dtcpay, a regulated digital payment service provider, has announced a significant change in its operations. From January 2025, the company will only support stablecoins for all of its payment services.
dtcpay Favors Stablecoins for Reliability
The company will stop supporting cryptocurrencies like Bitcoin and Ethereum by December 2024, citing their high volatility as the reason. Stablecoins, in contrast, are digital currencies tied to stable assets like the US dollar, providing a more stable option. dtcpay aims to create a smoother and more reliable payment experience for users by focusing on stablecoins. The company will support stablecoins such as First Digital USD and Worldwide USD, in addition to USDT and USDC. dtcpay will also continue supporting fiat currency transactions.
Wyoming to Launch its Stablecoin
Wyoming is advancing the next phase of its cryptocurrency sector by planning to launch a US dollar-pegged stablecoin named the Wyoming stable token. The stablecoin is set to launch officially in the first quarter of 2025. According to Wyoming Governor Mark Gordon, success for the state means adopting a stablecoin that is transparent, fully backed by short-term Treasuries, and dollar-dependent.
Paxos Introduces USDG Stablecoin in Singapore
Paxos, a leading blockchain entity, has introduced its new stablecoin, Global Dollar (USDG), in Singapore. USDG reflects Paxos's mission to combine secure compliance with innovative digital financial solutions. Paxos ensures the USDG reserves are managed effectively by partnering with Singapore's largest bank, DBS, to provide confidence in the stablecoin's reliability and security.
The growing focus on stablecoins in the fintech industry is reshaping the way cryptocurrencies are integrated into everyday financial transactions. With changes such as those announced by dtcpay, Wyoming, and Paxos, stablecoins are becoming key elements in the development of digital payments.
