Tag: stablecoin
Afriex raises $1.2M seed to scale its payments and remittances platform across Africa
Sending money from the U.S. to Nigeria can be a painstaking process. For remittance platforms like Western Union, it will cost a transfer fee and take between one to five business days for money sent from a U.S. debit card to enter a Nigerian bank account. Crypto remittance platforms are…
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New York licenses GMO Internet to issue the first JPY-pegged stablecoin
The New York Department of Financial Services (NYDFS) has approved Tokyo-based GMO Internet to launch GYEN, the first stablecoin pegged to the Japanese yen. GMO Internet, an internet conglomerate that offers a large array of services, including domain hosting, online advertising and what it claims is the world’s largest foreign…
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Facebook-backed association revamps Libra following regulatory concerns
The Libra Association, the consortium created by Facebook to oversee all things Libra, has updated its white paper to make some changes. The association is abandoning its original plan to create a global stablecoin directly tied to a basket of fiat currencies and securities. The Libra Association now plans to…
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Libra rival Celo launches 50-member Alliance For Prosperity
Some Libra Association members like Andreessen Horowitz and Coinbase are double-dipping, backing a competing cryptocurrency developer platform. Launching today with over 50 partners, non-profit The Celo Foundation’s ‘Alliance For Prosperity’ offers a way for developers to build decentralized mobile apps that are based on Celo’s blockchain platform and USD stablecoin.…
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