Stably announced the launch of the world's first U.S. Dollar-backed stablecoin on the Bitcoin network.
The latest BRC-20 token though, could prove to be a game changer for the Ordinals landscape and, consequently the Bitcoin network.Stablecoin-as-a-Service provider Stably announced the launch of Stably USD, the first USD-backed stablecoin on the Bitcoin blockchain.
Basically, the BRC-20 token aims to become the preferred mode of payment for traders transacting Ordinals and other BRC-20 assets. It is denoted by the sign #USD. By facilitating low-friction on-ramping/off-ramping services and retaining a stable value, #USD has the potential to make trading smooth and easier.
Every #USD token is backed 1:1 by USD kept in a collateral account. The account is managed by a U.S.-regulated custodian for the benefit of KYC/AML-verified token holders. #USD can be issued/redeemed via multiple platforms like Fedwire, SWIFT, USDC, and USDT by KYC-verified users across 200+ countries/regions.Ordinals refuse to lose steam, the total number of Ordinals inscriptions went beyond 9 million at the time of writing, with a staggering 6.5 million, or about 70% of them, getting minted in May.dashboard highlighted that out of the total fees collected by miners in the last 24 hours, Ordinals trading accounted for 30%.
Philippines Latest News, Philippines Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Battle in safe haven: USD/CHF currency pair forecastKitco News' contributed commentary features articles and opinions from some of the top experts in the gold industry.
Read more »
Bitcoin May 24 daily chart alert - Bulls, bears battle for near-term technical control
Read more »
Bitcoin: This pattern might dictate who controls BTCBitcoin will likely experience a breakdown from the current level, according to a recent analysis.
Read more »
Crypto prices dip, Bitcoin slides to $26,500 amid debt ceiling stalemateAsset prices continued to face selling pressure on Wednesday as the likelihood of a U.S. debt default increases with each passing day that debt negotiations remain gridlocked.
Read more »
Extreme dollar strength and 1 month T-Bills yielding 5.59% move gold lowerExclusive to Kitco News, technical analyst Gary Wagner provides a daily recap of what happened in the gold market, highlighting important events that captured investors' attention during the U.S. trading session. Wagner's commentary features a mix of fundamental news and technical analysis, noting important support and resistance levels.
Read more »
The chop continues as cryptos trade sideways, Bitcoin holds $26,500It was another day of sideways price action in the cryptocurrency market on Thursday with Bitcoin holding support at $26,500 as the debt ceiling talks continue.
Read more »