US Bank calls the power to release stablecoins ‘lovely’ as crypto has completely lost its appeal
US Bancorp, doing business as (and better known as) US Bank, has begun testing its Stablecoin on the Blollar Blockchain. pilot, the latter is detailed Bloomberg to make a reportfocuses on using the token for fast and cheap Cross-Border payments while incorporating safeguards such as customer verification and refunds. Mike Villano, the bank’s senior president of digital asset products, points to Stellar’s suitability for traditional financial services as a key selling point for the bank.
While US Bancorp CEO Gunjan Kedia has the demand for Stablecoin payments from customers remained muted, these dollar-backed digital assets have emerged as Crypto’s Prime Minister in recent years, serving as a fundamental use case. Bitcoin’s role as a long-term store of value and gambling on Multi-combined casino sessions.
And in Crypto networks like Edereum that focus on decentralized currencies (Defi), STALECECOIN VOLUE drives the majority of financial activity and user adoption. In fact, these blockchains rely so much on this centrally issued dollar token that they question the real difference between the new blockchain technology and traditional fintech, in addition to the fact that the defi may be separated only in words.
Defi Skeptics have long warned against offering stablecoins as a shortcut to user adoption, the current reliance on firech like blockchains for cheap speed and ease of use peer-to-peer financial sovereignty.
And this convergence between Crypto, Fintech, financial services companies, and traditional banks with stablecoins is accelerating.
Here are just a few of the endless examples of this situation: Klarna just became the first Fintech to issue a Stablecoin, klarnausd, at the stripe’s tempo. MoneyGram expands its use of stablecoins for financing after rapid technology testing, According to the founder of Crossmint Counder Rodrigo Fernández touza. Revolut issues revenue-generating, fiat-to-stablecoin swablecops for 65 million users a few weeks ago. Deel’s new head of crypto announced A new crypto verical of the payroll provider a few days ago. Citi and JPMorgan Chase Both have stablecoin related relationships with Coinbase.
This startup shows how tech comes from eclusing for for ansekerts, not a real disruption. One line from Bloomberg The report on the interest of US BANCORP’s Stablecoin should cut deeply the veterans of bitcoins: villano called the ability to promote assets in stellar “mostly.”
This regulatory mechanism directly fulfills Satoshi Nakamoto’s BITCOIN vision of a trusted, anti-blockbuster currency by prioritizing user sovereignty. On a related note, Circle CEO Jeremy Allaire also drew ridicule last week to put “Circle ♥ ️ Banks.”
The growing development between cyperpunks and those who build banking technology boiled in October there Ethereum foundation researcher Founday Dankrad jumped on Tempoprompting accusations that the space is drifting too far from the allocation of friendly infrastructure.
The Stablecoin Phenomenon shines again Crypto political enthusiasm from the Trump administration. From Washington’s point of view, stablecoins can be used to extend the global hegemony of the dollar, As believed in the Cenius Act signed by President Trump in July.
However, in recent weeks, the founders of Bitcoin I-Wallet Revelional Samourai Wallet have been sentenced to many years for money laundering. Jail time Samurai Wallet Developers have been given a particular problem Compared to the pardon of the former CEO of Crypto Exchange Minance was received for similar cases.
Crypto is clearly missing a structure right now, assuming it ever had one.
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