Tether just updated its website to clarify that each of its USDT stablecoin tokens, which it used to claim were “always backed 1-to-1 with traditional currency,” are backed by assets other than fiat currency.
The fund injection will be used to expand the startup's operations including its Chainalysis Know-Your-Transaction (KYT) tool which allows more than 100 crypto exchanges and financial institutions to vet their clients.
Crypto Garage, Blockstream's latest joint venture with Japanese fintech blue chip Digital Garage, will introduce a Japanese yen stablecoin to Japanese markets on Liquid's SETTLENET product suite.
Blockchain Payroll Platform WorkChain.io has partnered with tokenization platform STASIS to enable euro-backed crypto paychecks for its European Union (EU) users with the EURS stablecoin.
Major cryptocurrency exchange Binance has added Paxos Standard (PAX) as a base currency on its platform, meaning the stablecoin can be coupled with other digital assets listed on the platform.
Bitcoin payment platform BitPay is now going to allow payments with the Paxos Standard token (PAX), which it calls “the fastest growing stablecoin and the highest trading volume of any U.S. dollar-backed stablecoin.”
The Grant Thornton write-up states that the “examination was conducted in accordance with attestation standards established by the American Institute of Certified Public Accountants.”
