ChainCatcher news, Scroll co-founder Sandy Peng stated that for Scroll, Binance is not just a listing platform; it is the best channel for us to reach global distribution. It will open up the channels for deposits and withdrawals and help us grow to the next stage, especially in emerging markets.The Scroll ETH deposit and withdrawal features on Binance are now live, and soon, Binance will directly support stablecoins on Scroll. We will be the first zkRollup to receive this support. This has been a repeated request from developers in emerging markets, and we are doing our utmost to support them. We love and appreciate our community, but broader distribution will benefit everyone, allowing us to welcome more members to join us in the future.

According to ChainCatcher news, monitored by The Data Nerd, several market makers have deposited stablecoins into CEX, including Binance, OKX, Bybit, and OSL, among which:Wintermute deposited 42 million USDT;Animoca deposited 16.75 million USDT;Flow Traders deposited 34.12 million USDC;Whale Carrot_BTC deposited 6.9 million USDC;A total of 100 million stablecoins have been deposited.

ChainCatcher news, a16z partner Chris Dixon emphasized the importance of further clarifying regulations by the U.S. government during a discussion on stablecoin regulation. He pointed out that the cryptocurrency market has overcome many technical barriers but still faces two main challenges: infrastructure and policy clarity. While some analysts believe that large investors are not interested in application-layer startups, Dixon disagreed with this view. He noted that at least half of a16z's investments in the past few years have been concentrated in the application layer. However, these startups often struggle to realize their visions due to concerns about legal disputes in the next five years.Dixon believes that with new entrepreneurs and new ideas emerging in the digital asset space, a true revival and development of the industry is possible. Although the infrastructure is in place, the lack of regulatory transparency hinders further progress in the industry. He advocates that regulatory policies should prioritize transparency, providing a clear path for legitimate participants while cracking down on fraud and other malicious activities. This is crucial not only for consumers but also for the healthy development of the industry; otherwise, issues similar to FTX may arise again.

ChainCatcher news, the European Central Bank (ECB) has questioned the view that stablecoins are a "safe haven" for investors during market turmoil, finding that they are actually highly influenced by U.S. monetary policy.The working paper examines the connections between U.S. monetary policy, money market funds (MMFs), and stablecoins. It argues that monetary policy, especially dollar policy, is key to linking cryptocurrencies and traditional financial markets. Stablecoins, which have a fixed price typically pegged to fiat currencies (usually the dollar), are susceptible to shocks from within the traditional financial markets, such as changes in U.S. monetary policy, like interest rate hikes.

ChainCatcher message, Chainalysis report shows that the value of stablecoins received in Nigeria rose from about $500 million in July 2022 to over $1 billion in April 2024, then saw a slight decline in December 2023. This coincides with the depreciation of the naira.

ChainCatcher news, according to Bloomberg, Coinbase Global Inc. will delist all unauthorized stablecoins from its cryptocurrency exchange by the end of the year, which could pose a potential blow to tokens like Tether Holdings Ltd.'s USDT.The European Union is expected to fully implement new regulatory rules for the crypto industry, namely the Markets in Crypto-Assets Regulation (MiCA), by the end of this year. Under MiCA, regulations for stablecoin issuers took effect on June 30, requiring them to hold an electronic money license in at least one member state. Guidance for cryptocurrency exchanges and other companies operating in the EU will take effect starting December 31.

ChainCatcher news, according to Cryptonews, the Federal Reserve recently decided to cut interest rates for the first time since March 2020, which is expected to impact the income streams of the five major centralized stablecoins. According to a report released by CCData on September 27, these stablecoins collectively hold nearly $125 billion in U.S. Treasury securities, and for every 50 basis points (bps) cut in interest rates, they could lose about $625 million in interest income. The report indicates that U.S. Treasury securities account for 80.2% of the reserves held by major stablecoins.Data from the Chicago Mercantile Exchange's FedWatch tool shows that the market expects a total interest rate cut of 75 basis points by the end of 2024, including a 50 basis point cut in November and a 25 basis point cut in December. If these predictions come true, stablecoins could face an additional income loss of $937.5 million, bringing the total potential loss from the Federal Reserve's easing policy to $1.5625 billion.Among the affected stablecoins, Tether's USDT holds the largest share of U.S. Treasury-backed reserves, totaling up to $93.2 billion, including U.S. Treasuries and repurchase agreements. Following closely is Circle's USD Coin (USDC), which holds $28.7 billion in U.S. Treasuries through the Circle Reserve Fund. Other stablecoins, such as First Digital USD (FDUSD), PayPal USD (PYUSD), and TrueUSD (TUSD), have smaller Treasury positions of $1.83 billion, $634 million, and $502 million, respectively.Despite these potential financial setbacks, the stablecoin market continues to show resilience. According to CCData, in September, the total market capitalization of stablecoins increased by 1.50%, reaching $172 billion, marking 12 consecutive months of growth.

ChainCatcher news, DefiLlama data shows that the total market capitalization of stablecoins is currently $172.579 billion, with a 7-day increase of 0.15%. In addition, the total market capitalization of USDT is $119.4 billion, accounting for 69.19% market share.

ChainCatcher news, 10x Research released a report stating that since the Federal Reserve cut interest rates in September, Bitcoin has risen by 5%, while Ethereum has surged by 11%, and altcoins are experiencing explosive growth. With the acceleration of stablecoin minting, Chinese over-the-counter brokers report billions of dollars in inflows, suggesting further upside potential. As Bitcoin breaks through $65,000, we expect it to quickly rise to $70,000, followed by setting a new all-time high in the short term.Driven by increased global liquidity, China's $278 billion stimulus plan could ignite a parabolic rebound in cryptocurrency prices. If Trump is re-elected, he may seek to excessively stimulate the U.S. economy, potentially forcing the Federal Reserve to reverse the rate-cutting cycle as early as the first half of 2025.It indicates that the target for the next two weeks is $70,000, with hopes of setting a new all-time high before the end of October.

ChainCatcher news, according to Bloomberg, fintech giants Robinhood and Revolut are considering launching stablecoins. However, a spokesperson for Robinhood stated that there are currently "no plans" to issue stablecoins, but did not dismiss the possibility. Robinhood currently offers a variety of digital asset trading on its platform, including the stablecoin USDC issued by Circle.Additionally, UK-based Revolut is also considering launching a stablecoin. Last week, Revolut launched a retail wealth management application that supports trading across various asset classes, including cryptocurrencies. A spokesperson for Revolut stated that the company plans to "further expand" its crypto products, but did not directly mention stablecoins. Some analysts believe that the upcoming MiCA regulations from the EU will promote stablecoin activity in the region. These regulations will come into full effect by the end of 2024 and will establish specific rules for stablecoin issuers, including licensing agreements and strict reserve management rules.

ChainCatcher News, the Financial Services Agency of Japan held its first meeting of the Fund Settlement Law Revision Working Group on the 25th, beginning the review of regulations related to the fintech era, including crypto assets and stablecoins. The meeting aims to address the diverse needs brought about by the digitalization of financial services and to promote a balance between user protection and healthy market development.During the working group meeting, discussions were held on how to design a system for the rapidly evolving financial business, covering areas such as decentralized finance (DeFi), cashless payments, and fintech. The Financial Services Agency will strive to ensure the stability and competitiveness of the Japanese financial system based on international trends.One focus is to strengthen the regulation of crypto asset exchanges. The Financial Services Agency will learn from the lessons of the FTX bankruptcy in November 2022 and consider introducing mandatory requirements for exchanges to hold assets domestically under the fund settlement law framework, in order to enhance the protection of user assets in the event of an exchange bankruptcy.Discussions on stablecoins also aim to promote their use. Currently, specific trust-type stablecoins are subject to the same regulatory standards as bank deposits, but other countries have greater flexibility in the operation of supporting assets. Japan is also considering adjusting relevant regulations.

ChainCatcher news, according to CoinDesk, Chainalysis CEO Michael Gronager stated in an interview that stablecoins will drive institutional adoption in Asia, although regulators are not pleased with this. Despite the high cryptocurrency adoption rate among Asian users, the United States remains the most influential region in the crypto industry.Gronager pointed out that two-thirds of the transaction volume on the blockchain comes from stablecoin transactions. Additionally, he believes that the upcoming U.S. presidential election will have little impact on the crypto industry, and whether Trump or Kamala Harris wins, the situation will not change significantly.

ChainCatcher news, DWF Labs co-founder Andrei Grachev posted on the X platform stating that the market is gradually dividing into three main categories: regulated tokens (I suspect that the BRICS countries and the US laws will be implemented first, followed by other countries), ordinary utility tokens and some stablecoins, and community-driven tokens.It is best to prepare in advance and seize the opportunities brought by these changes as much as possible; change means opportunity.

ChainCatcher news, according to Coindesk, K33 Research analyst David Zimmerman pointed out that despite the skepticism surrounding the MEME coin craze, the actual applications of cryptocurrency have begun to emerge. The market capitalization of stablecoins has reached $175 billion, becoming an important financial tool in emerging markets. In the payment sector, Mastercard has partnered with Mercuryo to enable over 100 million merchants to accept crypto payments; PayPal and Venmo have integrated Ethereum Name Service to simplify the transfer process.In the communication field, the DePIN project Helium has attracted 113,000 users to its mobile services. In social applications, Telegram, with nearly 1 billion monthly active users, has integrated the Open Network (TON), while LINE, with 230 million monthly active users, has also partnered with Kaia to promote the use of cryptocurrency in instant messaging. The major ride-hailing app in Southeast Asia, TADA, has launched "TADA Mini," allowing users to pay for rides using TON or USDT through Telegram.Zimmerman emphasized that these developments indicate that cryptocurrency is gradually integrating into daily life, providing real value to users. Although MEME coins still hold a significant market share, the serious aspects of the crypto industry are steadily progressing, offering innovative solutions to real-world problems.

ChainCatcher news, Visa's cryptocurrency chief Cuy Sheffield stated during a fireside chat at the Solana Breakpoint event in Singapore on Friday that stablecoins based on non-U.S. fiat currencies will grow in the coming years.Cuy Sheffield said, "The U.S. dollar is great for cross-border transactions, but you need to be able to exchange quickly and efficiently, and other local currency stablecoins can play an important role in that."Cuy Sheffield added that in the future, every major fiat currency will be represented on-chain, although currently, U.S. dollar stablecoins account for 99% of the total supply of stablecoins. It is "exciting" to see more stablecoins trying to differentiate themselves from USDT or USDC entering the market.