Arca Funds Files With SEC to Issue Stablecoin-Like Digitized Shares on ETH Blockchain

Arca Funds, an American institutional-grade investment manager, is seeking regulatory approval to issue digitized securities on blockchain, according to a filing document released on April 12.The company has filed with the United States Securities and Exchange Commission (SEC) to issue its Arca UST Coins — digitized shares that will be authenticated and then recorded in…

MakerDAO to Increase Fees Above 10% in Bid to Stabilize DAI Stablecoin

news Investors who hold tokens in the programmatic lending protocol MakerDAO appear likely to approve a fifth fee increase that would further raise the cost of platform’s US dollar-backed stablecoin DAI. Since Monday, five different options have been presented to MakerDAO token holders, all of which suggested different possible increases to the platform’s “stability fee,” the most…

Texas Financial Watchdog May Recognize Stablecoins as Money for Licensing Purposes

The Texas Department of Banking could consider stablecoins as money, making them and exchanges that deal with them subject to a number of Texas laws and license requirements, according to a Supervisory Memorandum published on Jan. 2.Supervisory Memorandum – 1037, which published by the financial watchdog examines the regulatory treatment of digital currencies under the…

Bitfinex Crypto Exchange Launches Margin Trading for Stablecoin Tether

Hong Kong-based cryptocurrency exchange Bitfinex has introduced margin trading for stablecoin Tether (USDT), according to a blog post published Dec. 21.Bitfinex has launched margin trading for the USDT/USD pair, which would purportedly lead to more efficient price discovery and enable users to hedge the exposure taken on stablecoins. Along with a dedicated lending market, USDT…

Report: Stablecoins See Significant Growth in Adoption Over Recent Months

According to analysis by research firm Diar published Dec. 10, the adoption of stablecoins is growing based on the increasing number of on-chain transactions.Per Diar, four major stablecoins to date — USDC, True USD (TUSD), Paxos (PAX) and the Gemini dollar (GUSD) — have broken the $5 billion mark in on-chain transactions within the three-month…