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MakerDAO Keeps USDC as Primary Collateral for Dai

blockchain.news

MakerDAO has voted to keep USDC as the primary collateral for Dai, rejecting a proposal to diversify into GUSD and USDP. The decision was made based on reduced risks from a cascading bank run in the US and USDC's return to a $1 peg.

Read in Full: blockchain.news
Bitcoin MKR
$ 3632
Bitcoin USDC
$ 0.9998

Timeline of Multi-collateral-dai, Maker, Usd-coin


Mastercard Enables USDC Spending in Asia - Blockchain News

Mastercard has partnered with Stables to allow retail customers in the Asia-Pacific region to spend and save USDC through its network. Meanwhile, worldwide banking turmoil has not slowed the blending of traditional and decentralized finance (DeFi).


Breaking: USDC Issuer Circle CEO Flags Risk Of USD Exposed To US Banks - Coingape

Crypto News: Jeremy Allaire, Co-founder and CEO of Circle on Thursday, flagged off risk building around USD after the Silicon Valley Bank and other banks collapsed. This comes after Circle's $3.3 billion of funds exposed to SVB were shifted out.


Xapo Bank and Circle Partner to Integrate USDC Stablecoin - Cryptopolitan

Xapo Bank, a licensed private bank and Bitcoin custodian has partnered with financial technology company Circle to integrate USD Coin (USDC) payment rails as an alternative to the traditional SWIFT payment system. This partnership allows Xapo Bank members to deposit and withdraw funds using the stablecoin without fees.


Xapo Bank Now Allows Stablecoin USDC Deposits and Withdrawals - CrowdFundInsider

Xapo Bank says it is the first regulated bank to accept USDC deposits and withdrawals. Issued by Circle, USDC is the second largest stablecoin by market cap, pegged to the US dollar.


USDC issuer Circle seeks regulatory approval in France amid US banking troubles - CryptoSlate

USD Coin (USDC) issuer Circle has applied to become a licensed Electronic Money Institution and a registered Digital Asset Service Provider (DASP) in France — expanding its operations in Europe.


Circle Eyes French E-Money License, Names Paris As Centerstage For European Expansion - EWN

Stablecoin issuer Circle plans to set up shop in Paris and expand into other European markets from the French capital.The crypto payments company also applied for an e-money service provider license as part of its growth strategy in Europe.CEO Jeremy Allaire added that the USDC issuer is working to align its Euro-backed stablecoin with the landmark MiCA bill. Crypto payments company Circle applied for an e-money license from regulators in France as the USDC stablecoin issuer moves to expand its presence across European markets, Bloomberg reported on Tuesday.


USDC issuer Circle offered $3 billion emergency backstop from Coinbase - AMBCrypto

A multi-billion dollar emergency credit facility from American crypto exchange Coinbase to Circle Internet Financial recently came to light. The credit line was reportedly offered to the USDC issuer last week after the collapse of Silicon Valley Bank.


Coinbase offered Circle $3b credit line to repeg USDC - Crypto news

Crypto exchange Coinbase reportedly offered a $3 billion credit line to Circle, the crypto company that issues the USD Coin (USDC) stablecoin, in an effort to bring the stablecoin back to its $1 peg.


MakerDAO's emergency proposal triggers 26% MKR price plunge - Crypto news

The Maker (MKR) token dropped 26% in value within a week following the news of an emergency proposal to address the DeFi protocol's $3.1 billion USDC exposure, raising concerns among investors and stakeholders.


DAI supply has fallen by 13% this week - CryptoSlate

In the past week, MakerDAO has experienced a drop in total value locked (TVL), the supply of DAI, and annualized fee income, signaling some potential trouble for one of the world's largest stablecoin issuers.

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