• Dapps:16.23K
  • Blockchains:78
  • Active users:66.47M
  • 30d volume:$303.26B
  • 30d transactions:$879.24M
Banks Aim to Capture Stablecoin Market Share Post EURt's Closure by Tether

Banks Aim to Capture Stablecoin Market Share Post EURt's Closure by Tether

user avatar

by Giorgi Kostiuk

a year ago

Traditional banks are seeking opportunities in the stablecoin market following Tether's discontinuation of EURt.

What Happened to EURt

Tether Holdings announced in November the discontinuation of the EURt stablecoin in line with the new European regulatory MiCA guidelines. EURt struggled to find traction in the market, leading to its closure.

Emergence of New Players

Banks such as Societe Generale-Forge and Revolut are actively developing their own euro-denominated stablecoins after EURt's exit. The European MiCA regulation provides these companies and banks with clear guidelines for issuing their stablecoins.

We are actively engaged with a number of banks across the world at various stages of the process.Cuy Sheffield, Head of Crypto at Visa

Global Stablecoin Trends

Companies worldwide, including Visa, are also exploring stablecoin issuance opportunities. JPMorgan Chase is exploring deposit tokens as an alternative to stablecoins. Regulatory standards and reserve stability remain crucial factors.

Despite regulatory challenges, banks clearly see a promising niche in the stablecoin market, which drives them towards expansion in this direction.

0

Rewards

chest
chest
chest
chest

More rewards

Discover enhanced rewards on our social media.

chest

Other news

Solana Surpasses $8 Billion in Open Interest

chest

Solana's open interest has crossed the $8 billion mark, indicating increased trader activity and risk appetite.

user avatarDiego Alvarez

Binance Achieves Key Regulatory Milestone with ADGM Authorization

chest

Binance has achieved full authorization from the ADGM's Financial Services Regulatory Authority, enhancing its regulatory compliance and boosting investor confidence in the global crypto market.

user avatarElias Mukuru

Google's UCP Set to Enhance Consumer Experience with AI Integration

chest

Google is set to integrate the Universal Commerce Protocol (UCP) into its consumer-facing products, enhancing the shopping experience with AI-powered recommendations and direct checkout.

user avatarMaria Fernandez

Google's UCP Aims to Foster Competitive AI Commerce Landscape

chest

Google's Universal Commerce Protocol (UCP) aims to ensure interoperability among AI agent protocols, fostering a competitive ecosystem and helping retailers manage AI integrations effectively.

user avatarKenji Takahashi

Google Introduces Universal Commerce Protocol to Revolutionize Ecommerce

chest

Google has introduced the Universal Commerce Protocol (UCP), an open standard aimed at revolutionizing AI-driven shopping experiences.

user avatarGustavo Mendoza

Sei Network Warns Users Ahead of Major Transition

chest

The Sei Network is transitioning to an EVMonly chain in March, urging users to migrate their USDCn assets to avoid potential losses.

user avatarLuis Flores

Important disclaimer: The information presented on the Dapp.Expert portal is intended solely for informational purposes and does not constitute an investment recommendation or a guide to action in the field of cryptocurrencies. The Dapp.Expert team is not responsible for any potential losses or missed profits associated with the use of materials published on the site. Before making investment decisions in cryptocurrencies, we recommend consulting a qualified financial advisor.