survival of the stablecoin through regulatory compliance. -via TrueUSD