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Ripple Minted 99% of Its RLUSD Stablecoin Total Supply in a Day
At the end of September, Ripple got a major update related to its Ripple USD (RLUSD) stablecoin. The blockchain payments company minted 800,000 RLUSD, or 99% of the total supply in 24 hours, according to an X post by XRP Ledger validator Vet.
Circle Readies for Battle Against Traditional Players
Facing increased competition from conventional financial giants like PayPal Holdings Inc., Circle is taking strategic measures.
To counter this threat and counterbalance the diminishing market share of its USD Coin stablecoin, Circle is expecting leveraging a substantial cash reserve surpassing $1 billion.
The circulating supply of Circle’s USD Coin has experienced a decline, shrinking from $45 billion to around $26 billion since the start of this year. 
World Liberty Financial Set to Release a New Stablecoin
World Liberty Financial, the project championed by Donald Trump’s sons and fueled by a recent $14 million private investment, is moving closer to releasing its USD-pegged stablecoin. According to Decrypt, the team is now focused on solidifying the technical backbone for the new coin.UK Welcomes Crypto-Focused Xapo Bank
Xapo Bank, a crypto-focused financial institution, received a license in the UK and officially launched interest-bearing accounts in USD and BTC. The Bitcoin account offers an annual interest rate of 1% paid directly in BTC, without the need to lock funds or lend to other users. 
Widespread adoption of PayPal's stablecoin may take time
Despite advances in payment effectiveness and customer care, analysts Alkesh Shah and Andrew Moss from Bank of America think that PayPal USD (PYUSD) won't be widely adopted anytime soon.
They wrote, "Over the longer term, we expect PYUSD to experience additional adoption headwinds as competition from central bank digital currencies (CBDCs) and yield-bearing stablecoins increases." Stably Unveils BRC-20 Stablecoin
Crypto startup Stably has unveiled Stably USD, a dollar-backed stablecoin aimed at transforming trading within Bitcoin’s thriving on-chain economy. The company asserts that its stablecoin offers a more cost-effective and efficient trading experience compared to fiat or Bitcoin itself. Avalanche and Visa Team Up to Launch Crypto Card
On October 21, 2024, the Avalanche L1 blockchain team announced the launch of their crypto card in collaboration with Visa. This card allows users to pay for virtually any goods and services using cryptocurrencies like WAVAX (Wrapped AVAX), USDC (USD Coin), sAVAX (Staked AVAX), and several others.The End of Coinbase's Era? Exchange Loses Ground in the U.S.
A recent report from Kaiko reveals that Crypto․com has become the market leader in the U.S. for platforms supporting USD transactions. With over 50% of market share in weekly trading volume, the platform has outpaced Coinbase nearly three times over. 
Mark Karpeles: "All I Had Was a Simple Calculator!"
The former MT. Gox CEO shared a remarkable story. After his 2015 arrest, he faced a daunting task: sifting through 20,000 pages of evidence using just a basic accounting calculator he bought for $120 from the prison commissary. "I'd spend the next couple of months going through the accounting information provided by the prosecution, and managed to find some 5.5 million USD worth of revenue that wasn't accounted for. Suddenly, the argument raised by the prosecution didn't make sense," commented Mark Karpeles. This simple calculator changed the game. After nearly a year in custody, he was granted bail and, two years later, fully cleared of charges. Liquity USD (LUSD): A DeFi Stablecoin Review
Liquity USD, or LUSD, is a stablecoin that maintains a 1:1 peg with the US dollar. It's used by the Liquity lending protocol as the primary asset for issuing loans backed by Ethereum (ETH). When LUSD is repaid, the loan is resolved, and the ETH collateral is returned to the owner at its nominal value. PayPal is rolling out its own stablecoin
Partnering with Paxos Trust, financial giant PayPal has unveiled PayPal USD (PYUSD), focusing on swift and budget-friendly payments.
With backing from dollar deposits, short-term government securities, and similar cash equivalents, PayPal's CEO, Dan Schulman, envisions the stablecoin bolstering the company's foothold in the digital currency space:
"The vision over time is that this becomes a part of the overall payments infrastructure."