Weekly Stablecoin Roundup: October 4th, 2018

Our fourth Stablecoin story roundup. Follow our blog and check out our social media to stay updated. Thanks!

Crypto Stability: Tether And The Rest

What’s next?

Writer: The Freedonia Cooperative

Summary:

Tether, the largest stablecoin (by market cap) holds the crown at the moment. They won’t hold the spotlight for long though. So far there have been nearly five dozen (57) stablecoin projects this year that have already been released or are in the pre-launch phase. Time will tell which ones are here for the long run.

a16z Puts $15 Million Behind Stablecoin Platform MakerDAO

Dollar Coins

Writer: Amy Castor

Summary:

Andreessen Horowitz’s a16z crypto fund has recently announced that they invested $15 million into MakerDAO’s stablecoin platform. Their $15 million dollar investment gives them a 6% stake in MakerDAO. This investment just might lead the way for other institutional investors considering an entrance into this space. Why a16z chose MakerDAO is still up for debate. May the best stablecoin win!

Crypto exchange BitInka adds first stablecoin with TrueUSD support

South AmericaWriter: Crypto Ninjas

Summary:

A South American crypto exchange, BitInka, adds its first stablecoin (TrueUSD). The addition of TrueUSD stablecoin to their exchange shows a commitment to “improving customers’ access to the cryptocurrency market.” Traders on BitInka can now purchase TrueUSD using the following currencies: Colombian pesos, Chilean pesos, Argentine pesos, New soles, Brazilian reals, bolivars, U.S. dollars, Euro, and Yuan, as well as through the TUSD/BTC pairing.

Two Explanations For Venture Capital’s Inexplicable Interest In Stablecoins

Venture Capitalist

Writer: Steven Ehrlich

Summary:

Venture capitalists are more savvy and knowledgeable about investing in ideas and startups than most of us could ever wish to be. The successful ones have a knack for it. They can see into the future and have a clearer vision of how things will turn out. The notion that so many VC’s are interested in Stablecoins is a great sign for the use-ability and need for these new assets.

Circle Launches USD-Backed Stablecoin

USD

Writer: Sarah Hansen

Summary: Circle, which is a Goldman Sachs-backed crypto-tech company has launched their own stablecoin. It is collateralized and pegged to the USD 1:1, as with many others. Their stablecoin will be available on Poloniex and CirceTrade, which are two of their own exchanges.

Stablecoins are Here to Stay, Research Report Shows

Stability and Longevity

Writer: Christine Masters

Summary:

With the steep downturn seen in the crypto markets as of late, Stablecoins just might serve as a catalyst for increased market stability and growth. According to a recent report published by Blockchain.com, a total of 57 stablecoin projects have either launched or are in the process of launching. This doesn’t mean that they will all be successful but it is a sure sign that this space has begun to mature somewhat and accelerate it’s rate of new entries.

Blockchain’s Report Examines Benefits (and Failures) of Today’s Stablecoin

Network of Computers

Writer: Nick Marinoff

Summary:

There has been a lot of hype about stablecoins lately. Among investors, news outlets and evangelists. The Winklevoss Twins, Paxos and The London Block Exchange are some of the new kids on the block when it comes to stablecoins. The issue with stablecoins doesn’t seem so much to be an issue of viable use cases, but rather of a slow adoption rate. The concept of stablecoins is new to many people and might take some extra time to get the gist of them.

A UK startup is planning to develop a ‘crypto pound’ as the sector goes crazy for ‘stablecoins’

British Money

Writer: Oscar Williams-Grut

Summary:

We have yet another entrant into the Stablecoin race. The London Block Exchange is planning to develop and launch its own stablecoin (LBXPeg). Their stablecoin will be collateralized and pegged to the British Pound 1:1. They aim for transparency and will have regular audits like many of the other projects. They also claim to be one of the first stablecoins that is pegged to the British Pound (GBP).

Binance Will List PAX/BNB Stablecoin Trading Pair as an Alternative to Tether

Trading

Writer: CRAIG RUSSO

Summary:

Binance, one of the world’s largest crypto-exchanges, has announced that they will list the PAX/BNB trading pair. This pair will serve as an alternative for those who look to get away from Tether. Many investors and speculators are skeptical of Tether and whether or not they have the full reserve of corresponding dollars to each Tether coin. The PAX stablecoin, along with many other US-centric stablecoins, will be fully collateralized 1:1 by USD. The company behind the PAX-stablecoin is Paxos Trust Company, which is based in New York.

-E.S.