The Russian Federation is considering the creation of a stablecoin backed by gold that can be employed for cross-border settlements, including with Iran, the chairman of the Financial Market Committee at the lower house of Russian parliament, Anatoly Aksakov, told the Parlamentskaya Gazeta newspaper.

Rating agency Moody's is developing a system to score stablecoins.

Persistent worries about Binance’s solvency, increased regulation of the crypto sector and questionable use cases are chipping away at BUSD’s market capitalization.

Crypto exchange giant Binance’s BUSD stablecoin has extended its recent declines, amid mismanagement issues involving the exchange’s pegged tokens that surfaced earlier this month, and other debacles.

Ethereum co-founder Vitalik Buterin closed a seven-month short position on the non-pegged purported stablecoin RAI, netting a cool $92,000, according to on-chain records.

Circle – the issuer of the second largest stablecoin by market cap, USDC – is preparing to launch a permissionless protocol for letting users transfer their stablecoins between blockchains. 

One of the four biggest banks in Australia, the National Australia Bank (NAB), has announced that it will soon roll out a new Australian dollar-pegged stablecoin on Ethereum and Algorand. By doing so, NAB has become the second of the country’s major financial institutions to build a stablecoin.

Jeremy Allaire, CEO of peer-to-peer payment company Circle, is expecting the U.S. Congress to concentrate on stablecoin regulation this year for a simple reason.

The stablecoin will launch on the Ethereum network and Algorand blockchain, a smart contract platform similar to Ethereum. NAB plans to launch the stablecoin sometime mid-year.

Web3 infrastructure provider Parfin has raised $15 million in a bid to dominate the Latin America region.