May 26, 7:48 pm
|Fed Vice-Chair Presses for CBDC in US Amidst Market Stress|
In a testimony before the Committee on Financial Services, Brainard called for 'clear regulatory guardrails' to provide consumer and investor protection, uphold financial stability, and ensure a level playing field for competition and innovation across the financial system amidst the turmoil in the crypto market.
Call for a Digital Dollar
In the wake of recent events with the algorithmic stablecoin TerraUSD reducing to a few cents and Tether briefly de-pegging, the Vice-Chair said that a CBDC could establish financial system stability.
Brainard argued that a widely available CBDC could act as a substitute for commercial bank money. She added that this could potentially reduce the aggregate amount of deposits in the banking system. The economist also noted that a digital dollar would be attractive to risk-averse users during adverse market conditions.
With CBDCs becoming popular across different parts of the world, Brainard underscored the importance of understanding the impact of the potential absence or presence of a US CBDC on the use of the dollar in global payments. She added,
'..It is important for the United States to play a lead role in the development of standards gove...
May 26, 6:30 pm
|Tether Launches Tokens Pegged to the Mexican Peso on Ethereum, Tron, and...|
The stablecoin issuer Tether Operations Limited has announced the company has launched a new fiat-pegged token tied to the value of the Mexican peso. According to the team the newly launched MXNT tokens will be initially hosted on Ethereum, Polygon, and Tron.MXNT Stablecoin Is Pegged 1:1 to the Mexican Peso
The stablecoin and blockchain firm Tether...
May 26, 4:18 pm
|Polygon-built prediction market protocol SX Network integrates Celer cBr...|
SX Network, a prediction market protocol built on Polygon, today announced the implementation of the Celer cBridge on SX Network. Users can now bridge tokens into SX Network through cBridge.
Celer enables the seamless bridging of assets between EVM-compatible blockchains and ERC-20 tokens. Users will be able to bridge USDC, WETH, DAI, USDT, WBTC, a...
May 26, 11:57 am
|Tether Launches Mexican Peso-Backed Stablecoin on Ethereum, Tron, Polygo...|
Tether announced the launch of a new type of a stablecoin, backed by Mexico’s national currency. Initially, MXNT will be available on three main blockchains – Ethereum, Tron, and Polygon.
The press release dated May 26 informed that the new stablecoin will join Tether’s growing product line, which now consists of four fiat curren...