Circle will launch a stablecoin pegged to the Japanese yen
The new asset aims to meet demand from users in the Asian region
16.11.2021 - 07:30
660
1 min
0
What’s new? Circle, the issuer of the popular USDC stablecoin, has announced plans to release a new asset. It's about a stable cryptocurrency pegged to the Japanese yen, Bloomberg reports.
News source on the agency's website
What is the main purpose of the launching? Circle CEO Jeremy Allaire believes that stablecoins will be in demand in the loan and lending markets. With this asset, customers will be able to hedge risks and protect funds against inflation.
“Many people want to hedge risks by buying bitcoin directly, but for corporate asset managers and corporate treasurers, it looks more interesting to add stabelcoins to the portfolio,” Allaire believes.
To implement these plans, Circle plans to open an office in Singapore and obtain a license from the local regulator to issue and operate the new stablecoin in the city-state.
Useful material?
Telegram 
Twitter Market
Earlier, the community criticized the project for its lack of transparency, which led to a sharp drop in the HYPE token price
Jan 8, 2025
Market
Rising US Treasury bond yields are negatively affecting risk assets
Jan 8, 2025
Mining
The Avalon Mini 3 is available for pre-order at $899
Jan 8, 2025
Market
The exchange obtained the documents as part of the Freedom of Information Act proceeding
Jan 6, 2025
Market
According to the preliminary plan, the free coin giveaway will take place in January 2025
Dec 27, 2024
Market
The fund’s issuer will be Donald Trump associate Vivek Ramaswamy’s Strive company
Dec 27, 2024
Cryptocurrency rates
-
Bitcoin
$94 439
BTC
+1.03%
-
Ethereum
$3 249.19
ETH
+0.1%
-
Ripple
$2.35
XRP
+2.97%
-
BNB Smart Chain
$579.4
BSC
+1.23%
-
Dogecoin
$0.333997
DOGE
+2.35%
-
Cardano
$0.924185
ADA
+0.37%
-
Stellar XLM
$0.412029
XLM
+3.98%
-
Polkadot
$6.7
DOT
+1.11%
-
Bitcoin Cash
$443.29
BCH
+4.4%
-
Litecoin
$103.43
LTC
-0.4%