Fed guarantees 2-day stablecoin payouts, but $76B remains blocked
The Federal Reserve’s stablecoin proposal would put a general two-business-day limit on redemption by issuers it supervises. For a customer holding stablecoins at an exchange, the first step is getting that venue to release or convert the balance.…
Circle launches 24/7 stablecoin FX engine as it chases a slice of the $10 trillion currency market
Circle has switched on 24-hour stablecoin foreign-exchange settlement on Arc, targeting a global FX market that moves nearly $10 trillion daily. The service, called StableFX, allows screened businesses to request competing quotes from multiple liquidity…
Circle opens Arc mainnet as it seeks an edge for USDC utility
Circle has scheduled the public launch of Arc for Sept. 16, giving USDC a network where the same dollar balance can fund both payments and transaction fees. That could remove a common obstacle to using stablecoins, giving Circle a possible way to attract…
Circle’s Arc launch ties Wall Street firms to the network without making them its safety net
Circle is tying major financial institutions to its Arc blockchain as operators, investors, and future users ahead of its Sept. 16 mainnet launch. BlackRock, DTCC, Visa, Mastercard, and ICE are among 11 outside institutions Circle named as founding…
USDC may be only as quantum-safe as its slowest wallet, bridge or blockchain
Circle issued a warning that the quantum circuits needed to attack widely used blockchain signatures are becoming leaner, citing a low-width record of 813 logical qubits. For the USDC quantum migration, the immediate consequence is a dependency problem…
The next currency crisis may be harder to contain because of stablecoins, New York Fed report shows
A New York Federal Reserve study found that dollar stablecoins are more likely to flow into wallets tied to countries experiencing currency or banking crises. Wallets linked to countries experiencing some form of financial crisis were 1.8% more likely to…