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.

USDC depeged from USD after US Silicon Valley Bank collapsed. Exchanges paused their conversion as users rushed into other assets. Now the stablecoin has got back to 1:1 ration, but what’s done is done…

After Saturday saw the value of the USDC fall, trust in the stablecoin Tether (USDT) increased, driving its growth.

The collapse of Silicon Valley Bank (SVB) affected, among others, the USDC’s reserves and this “blue-chip” stablecoin has lost its peg to the dollar. Ironically, the only decentralized unicorn stablecoin project, MakerDAO is now in trouble due to its “reinforcing” USDC-backed component.

Paxos will increase the share of its USDP stablecoin in Maker's DAI Peg Stability Module (PSM). To facilitate this Paxos will transfer MakerDAO 45% of the income it gets from its own reserves on the deposited coins.

Circle has created a protocol that replaces cross-chain bridges - CCTP. The launch is planned in the middle of the first quarter of 2023 on Ethereum and Avalanche.

SPAC Concord, chaired by former Barclays CEO Bob Diamond, has canceled USDC's Circle acquisition deal worth USD9 billion.

Circle, which owns one of the most popular stablecoins – USDC, has made changes to its financial forecasts due to the automatic conversion of USDC into BUSD stablecoin and the risks after the collapse of FTX, outlining them in a new document for the Securities and Exchange Commission.