Amid assurances that there would not be a “bailout” of the banks, the U.S. federal government swiftly stepped in to guarantee all deposits for both SVB and Signature depositors, adding confidence and sparking a small rally in the crypto markets. By helping the banks perform on their contracts and making depositors whole, a Lehman-type situation was averted and market confidence was at least somewhat restored. If you select to pay by card, we will direct you to our partner, MoonPay. Choose the currency you would like to purchase, the amount as either a specific amount of crypto (e.g. 0.2 BTC) or a specific fiat amount (e.g. 500 EUR worth of BTC) and whether you want to pay by debit or credit card. You will then be shown the current market price of the token, how much you will receive, any fees you will be paying (make sure to click on “view fees” to see these), and the total cost to you.
Key takeaways from Latin America’s first major stablecoins conference
The past few decades of innovation have transformed the way we use money to make payments and more recent technological developments are likely to transform this even further. This creates exciting new opportunities both for those that innovate and those that will benefit from new financial products. However, to ensure that innovation is safe and supports, rather than poses a risk to, economic activity, it is important that both new and existing financial activities are regulated appropriately. The Bank of England has new powers to regulate systemic payment systems using stablecoins and related service providers. Currently, using crypto as a means of payment is very limited – they’re accepted by certain IT and travel companies, for example, but you probably won’t be doing your weekly shop or paying your 5-a-side football subs with crypto. The reason for this is that cryptoassets tend to be very volatile, so it’s hard to pinpoint their value from one day to the next, which makes them unreliable as a payment method.
This is a necessary requirement for money that is used widely as a means of payment in the economy and is fundamental to financial and economic stability. Some parts of a systemic stablecoin payment chain will be subject to subsidiarisation requirements, to ensure capital and liquidity are held locally to support coinholders’ claims and that services provided in the UK are adequately supervised and regulated. The Bank’s proposed regulatory regime is designed for systemic payment systems using stablecoins for retail payments.
New regulatory requirements
If that all looks good, enter your card details and confirm the transaction. For bank transfer, select the currency you wish to deposit, and we will display your AQRU account details. Simply copy these details to your personal bank account and make a SEPA or FPS transfer. Cryptocurrencies have the potential to revolutionise the way we interact with the USDT APY digital world. By providing a simple and convenient way to buy and sell cryptocurrencies, AQRU Exchange makes it easier for people to access the benefits of this exciting, cutting-edge technology.
- Some stablecoins may be structured in such a way that they are backed by a combination of cash-like funds – including client deposits – and “high-quality liquid assets” (HQLAs).
- As we take stock of this latest crisis, we unpack some of the implications for the U.S. digital economy.
- It is also one of the most traded cryptocurrencies by volume, having pioneered the ‘digital dollar‘ concept.
- As such, they would need to be prepared to meet the regulatory standards proposed in this paper.
Each futures contract has an expiration date, which dictates the deadlines both parties have until they can buy and sell their respective positions at a prearranged price. Exchanges also allow clients to rollover their contract to another one, with a new expiry period which has a deadline reserved for a further date. If an individual does neither and the contract expires, it is settled automatically. Although this publication will focus on the tokens pegged to the US dollar, we should note that in addition to USDT, tokens pegged to the euro (EURt) and other fiat currencies are also offered by Tether Limited. This type of loan is getting more and more popular with crypto fans in the UK.
We protect your assets using innovative wallet technology and insure deposits to decentralised exchanges against hacking. In today’s issue, find out more about the best stablecoin lending platforms and their potential returns. In comparison to stock dividends, yield represents the returns on stablecoin investments.