Oobit, a Tether-backed payments app, has integrated Brazil's Pix instant payment system, allowing users to deposit Brazilian reais, hold USDT stablecoins, and make payments through Pix. This integration connects stablecoin balances to a widely used payment network with nearly 170 million users, enhancing local usability without changing existing payment habits. The move comes amid Brazil tightening crypto payment regulations while stablecoin demand grows, positioning Oobit as a key player in Brazil's expanding digital dollar market. Oobit previously raised $25 million in funding led by Tether, aiming to increase crypto adoption through familiar payment infrastructure.
European central banks, including the ECB, want to remove MiCA's rule requiring stablecoin issuers to hold large bank deposits, citing risks if many customers withdraw funds simultaneously. This aligns with past concerns raised by Tether's CEO about ...
Tether's CEO Paolo Ardoino revealed the company refused to seek EU MiCA authorization because the regulation requires major stablecoin issuers to hold at least 60% of their reserves in commercial bank deposits. Ardoino argues this concentration incre...
The European Central Bank and EU national central banks recommend changing MiCA's fixed 30% and 60% bank deposit reserve requirements for stablecoins to liquidity-based rules focused on asset maturity. They warn that current rules could cause stress ...
Anchorage Digital has chosen LayerZero as its preferred partner to provide interoperability for stablecoins issued through its federally chartered bank. The first token to use LayerZero's Omnichain Fungible Token (OFT) standard is Tether's USAT, enab...
In Venezuela, scammers are exploiting the widespread use of USDT stablecoins by sending fake USDT tokens with zero value to merchants during checkout. These counterfeit tokens mimic real USDT contracts and appear valid in self-custody wallets, tricki...
