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On-chain Bitcoin activity has soared in December, and is on track to eclipse December 2017’s record peak. December of 2017’s record peak

The post December is already the second-biggest month ever for bitcoin on-chain volumes appeared first on The Block.

Quick Take

• ‘Fiat Freeway’ is a weekly column providing the latest updates on central bank digital currencies (CBDCs) and stablecoins. 
• This week’s column explores Visa’s novel offline payment system (OPS) protocol, which expands the global payments technology company’s fast-growing digital ecosystem into CBDC.  

Quick Take

• The well-known stablecoins today are custodial (e.g. USDC), crypto-collateralized (e.g. DAI), and algorithmic (e.g. Empty Set Dollar).
• Each of these designs trades off the kinds of adversarial conditions they can defend against. For example, a custodial stablecoin like USDC can be subject to regulatory pressures.
• A stablecoin designed from tokenizing funding rate arbitrage positions can provide an interesting and trust-minimized alternative to current approaches.

The New York Department of Financial Services (NYDFS) has given Japanese tech giant GMO Internet the green light to issue two stablecoins — a dollar-pegged coin (ZUSD) and a yen-pegged coin (GYEN).

The post New York regulator licenses GMO Internet to issue the first JPY-pegged stablecoin appeared first on The Block.