Autor: dot-traders

Veröffentlicht am

Circle becomes the first stablecoin issuer to meet Canada’s new listing standards

  • Circle received approval from the OSC and the CSA after meeting the VRCA requirements
  • In July, Circle became the first stablecoin issuer to receive a license under the EU’s MiCA’s regulations

Circle has become the first stablecoin issuer to meet Canada’s new regulatory requirements for stablecoins.

In an announcement from Circle, which issues USDC, a US dollar-dominated stablecoin, it said it had received approval from the Ontario Securities Commission (OSC) and the Canadian Securities Administrators (CSA).

By meeting Canada’s Value-Referenced Crypto Asset (VRCAs) requirements, Circle’s USDC can be offered on registered Canadian crypto trading platforms that meet the standards.

Jeremy Allaire, co-founder and CEO of Circle, posted the announcement on X, saying:

“Circle becomes the first stablecoin issuer to comply with the new listing and markets rules for the Canadian crypto market. USDC is the first and only major dollar stablecoin that is compliant with new regulations in Canada.”

Circle received approval ahead of the CSA’s deadline cutoff for delisting non-compliant stablecoins on December 31, 2024.

Speaking about Circle’s achievement, Dante Disparte, chief strategy officer and head of global policy at Circle, said “the availability of USDC in Canada underscores Circle’s compliance with emerging global regulations and marks another step forward in fostering a transparent and accountable digital financial ecosystem,” adding:

“The Canadian Securities Administrators’ proactive approach in providing a digital asset regulatory framework reinforces the integrity of digital asset markets, while ensuring continued reliance on USDC across Canada’s burgeoning ecosystem.”

Circle’s regulatory environment

Elsewhere, Circle is regulated by the US Bank Secrecy Act and holds money transmitter licenses in several US states.

In July, the stablecoin issuer became the first to gain regulatory approval under the European Union’s Markets in Crypto-Assets (MiCA) regulations. The approval grants Circle the ability to issue its USDC and Euro Coin (EURC) stablecoins across the EU.

Additionally, in June 2023, Circle received a Major Payment Institution (MPI) license for digital payment token services in Singapore.

Issued by the Monetary Authority of Singapore, the license enables Circle to offer digital payment token services, cross-border money transfer services, and domestic money transfer services in Singapore.

USDC has a market capitalization worth $40.6 billion, second only to Tether’s USDT, valued at more than $135.8 billion.

The post Circle becomes the first stablecoin issuer to meet Canada’s new listing standards appeared first on CoinJournal.

Veröffentlicht am

Cardano price prediction: $9.27 forecast as ADA eyes fresh rally, Polygon (POL) and another low-price token could get there earlier

Cardano (ADA) could be heading towards a massive rally as the cryptocurrency market is in a state of dynamic change. The current ADA price sits around $1.2 with recent bullish indicators and growing market confidence leading to forecasts for a $9.27 price goal. 

ADA isn’t the only token expected to surge though, and while Cardano gains traction multiple other tokens such as Polygon (MATIC) and the upcoming real-world asset token (RWA), Rexas Finance (RXS), are also starting to pick up steam, all with different factors that could secure major returns.

Cardano’s Bullish Momentum

Recently the price of Cardano has been rocketing up, increasing quite rapidly in the last few weeks. Investor confidence is bolstered by the fact that the blockchain has been resilient, never experiencing even an 8-hour halt, ever. Notably, Cardano’s total value locked (TVL) has increased by 28.5% above the previous all-time high, indicating a rise in decentralized finance (DeFi) activities occurring on its network. Furthermore, the new platform has crossed 100 million transactions, a significant achievement showcasing more adoption of the new platform.

Analysts are bullish on the future of Cardano’s price movements. Besides, as the whole crypto market is bullish and the fundamentals behind this new champion are strong, some analysts are forecasting that ADA could reach as high as $9.27 over the course of future months. Historical price patterns along with technical analysis suggest that ADA may soon break through critical resistance levels, as implied by this forecast.

Polygon’s Growing Appeal

Another token that is picking up steam on the current market landscape is Polygon. A favorite among institutional investors, it trades for roughly $0.56 and currently has a gas fee of approximately 33.61 Gwei, or very cheap to make a trade. Due to this affordability, the option is very attractive to developers as well as users because this will allow easier transactions and interactions between peers in a decentralized application.

When it comes to Polygon, there’s plenty of interest in it because it grows on the back of its scalability solutions, and it grows on the back of its partnerships, and it grows on the back of its ecosystem. With Cardano’s eventual rally, an increasing number of projects will move or incorporate Polygon, leading to increased demand for MATIC, which could drive its price up in tandem.

The Rise of Rexas Finance (RXS)

Deep into this bullish environment for established cryptocurrencies, edging out Cardano and Polygon, is Rexas Finance (RXS) making a major name for itself in the RWA space. As it stands now in Stage 8 of its presale, RXS fetches $0.10 per token, although the next stage should see prices go up to $0.125. This innovative project has already raised an impressive $19.7 million out of a target amount of $20.75 million and is driven by investor demand to participate in something new.

Rexas Finance aims to tokenize real-world assets such as real estate and commodities to democratize access to high-value investments. Through the use of blockchain technology, RXS seeks to bridge the chasm between conventional finance and digital assets by creating fractional ownership. With the momentum building around RXS, a growing number of analysts expect this token to soar. Sales during the presale of RXS are rapid, and many of the investors have been participating with enthusiasm which proves that many of them believe in the project, believing that it is long-term viable, and will earn them a huge return in the future. Recent audits have shown security and compliance, are approved by CertiK, making investors feel safe when investing.

Looking ahead, we see how the interplay between Cardano, Polygon, and Rexas Finance will dictate how crypto investment strategies will be played out. With Cardano’s recent performance and now established presence, it is set to grow. However, developers who are seeking efficiency will be attracted by Polygon’s low transaction costs. With its unique approach to real-world assets, Rexas Finance differentiates itself, potentially changing the way investors use the traditional market with blockchain. Tieing these all together creates a promising picture for investors seeking to focus on new trends developing in the cryptocurrency space. As Cardano hopes to reach a price point of $9.27 and RXS is slated to become a possible game changer in RWA tokenization, investors may want to delve deeper into these concepts now.

Website: https://rexas.com

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

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

Telegram: https://t.me/rexasfinance

The post Cardano price prediction: $9.27 forecast as ADA eyes fresh rally, Polygon (POL) and another low-price token could get there earlier appeared first on CoinJournal.

Veröffentlicht am

PEPE eyes bounce amid Binance.US listing, whale accumulation

  • PEPE is seeing increased whale accumulation as price bounces near key level.
  • The meme coin could explode amid further buy-side pressure as Binance.US lists token.

Pepe (PEPE) has recorded a notable increase in price amid bullish momentum. However, bulls could see another huge move as the surge in whale activity points to long term positioning.

Per market data, the meme coin’s holder composition had a net inflow of 580 billion PEPE and an outflow  of 534 billion PEPE on Dec.3. As the market trends indicate  Pepe whale accumulation, this outlook suggests a potential impact on price as buying pressure mounts.

PEPE whale activity

According to Lookonchain, PEPE whales continue to accumulate the meme coin. This comes even as some long term holders take profits.

While a whale deposited 356.2 billion tokens worth $7.3 million to Kraken, recording a return profit of 31x, others have quickly gobbled up the meme coins from the market.

Over the last 20 days, one whale went on an accumulation spree. Per Lookonchain data shared on X, the whale withdrew about 337 billion Pepe tokens worth nearly $7 million at the time from Binance. This happened as PEPE price jumped alongside the broader meme market. The sector is one of the few that rode the “Trump trade” narrative to record notable upticks.

According to IntoTheBlock data, Pepe has seen a decline in the number of large transactions by 3% in the past week. However, the number of addresses in profit has increased to 83%, with those out of the money at only 1%. Holders at the money currently count at over 54.8k addresses, or 15.6% of total holders.

Pepe price eyes bullish flip amid Binance listing

Binance.US will list PEPE for trading on Dec. 5. The news has coincided with a flip in the meme coin’s price. Here’s the exchange’s announcement.

In terms of price, PEPE has maintained a consolidation range of $0.00001919 – $0.00002109 in the past 24 hours. The token’s value has jumped 14% in the past week, 152% in the past month and over 1,500% in the past year.

The meme coin, which is the third largest in the market behind Shiba Inu and Dogecoin, has a market cap of $8.69 billion. The 24-hour trading volume has jumped 9% to over $4.2 billion.

The post PEPE eyes bounce amid Binance.US listing, whale accumulation appeared first on CoinJournal.