Monat: September 2024

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Circle enables USDC transfers in Brazil and Mexico

  • Circle announces support for USDC in Brazil and Mexico.
  • The company has integrated local payment systems PIX and SPEI to enable local bank transfers with USDC.

Stablecoin issuer Circle has announced that its USDC is now available in Brazil and Mexico, with users in the two countries now able to access the stablecoin via local bank transfers.

Circle said in a Sept. 17 announcement that it had integrated top banks in Brazil and Mexico to allow for “national, real-time payment systems” with USDC. Specifically, Circle now supports integration with PIX and SPEI, the national payment systems for Brazil and Mexico.

Local bank transfers means businesses in the two countries now have direct access to USDC from large financial institutions, with this removing the need for wire transfers to overseas banks. This also means businesses can now access and use the stablecoin within minutes of a transaction, instead of the delays that took days in traditional settlement processes.

Huge potential for growth in Latin America

The launch of USDC in Brazil and Mexico will see users get the US dollar-pegged coin directly with their Brazilian Reais (BRL) and Mexican Pesos (MXN).

Circle is eyeing the broader Latin America with this expansion, with the market attractive for its massive cross-border flows.

For instance, Mexico’s trade with the US accounts for more than $800 billion in value exchange annually. Meanwhile, 95% of Brazil’s annual foreign trade amounting to $640 billion happens in dollars. Roughly $120 billion of this is from the US/Brazil trade.

While Circle continues to expand its USDC integration across national and regional payment systems, its growth across the crypto industry is also ongoing. On Tuesday, the company announced it was launching native USDC on Sui blockchain. Circle’s cross-chain transfer protocol is also coming to Sui.

As CoinJournal highlighted on Monday, Circle and Sony Block Solutions Labs have partnered to bring USDC onto the recently launched layer-2 blockchain Soneium. The stablecoin issuer was the first to receive regulatory approval under the MiCA regulations.

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TON partners with Curve Finance for a TON-based stablecoin swap project

  • TON Foundation partners with Curve Finance to launch a stablecoin swap project.
  • The stablecoin swap project will use Curve’s CFMM tech to reduce volatility and slippage for TON stablecoin trades.
  • The project will be developed by an independent team under Curve’s Michael Egorov.

The TON Foundation has partnered with Curve Finance, a decentralized exchange (DEX), to launch a TON-based stable swap project. In a blog post announcing the partnership, TON Foundation, a nonprofit organization dedicated to advancing the Open Network (TON) blockchain, described it as a major step towards making stablecoin trading more accessible.

The new TON-based stable swap project aims at enhancing the trading experience for stablecoin swaps on The Open Network blockchain, using Curve Finance’s Constant Function Market Maker (CFMM) technology.

Reducing slippage and price volatility for stablecoin trades

This partnership is particularly noteworthy as projects seeking to use Curve Finance’s technology are typically required to obtain a license.

By integrating Curve Finance’s CFMM technology, renowned for minimizing the price impact on swaps between stablecoins and equivalent assets, the TON-based stable swap project is expected to offer users more efficient trading with less friction.

It will improve liquidity and reduce price volatility and slippage for stablecoin trades within the TON ecosystem.

By offering this innovative stable swap solution, the TON Foundation aims to enhance the broader adoption of its blockchain, while accelerating the growth of stablecoin trading.

Curve Finance’s founder to oversee the project’s development

The project, which will be developed by an independent team selected through a transparent process, will be overseen by Curve Finance’s founder, Michael Egorov, who will act as an advisor.

Egorov will assist the selected team in protocol mechanics and growth strategies.

The independent team will also be granted the rights to implement Curve’s CFMM formula in the new stable swap project, with a portion of the project’s tokens airdropped to eligible users.

The TON-based stable swap initiative marks a milestone in both platforms’ expansion, reinforcing the importance of stablecoins and low-slippage trading in the evolving DeFi landscape.

The post TON partners with Curve Finance for a TON-based stablecoin swap project appeared first on CoinJournal.

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Could this new under-$1 cryptocurrency see 100x gains to become the next Solana or Polygon?

Just a few years ago, it would have been difficult to foresee the meteoric rise of projects like Solana (SOL) and Polygon (MATIC). Early investors in these platforms reaped significant profits, thanks to their rapid growth potential and innovative technology. Now, another contender, Rexus Finance (RXS), is stepping into the spotlight, with some analysts highlighting it as a promising altcoin priced at under $1.

Rexas Finance (RXS): The Next Solana or Polygon?

Rexus Finance (RXS), like Solana and Polygon in their early stages, is a project with the potential to tackle some of the most pressing issues in decentralized finance (DeFi), including scalability, efficiency, and cost. Its focus on real world assets puts it front and center in some huge global industries, including real estate and commodities.

Successful Presale Reflects Strong Investor Interest

One of the early indicators of Rexus Finance’s potential is the strong performance of its token presale. Stage 1 of the RXS presale sold out in less than 72 hours, drawing significant interest from both institutional and retail investors. Currently in Stage 2, RXS tokens are now priced at $0.04 each.

The rapid sellout of Stage 1 suggests growing market confidence in Rexus Finance’s vision. Some of the analysts that saw early success with projects like Solana and Polygon are now showing interest in RXS, seeing a similar growth opportunity. For new investors, Rexus Finance presents a unique prospect, with the possibility of substantial upside according to several analyst predictions.

Disrupting DeFi with Advanced Technology

Rexus Finance aims to address key challenges in the DeFi sector, such as high fees, long transaction times, and network congestion. Its scalable infrastructure allows for thousands of transactions per second, making it well-suited for dApps and smart contracts. Additionally, Rexus Finance’s cross-network functionality enhances its competitiveness by allowing decentralized applications to interoperate seamlessly.

This bridge technology, which connects various decentralized applications, could provide Rexus Finance with a critical edge in the future DeFi ecosystem. Its robust infrastructure and ability to integrate different blockchain networks make it a compelling platform for developers and users alike.

A Clear Roadmap for Future Growth

The Rexus Finance team has laid out an ambitious roadmap focused on expansion and innovation. Following the presale, the next key milestone will be the public listing of the RXS token. This will enable full utilization of the token for transactions and development on the platform.

As RXS becomes more widely available, demand is expected to increase as developers deploy smart contracts and build dApps on the network. This increased usage could drive up the utility and, potentially, the value of the RXS token over time, according to some market forecasts.

Could Rexus Finance Be the Next 100x Altcoin?

While the cryptocurrency market is notorious for its unpredictability, some projects have managed to achieve remarkable growth, as seen with Solana and Polygon. Rexus Finance stands out due to its combination of innovative technology and strong investor interest, which could make it a significant player in the market. Several analysts suggest that Rexus Finance has the potential to deliver substantial returns, possibly even 100x growth in the long term, though this still remains speculative at this early stage.

Rexus Finance’s advantages—scalability, transaction speed, low fees, and solid infrastructure—are similar to the factors that fueled the success of its predecessors. With a token price currently well under the $1 level, it presents an attractive entry point for those looking to invest in early-stage blockchain projects.

Conclusion: A Promising Future for Rexus Finance

Rexus Finance (RXS) has demonstrated its potential to make a significant impact in the DeFi space – and its presale is demonstrating that many investors agree with its upside potential.

While predicting future success in the volatile crypto market is always challenging, Rexus Finance’s innovative approach and early market traction suggest that it could become a key player in the industry. Its fast, scalable blockchain and strong presale performance suggest that the project is attracting attention from both developers and investors.

For more information about Rexas Finance (RXS) visit the links below:

Website: https://rexas.com

Whitepaper: https://rexas.com/rexas-whitepaper.pdf

Twitter/X: https://x.com/rexasfinance

Telegram: https://t.me/rexasfinance

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