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Ethena Launches New UStb Stablecoin Backed by BlackRock’s Tokenized Fund
Ethena will release $UStb, a stablecoin backed by BlackRock's tokenized U.S. Treasuries fund, BUIDL. It offers a safer alternative to its current $USDe. Key points: Introducing $UStb: Ethena plans to launch $UStb, partnering with Securitize. Backed by BlackRock's BUIDL fund: $UStb ties directly to tokenized U.S. Treasuries. Separate from $USDe: $UStb provides a different risk......
Revolut Nears Launch of Its Own Stablecoin
Revolut is reportedly developing its own stablecoin, aiming to expand its cryptocurrency offerings and solidify its position as a crypto-friendly fintech. Key points: Stablecoin development: Revolut is working on its own stablecoin, sources confirm. Compliance focus: The fintech giant emphasizes a compliance-first approach for this venture. Global crypto strategy: The move aligns with Revolut’s broader......
$USDC Stablecoin Expands to Sui Network with Cross-Chain Support
Circle’s $USDC stablecoin will soon be natively available on the Sui network, expanding its reach across multiple blockchains. Key points: Native support: $USDC will be available on the Sui network via Cross-Chain Transfer Protocol (CCTP). Enhanced interoperability: CCTP enables seamless $USDC transfers across different blockchain networks. Faster transactions: Sui uses the Move programming language for......
Sony Bank and Soneium Partner to Launch Japan’s First Yen-Linked Stablecoin
Sony Bank partners with Soneium to launch a yen-backed stablecoin, aiming to lower transaction costs and improve financial efficiency in Japan. Key points: Sony Bank and Soneium collaboration: The two companies are developing a yen-linked stablecoin. Focus on blockchain: The stablecoin aims to reduce transaction costs and streamline payments. Compliance first: Sony Bank will run......
Tether Invests $100M in Agriculture Amid Rising Stablecoin Competition
Tether has invested $100M in Latin America's Adecoagro, signaling a move beyond crypto as the stablecoin market gets more competitive. Key points: $100M investment: Tether bought 9.8% of Adecoagro. Agriculture focus: Adecoagro produces milk, sugar, and ethanol in Argentina and Brazil. Stablecoin race: Tether faces rising competition from PayPal and Ripple. Ripple’s RLUSD: Ripple is......
Japan’s Major Banks to Test Cross-Border Stablecoin Transfer Platform
Japan’s top three banks—MUFG, SMBC, and Mizuho—are collaborating on "Project Pax," a stablecoin platform for faster, cross-border payments using blockchain technology. Key points: MUFG, SMBC, and Mizuho: Leading Japan’s stablecoin trial. Project Pax: A stablecoin platform for cross-border settlements. Blockchain firms involved: Progmat, Datachain, and TOKI. Launch expected in 2025: Aiming to commercialize the platform......
Maker Rebrands to Sky and Prepares for USDS Stablecoin Launch
Maker just rebranded to Sky and is rolling out its shiny new $USDS stablecoin and $SKY governance token on September 18. It’s all part of a major overhaul called Endgame. Key points: Maker protocol is now Sky protocol: Say goodbye to Maker and hello to Sky. $USDS stablecoin: The new kid on the block, replacing......
Aave Labs Proposes GHO Stablecoin Integration with BlackRock’s $509M BUIDL Fund
Aave Labs is eyeing a collaboration with BlackRock to integrate its $509M $BUIDL tokenized fund into Aave's $GHO Stability Module, boosting stablecoin efficiency and yield opportunities. Key points: Aave Labs' big move: Aave wants to plug BlackRock’s $BUIDL fund into its $GHO Stability Module (GSM). BUIDL = Real assets: $BUIDL token represents traditional assets like......
Tether Teams Up for UAE Dirham-Pegged Stablecoin
Tether plans to launch a new stablecoin pegged to the UAE Dirham (AEDT), partnering with Phoenix Group PLC and Green Acorn Investments Ltd. Key points: The leading stablecoin issuer is launching a stablecoin pegged to the UAE Dirham, fully backed by UAE-based reserves. This is a collaboration with UAE-based Phoenix Group PLC and Green Acorn......
🥛 Battle of the blockchains: Stablecoin supremacy 🪖
Today’s edition is brought to you by Agoric – an orchestration and smart contract platform for universally accessing liquidity from across web3.Discover how Agoric can simplify your multi-chain experience.GM. This is Milk Road, the crypto newsletter that's as smooth as Michael Jordan's fadeaway jumper.Here’s what we got for you today:✍️ The race to acquire stablecoins💰......
