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Curve Finance Has a Stablecoin within the Works

A stablecoin from main automated market maker (AMM) Curve Finance could also be across the nook.

The information comes proper after DeFi lender Aave introduced plans for its GHO stablecoin earlier this month.

Data is restricted to this point, however a submit from Twitter person mrblocktw, who lists Curve Finance in his bio and in addition holds the “Curve Crew” function within the venture’s Discord, signifies {that a} stablecoin from the protocol is imminent.

Overcollateralized

Curve founder Michael Egorov reportedly confirmed that the stablecoin will likely be overcollateralized at a web3 summit.

It stands to purpose that the

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Posted On : Published By : Mark Jensen
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Hector Finance Launches Its A lot Anticipated TOR Stablecoin Farm

Bristol, United Kingdom–(Newsfile Corp. – February 18, 2022) – Hector Finance, a growing monetary heart on the Fantom Opera Chain has launched the much-awaited farming pool for its stablecoin undertaking TOR with which customers can get pleasure from rewards of greater than 30% APR. The TOR stablecoin works equally to Terra’s UST: customers can mint TOR with DAI or USDC, which then burns Hector Finance’s underlying HEC tokens on the open market, thus as TOR grows, so does HEC. Hector Finance can enhance its treasury reserves and make investments extra in yield-bearing merchandise because the HEC ecosystem grows, permitting for

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Posted On : Published By : Mark Jensen
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USD Coin (USDC) stablecoin to change reserves composition

Digital currency company Circle had claimed its stablecoin, USD Coin, was backed 1:1 by actual dollars in a bank account.

In July, it was revealed this was no longer the case, with Circle disclosing in an “attestation” from auditors Grant Thornton that cash made up just over 60% of USD Coin’s reserves. The other 40% was backed by various forms of debt securities and bonds.

What constitutes a stablecoin’s reserves is important. What sets them apart from other cryptocurrencies is the fact they’re pegged to an existing currency like the U.S. dollar or the euro. The aim is

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Posted On : Published By : Mark Jensen
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The future is stablecoin. Wise regulation can foster its growth

A visual representation of digital currencies.

Yuriko Nakao | Getty Images

Virtual payments can be costly and slow – which makes them ripe for disruption by digital currencies, particularly stablecoin.

What makes virtual payments inefficient is that they occur in a multitude of smaller closed networks: banks facilitate transfers linked to accounts, credit card networks enable payments on credit, and payment processing firms like PayPal offer payments within their own ecosystem.

Since these transactions require a middleman to facilitate them, they can become expensive, slow and restrictive. McKinsey estimates the financial system makes $2 trillion annually from facilitating payments.

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Posted On : Published By : Mark Jensen
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BoE says ‘stablecoin’ payments need same rules as banks

The Bank of England said on Monday that payments with ‘stablecoins’ – a form of cryptocurrency usually pegged to a traditional currency – should be regulated in the same way as payments handled by banks if they start to become widely used.

The central bank also said it had made no decision yet about whether to issue its own central bank digital currency, or CBDC, a prospect dubbed ‘Britcoin’ by finance minister Rishi Sunak when he asked the BoE to look into this in April.

“The prospect of stablecoins as a means of payment and the emerging propositions of CBDC

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Chancellor: Digital currencies are no “stablecoin”

Newly-minted coins bearing the slogan ‘Egypt’s Medical Teams’, to commemorate Egypt’s frontline workers fighting the coronavirus disease (COVID-19) pandemic, are seen in Cairo, Egypt February 15, 2021.

Digital coins issued by central banks could prove the most significant financial innovation since the invention of paper money. Central bankers claim their new money will drive bitcoin and other cryptos out of the market. But if the early history of paper money is any guide, a digital currency at the outset will be no “stablecoin”, and is more likely to prove a force for inflation and other economic woes.

The Chinese discovered

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Posted On : Published By : Mark Jensen