Author: NBTC

ZARsc, a Rand-pegged stablecoin, has officially launched on the Solana blockchain. This new stablecoin, issued by the FSCA-licensed provider Supercoinxyz, aims to enhance DeFi offerings on Solana. The launch could attract more users to the platform, increasing demand for SOL tokens and related services. More details can be found in the official announcement. Breaking It Down The announcement of ZARsc’s launch has generated significant buzz within the Solana community, highlighting the platform’s commitment to expanding its DeFi ecosystem. With increasing interest in stablecoins, ZARsc’s introduction is timely as it provides an alternative for users looking to engage in DeFi activities…

Ethereum Institutional signaled support for Ethlabs’ motion to reduce block times and create a faster Ethereum to address increasing competition from other networks. “Make Ethereum faster,” wrote the non-profit organization in a Friday X post, arguing that reducing block times is needed as “more institutional activity moves onchain.” On Thursday, Ethlabs published an article quoting 20 decentralized finance (DeFi) founders showing broad support for EIP-8198, also known as “Quick Slots,” which seeks to initially reduce Ethereum block times to 10 seconds from 12 seconds. Other blockchain networks are also working on similar block time reduction initiatives. On Monday, the majority…

Stablecoin compliance could determine which issuers win institutional adoption as new US accounting and regulatory rules raise standards for redemption, reserves and risk controls, according to Aquanow CEO Phil Sham. The Financial Accounting Standards Board issued a proposal on Aug. 18 that would clarify how the existing definition of cash equivalents applies to certain digital assets, including some stablecoins. The proposal does not classify every stablecoin as cash. Instead, it focuses on qualifying assets with characteristics such as price stability, liquid reserves, and contractual rights allowing holders to redeem directly with the issuer for cash on demand. FASB’s proposal arrived…

A Four-Year Timeline for the Whole Internet Cheng’s prediction is a sweeping one, i.e. within four years the volume of digital payments moving across Sui will rival the volume moving across the traditional internet’s card networks and bank rails combined. It is the kind of claim that invites skepticism on its face, especially from an L1 still trading at a fraction above 60 cents per token. But Cheng has made a habit of putting forth Sui’s roadmap in infrastructure terms rather than trading terms, telling reporters earlier this year that current web3 infrastructure is still stuck in what he called…

A New York federal judge has denied Susquehanna’s bid to freeze nearly $100 million tied to dozens of traders accused of profiting from alleged insider information before China announced a crackdown on cross border trading platforms. According to a Sept. 14 opinion and order from the U.S. District Court for the Southern District of New York, Judge Arun Subramanian found that Susquehanna Securities and Susquehanna Investment Group had not shown they were likely to suffer irreparable harm without a preliminary injunction. Susquehanna filed the lawsuit on June 29 against 100 unnamed defendants, alleging violations of Section 20A of the Securities…

Celo has added support for local currency payments for AI agents through its native x402 facilitator. The update allows agents on the network to use Ripio’s wARS, wBRL and wCOP tokens for payments in Argentine pesos, Brazilian reais, and Colombian pesos. Celo Core Co., the team developing the Celo blockchain, launched the native x402 facilitator on July 16. The company says the new support can help agents make payments without converting local currencies into dollar-based stablecoins. The change is aimed at reducing foreign exchange exposure for users who allow AI agents to make transactions on their behalf. Agents can operate…

Cosmos has unveiled its Partner Network, which unites 17 organizations aiming to accelerate digital asset initiatives for financial institutions. This move, highlighted in a tweet by @cosmos, signifies a strategic collaboration that could reshape the landscape of financial services. The implications of this partnership could extend beyond mere innovation, potentially influencing adoption rates in the financial sector. What Went Down The announcement of the Cosmos Partner Network comes at a time when the broader crypto market displays mixed signals and varying momentum. While there is no immediate price movement to report, the focus on digital assets is becoming increasingly critical…

Tron’s stablecoin market cap has surged by $4.8 billion over the past 90 days, outpacing the combined growth of the other nine chains in the top ten. This substantial increase highlights the platform’s growing popularity in decentralized finance (DeFi). As reported by crypto commentator @tokenterminal, this trend could indicate a shift in user preference toward Tron amidst a fluctuating broader market. The Story So Far The broader cryptocurrency market continues to exhibit mixed signals, yet Tron stands out with its impressive stablecoin growth. The $4.8 billion increase in market cap is significant, especially when compared to the relatively stagnant performance…

Ethereum is showing a strange split right now. Per Santiment data, on the Ethereum chain $USDT has lost 251,350 non-empty wallets over 11 days, marking its steepest short-window decline since the post-FTX market upheaval in December 2022. At the same time, Ethereum fees have fallen to just $0.095 per transfer. $USDT Wallets Are Shrinking Fast The 251,350-wallet contraction is an unusual break from $USDT’s historical base expansion. It doesn’t automatically mean capital has left crypto altogether, though. Smaller holders could be consolidating balances, shifting funds to Layer-2 networks, moving into USDC, or sending assets back to centralized exchanges. Still, the…

Private company shares still trade through bilateral, paper-heavy processes that keep most investors out of venture-backed growth. Citi is now applying the depositary receipt model, long used to give investors access to foreign public equities, to that opaque market with a new Digital Depositary Receipt (DDR) product, according to an Aug. 25 announcement from Caplight, the pricing platform the bank selected for the offering. How the DDR works Caplight said the DDR product tokenizes private company shares for eligible investors, with Citi’s first receipt representing shares in Kaleido, Inc. The bank described itself as the first major institution to extend…