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Crypto

USDT price jumps 16 percent in a month in Venezuela P2P market

USDT prices in Venezuela\'s peer-to-peer market have risen about 16 percent over the past 30 days, climbing from around 690 bolivars to above 800 intraday. Over the same period, domestic currency liquidity increased about 23.26 percent and was up more than 131 percent from the start of the year. Reports said rising money supply, a shortage of bank dollar liquidity and limits on FX purchases are pushing demand for USDT on platforms such as Binance.

Crypto

LMAX Group CEO says crypto needs more centralisation to grow

LMAX Group CEO David Mercer said the cryptocurrency industry needs more centralisation to move to its next stage of growth. He said centralisation solves coordination problems and enables optimal pricing when buyers and sellers join a single central market. Mercer said decentralisation experiments have historically converged on central coordination points as volatility rises. He added that crypto lacks key traditional finance infrastructure such as credit relationships, clearing brokers and prime brokerage.

Crypto

Banks move as stablecoins grow in battle to defend digital dollars

U.S. financial firms are preparing a joint payments infrastructure that would let bank deposits be transferred directly on blockchains, as stablecoins expand. The Clearing House is pushing a system for 24-hour clearing and settlement of tokenised deposits, linking blockchain transactions to existing fiat networks such as RTP and CHIPS. The push is supported by regulatory distinctions between stablecoins and tokenised deposits, while banks focus on preventing deposit outflows.