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Blockchain & Cryptocurrency
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USDY and deUSD: The Rise of Yield-Bearing Stablecoins
2024-08-01 14:59:08
Finance
Blockchain
Business

USDY and deUSD: The Rise of Yield-Bearing Stablecoins

Aptos introduces USDY, a Treasury-backed stablecoin, as part of the growing trend of stablecoin issuers becoming significant buyers of US debt. USDY, unregistered under the Securities Act, aims to democratize finance.

Meanwhile, Elixir Labs launches deUSD to rival Ethena's USDe, planning a mainnet launch in September with $300 million in total value locked. With the tokenized US Treasury market set to hit $3B by 2024, driven by offerings from BlackRock and Securitize, the role of stablecoins in supporting the dollar's dominance is underscored, as highlighted by former US lawmaker Paul Ryan.

The press radar on this topic:

Cointelegraph.com News
31. Juli 2024 um 13:30

Yield-bearing Treasury-backed stablecoin USDY launches on Aptos

Finance
Cryptocurrencies & blockchain
Economy
Politics
Aptos launches Ondo Finance's USDY stablecoin, backed by US Treasurys. Stablecoin issuers major buyers of US debt amid de-dollarization. USDY not registered under Securities Act. Stablecoins benefit underserved, democratize finance. Former US lawmaker Paul Ryan highlights stablecoins' role in sustaining dollar dominance. Tokenized US Treasury market to reach $3B by 2024, driven by BlackRock's BUIDL and Securitize offerings.
The Defiant
1. August 2024 um 11:15

Aptos Foundation Launches Yield-Bearing Stablecoin USDY and $10 Million Fund for Web3 Growth

Cryptocurrencies & blockchain
Finance
Economy
Technology
Aptos Foundation launches USDY stablecoin backed by US Treasuries and deposits, and $10M fund with OKX Ventures to support Aptos ecosystem and promote Web3 technology adoption.
The Defiant
1. August 2024 um 10:06

Elixir Unveils Yield-Bearing Stablecoin To Compete With Ethena

Cryptocurrencies & blockchain
Finance
Economy
Technology
Elixir Labs unveils deUSD, a synthetic U.S. dollar asset, to compete with Ethena's USDe. deUSD will deploy on the Elixir network, which facilitates liquidity, offers an Apothecary points program for minting elxETH, an Ether-backed token supported by decentralized orderbook exchanges like dYdX, Vertex, and SynFutures, with a planned mainnet launch in September and has attracted $300 million in total value locked (TVL).
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