The move makes Gibraltar-based Xapo the first fully licensed bank in the world to offer USDC on-and off-ramps as a fast, free, 24/7 alternative to the expensive and slow SWIFT system used for international payments.
Around $140 million worth of wrapped ether, stolen last year in a hack on the Wormhole token bridge, has been recovered using a counter-exploit on the Oasis.app vault in which it was being held. A UK court ordered Oasis to carry out the recovery action.
With the Swiss National Bank seeing no immediate need to develop its own retail CBDC, the Swiss Bankers Association has come up with an alternative blockchain-based stablecoin for use in digital asset transactions and DLT ecosystems.
Digital asset custody provider Copper has shelved its enterprise business, made staffing cuts, and ended its licensing agreement with global custody bank State Street in a move to streamline the company and focus on core product ClearLoop.
At a Subcommittee hearing of the House Committee on Financial Services last week, the USDF Consortium asked for a reduction in regulation on blockchain use by federally-insured banks, arguing that the technology should not be unfairly conflated with cryptocurrency.
Signature Bank has become the latest casualty of the current US banking crisis, having been closed down by regulators on Sunday to prevent a risk of instability spreading to the wider financial system.
Circle’s USDC stablecoin slipped from its dollar peg due to the collapse of tech start-up friendly Silicon Valley Bank, and not that of the far more crypto-entwined Silvergate Bank, which also announced that it was entering liquidation this week.
Following our report on the beleaguered US crypto banking sector, former banking partner of choice for many major crypto exchanges, Silvergate Bank, has announced that it will enter voluntary liquidation and wind down operations.
