German Gov’t Speaks Against Approval of Facebook’s Libra in Europe

The government of Germany has spoken against the authorization of the development of Facebook’s forthcoming Libra stablecoin in the European Union. As German weekly news magazine Spiegel reported on Sept. 13, the Christian Democratic Union (CDU) parliamentarian Thomas Heilmann — who is responsible for the blockchain policy of the CDU and Christian Social Union in…

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Report: Libra Stablecoin Tied to Major Currencies, Maybe Not Yuan

Social media giant Facebook, which is currently trying to get regulatory approval for its Libra stablecoin project, reportedly shared details regarding the project’s proposed backing reserves. According to a report by Bloomberg on Sept. 9, Facebook told United States senators about the backing reserves for the stablecoin — a type of cryptocurrency valued by a…

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P2P Crypto Lending Is on the Rise

As peer-to-peer cash, it only seems logical that cryptocurrency should be deployed for P2P lending. While that application has taken time to materialize, bitcoin and other crypto assets are now increasingly fulfilling that purpose. Across the BTC, BCH and ETH networks, credit is being supplied to ordinary citizens while bypassing its traditional gatekeepers, usurping the…

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Liquid Launches Support for Tether

The cryptocurrency industry’s predominant stablecoin, tether, now has a new home on Blockstream’s Liquid sidechain. As of today, July 29, 2019, the Bitcoin secondary network now supports USDT as one of its Liquid assets. These assets, the tokens that power the Liquid network, hold a one-to-one parity with on-chain assets like BTC. Liquid USDT will…

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Survey: Facebook’s Stablecoin Libra Unlikely to Become Mainstream

Financial services firm Jefferies’ recent survey indicates that American users will hardly use Facebook’s forthcoming stablecoin Libra due to a lack of trust, The Block reported on July 1 In the survey, which included over 600 respondents, four in five people reportedly chose  “Unlikely” or “Very unlikely” when asked whether they would purchase Libra. 45%…

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Binance Research: Facebook’s Libra Could Spark Additional Cryptocurrency Volume

Binance Research, the research arm of major cryptocurrency exchange Binance, claims that Facebook’s Libra stablecoin could spark additional cryptocurrency volume in a post published on its blog on June 18. In the announcement concerning the release of the full report, Binance Research claims: “Libra could spark additional cryptocurrency volume due to increased accessibility from both…

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Crypto Lender Sees High Demand for Stablecoin Loans in Chinese Market

Asia-based crypto lender BabelBank has announced a record-high number of crypto-collateralized loans issued amid new rebranding efforts. The crypto firm will now be called BabelFinance, a name change which, the company says, signifies its efforts to offer broader services for crypto users, especially in the Chinese market. In a statement, the crypto lender claims to…

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