Monday Markets Wrap-up: Portfolios Should Still Be Green Today
PayPal creates a crypto business unit, while Visa will launch crypto-related APIs.
PayPal creates a crypto business unit, while Visa will launch crypto-related APIs.
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.
A little over two weeks left and we bid this year goodbye.
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.
Tether (USDT) continues to dominate, representing 85% of the total stablecoin supply. USDC follows at a very distant second (7.2%).
(Update) The Bangko Sentral ng Pilipinas (BSP) approved UnionBank as the first commercial bank that will issue bank-backed Peso blockchain-based token.
Bitspark said they see this as a way forward to introduce stablecoins without the need for understanding blockchains directly.
BitSpark, a “bankless money transfer” service is reportedly going to launch a Philippine Peso or PHP-backed stable coin called peg.PHP.