Posts with the TAG ags/stablecoin

Brian Armstrong's Crypto Vision 2023: The Future Blueprint for Decentralized Finance

US Federal Reserve Acknowledges Stablecoins as Currency: A Bold Move by Jerome Powell

The head of the European Central Bank (ECB) Christine Lagarde noted the advantages of state digital currencies and expressed concerns about the spread of stablecoins.

According to the analytical portal Coinmetrics, the boom of decentralized financing projects also affects stablecoins - the capitalization of the stable cryptocurrency market is growing by about $ 100 million per day.    

"Everyone got so excited about DeFi no one pointed out that stablecoins have been adding $100m/day since mid-July. DeFi yields/interest rates are clearly a vacuum sucking in a lot of stablecoins," Coinmetrics co-founder Nic Carter wrote on Twitter.

The world's largest social network Facebook plans to release its own cryptocurrency called GlobalCoin next year.

According to the BBC, Facebook will launch a system of cryptocurrency payments in the "dozen countries" by the first quarter of 2020. The company intends to begin testing the system by the end of this year. More information about Facebook plans will appear in the coming months.

The Governor of the French Central Bank and member of the Governing Council of the European Central Bank Francois Villeroy de Galhau said that the stablecoins have more potential than Bitcoin.

According to Bloomberg, Francois Villeroy de Galhau, in addition, believes that cryptocurrencies tied to fiat money, will benefit the global financial apparatus. 

Stablecoin, which is allegedly developing the social network Facebook, will serve as the foundation for the creation of a new payment system.

Project Libra - the internal name of the new blockchain-initiative Facebook - will use a stable cryptoasset, secured by fiat currency. Various sources report that the company is already working on attracting financial companies that will support the project.

Clem Chambers, general manager of the ADVFN financial market website, believes that the cryptocurrency winter is over and the price of Bitcoin will rise to $ 10,000 by the end of the year.

"All last year I said that Bitcoin would fall to $ 2.500. As a result, his quotes stopped at $ 3.000. Now he started to grow and I think his first goal is $ 6.000, and then $ 10.000," he said in interview to Forbes. "At the moment, we can safely say that the cryptocurrency winter is over. Here is my forecast."

Well-known venture investor and cryptocurrency enthusiast Tim Draper plans to meet with Facebook top managers in order to discuss the possibility of investing in the new stablecoin.

The New York Times, citing anonymous sources on Facebook, reports that the largest social network has already prepared the launch of its own cryptocurrency and is already in talks with the exchanges on listing.

It is reported that we are talking about stablecoin under the brand of messenger WhatsApp. The new coin will be pegged to the US dollar and used for domestic and international transfers between friends and family members via instant messenger. In the future, Facebook users and Instagram users, whose audience counts in billions of users, will also be able to use the stablecoins.