Paxos CEO Charles Cascarilla believes that stablecoins need solid regulation to go beyond being just a tool for crypto enthusiasts and achieving mainstream adoption. Speaking to Bloomberg, Cascarilla explained that stablecoins would be unable to build trust without regulation, which is critical to attracting interest from outside of the crypto community. You can’t change the financial system in the long term without being regulated, he said. Fundamentally, stablecoins allow a lot more inclusion, Cascarilla explained, adding that stablecoins unlock a new way to move money. “But also at the same time, you want to have the right to have oversight.” …

The Bank for International Settlements (BIS) has reaffirmed its support for central bank digital currencies (CBDCs). In a report titled “CBDCs: an opportunity for the monetary system,” BIS researchers argued that sovereign digital currencies offered “the unique advantages of central bank money.” According to the report, CBDCs are the embodiment of digital money designed for the public good and are best suited for interfacing with instant retail payment systems. Indeed, several central banks around the world are experimenting with retail CBDCs with many of these projects examining ways to float a digital companion to their respective fiat currencies. Detailing a …

With decentralized finance growing fast enough that mainstream financial companies are taking notice, it’s a good time to be able to offer an alternative to Ethereum. The platform on which most of the DeFi business is built, Ethereum, is struggling under its weight. Compounded by the explosive growth of NFTs, Ethereum is proving too slow and far too expensive to handle DeFi as congestion drives the per-transaction gas price through the roof. Which is why a project like Free TON that says it can offer not only faster and cheaper transactions but the room to grow without running into trouble …

The growth of stablecoin's market cap and circulating supply has been one of the best indicators for attaining a general pulse on how participants in the market are feeling during bullish and bearish times. Monitoring the Tether (USDT) treasury for large issuances was a common tactic used by analysts and traders to position themselves for a possible pump in the price of Bitcoin (BTC) and altcoins and previously this has been a good source of alpha for those willing to take a risk. A closer look at the data provided by CryptoQuant indicates that a seismic shift in the makeup …

A platform that allows blockchain applications to be built using JavaScript has invited developers and entrepreneurs with bright ideas to take place in an online hackathon. HackOnLisk aims to support innovation on the Lisk network as it moves to the Sapphire phase of its roadmap — marking the moment where different blockchains within its ecosystem can communicate with each other for the very first time. In order to enter, participants need to build a blockchain application using Lisk SDK 5.1.0, the latest release, and provide a URL to an open-source repository. Last but by no means least, a 10-minute video …

European Central Bank (ECB) executive board member, Fabio Panetta, has argued that a digital euro offers superior privacy protections than privately issued stablecoins. Panetta criticized the profit motive of private firms, emphasizing it is in their commercial interests to harvest masses of data on their users. “We are not like private companies,” the board member told Financial Times. “We have no commercial interest in storing, managing, or monetizing the data of users.” The ECB official also confirmed that the European Central Bank has carried out pilots testing “offline payments for small amounts, in which no data is recorded outside the …

Shoppers wanting to cash out their crypto holdings to buy groceries may soon be able to do so at many H-E-B supermarkets in Texas. According to a Friday report from the Houston Chronicle, crypto ATM firm Coin Cloud is preparing to install machines into 29 H-E-B locations in the Houston area. The ATMs will allow customers to buy and sell more than 30 cryptocurrencies, including Bitcoin (BTC), Ether (ETH), Dogecoin (DOGE), Litecoin (LTC), certain DeFi tokens, and U.S. dollar-pegged stablecoins. Coin Cloud CEO and founder Chris McAlary said he expects “retailers will become increasingly aware of the important role digital …

Billionaire investor and DeFi proponent Mark Cuban has called for stablecoin regulation after losing money on what he dubbed as a “rug pull” on the Iron Finance protocol. According to Iron Finance, the partially collateralized stablecoin project was the subject of a “historical bank run” that resulted in the price of the IRON stablecoin moving off peg. As a consequence, the price of Iron’s native token TITAN crashed by almost 100% over two days from its all-time high of $64.04. Speaking with Bloomberg on June 17, Cuban blamed himself for “being lazy” and not doing enough research, but also raised …

Square peg, meet round hole: a decentralized autonomous organization is pondering taking a rival fork to court. Earlier today, a member of the Curve Finance community made a post in Curve’s governance forum titled “Enforce Curve’s IP Rights.” “Curve has proven incredibly popular, with over $10B deposited, hundreds of millions in daily volume, and around $1M/week in earnings to veCRV holders. This places it among the top of all exchanges in crypto today, even rivaling publicly-traded CEX’s,” the post reads. “[...] Those CEX’s protect their IP on behalf of their shareholders and there is no reason why Curve, just by …

With millions and even billions of dollars at stake, industrial-scale yield farming is leading to pockets of resistance as some projects refuse to be left with the chaff. In the past week, team members from no-loss lottery project PoolTogether and exchange liquidity pool provider Curve Finance have proposed ways to reduce the load Yearn.Finance strategies place on their protocols and governance tokens. In a Tweet on Sunday, PoolTogether co-founder Leighton Cusack noted that Yearn has become the primary beneficiary of many of the protocol’s DAI lotteries, as Yearn controls 57% of all DAI funds ($27 million of the $47 million …

A fintech platform says it is on a mission to stop passive hodling — helping them to unlock value from their cryptocurrencies in new ways. YouHodler offers crypto-backed loans that enable enthusiasts to generate liquidity from their digital assets without having to spend them. A suite of trading solutions encourage experimentation — while web and mobile wallets deliver “a safe and easy-to-use alternative to senseless crypto wallets.” By integrating a range of payment methods, including stablecoins, bank transfers and credit cards, YouHodler’s goal is to create seamless connections to the real world — ensuring crypto can be used for everything …

Two former PayPal workers in business and technology have launched a cross-border payment system aimed at “faster, cheaper, and more transparent payments.” In an announcement on Tuesday, fintech infrastructure firm Six Clovers said it launched its Rapid network, which connects banks, merchants and payment providers, allowing clients to transact in digital currencies and fiat. Founded by former PayPal employees Jim Nguyen and Nas Kavian and backed by venture capital firm Borderless Capital, the network is built on the Algorand blockchain and employs the technology behind stablecoins to represent fiat. “Six Clovers is creating a bridge between traditional and decentralized finance, …