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What are the recent developments of stablecoins?
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Stablecoin giant Tether is undergoing a strategic transformation. The company, known for issuing USDT, which is pegged to the U.S. dollar, is actively extending its tentacles into diversified areas beyond its core business. This move is not accidental, but a response to the limitations of the existing business model and intensified market competition.
new investment
In his article, Releasing on-chain interest is a win-win situation, Coinbase CEO Brian Armstrong proposed that the United States should amend stablecoin legislation to allow consumers to earn interest on their reserve assets, just like traditional bank accounts. The current legal framework has failed to keep pace with the times, artificially limiting the potential of stablecoins and causing losses to both ordinary people and the U.S. economy.
The UK Financial Conduct Authority said it will begin issuing formal licenses to crypto companies next year after fully consulting with the industry and formulating new rules. Hundreds of companies have previously tried to join the FCA's temporary crypto registration list but failed. The new regulatory mechanism will be stricter and more comprehensive.
Circle has released a developer SDK called USDCKit, which aims to simplify USDC payments on Circle Wallets, automate processes and enhance compliance. USDCKit reduces the complexity of integrating with traditional stablecoin payment infrastructure by providing pre-built intuitive tools, helping enterprises to scale USDC payments more efficiently.
ICE will explore the potential use of USDC and money market fund tokens USYC in derivatives exchanges, clearing houses and other businesses. This move is part of a larger trend of U.S. financial giants integrating digital assets, stablecoins and tokenization into their services amid an improving regulatory environment.
