Reminder: Upcoming NFT 101 Livestream for Filipino Artists (March 31, 2021)
Plus Axie Infinity account got suspended, community rallies support.
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Stablecoin
Monday Markets Wrap-up: Portfolios Should Still Be Green Today
PayPal creates a crypto business unit, while Visa will launch crypto-related APIs.
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Counterweight: The Case for Bitcoin as Central Bank Reserve Asset by Atty. Rafael Padilla
Rafael proposes that bitcoin, a new asset class, should be considered as a strategic reserve asset that can function as systemic hedge that will help maintain financial stability amid the economic havoc that is COVID-19 Pandemic, and to insulate the domestic financial system from the vulnerabilities of the current U.S. dollar-centric international monetary system.
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Wednesday Watch: Pounding on Resistance
A little over two weeks left and we bid this year goodbye.
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Legal and Regulatory Aspects of Stablecoins by Atty. Rafael Padilla
While the use of stablecoins could implicate several aspects of the law, three areas attained some level of prominence within legal and policy circles: securities regulation, anti-money laundering (AML), and financial service licensing.
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Stablecoin Supply Exceeds $10 Billion
Tether (USDT) continues to dominate, representing 85% of the total stablecoin supply. USDC follows at a very distant second (7.2%).
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UnionBank to Launch Peso Stablecoin Called PHX
(Update) The Bangko Sentral ng Pilipinas (BSP) approved UnionBank as the first commercial bank that will issue bank-backed Peso blockchain-based token.
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Bitspark CEO Explains the Importance of Peso Stablecoin (and Stablecoins in General)
Bitspark said they see this as a way forward to introduce stablecoins without the need for understanding blockchains directly.
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BitSpark Will Launch Philippine Peso Stablecoin
BitSpark, a “bankless money transfer” service is reportedly going to launch a Philippine Peso or PHP-backed stable coin called peg.PHP.
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