Ripple’s XRP gained upwards of 6% in the last week up to December 27, following the announcement that the blockchain was working with Micronesia island nation Palau on a stablecoin project. During a cryptocurrency conference held in Singapore, the President of the Western Pacific nation, Surangel Whipps Jr., said his country was involved in various crypto projects, including a government-issued stablecoin in collaboration with Ripple.

The crypto economy has suffered two major crypto failures this year: the collapse of Luna/TerraUSD in May and the failure of FTX in November. In both instances, the world's largest stablecoin, Tether, was caught in the blast radius as waves of redemptions poured into the company. It shrunk by $18 billion, or 21%, in May and June and by another $4 billion, or 6%, in November.

Stablecoin DEX Mercurial is rebranding to Meteora in an attempt to distance itself from FTX. 

In a recent interview, Shahaf Bar-Geffen, the CEO of FinTech startup COTI Group, the issuer of algorithmic stablecoin Djed (which is built on Cardano), talked about the upcoming launch of the eagerly anticipated project.

On the Waves Tech weekly community AMA on Dec. 23, Waves CEO Sashi Ivanov revealed the USDN revival plan, involving turning USDN into a multi-collateralized asset, a soft-pegged asset — WINDX.

There is enormous negative sentiment surrounding USDN. And with USDN continuously falling off its track, it’s also pulling WAVES down.

A week after delivering his farewell address on the floor of the U.S. Senate, outgoing Pennsylvania Sen. Pat Toomey has quietly introduced another piece of cryptocurrency legislation. The Stablecoin TRUST Act—a backronym for Transparency of Reserves and Uniform Safe Transactions—would establish a federal regulatory framework for "payment stablecoins," and is designed to guide Congress towards a path of "sensible regulation of cryptocurrencies." The legislation is very similar to The TRUST Act that Toomey introduced in April, and is both the latest and likely last bill of several relating to digital assets that Sen. Toomey introduced or cosponsored in this last term. (Decrypt)

Waves blockchain platform founder, Sasha Ivanov, announced plans to launch a new stablecoin as Waves-backed Neutrino Dollar (USDN) failed to secure its peg.

The Cardano blockchain gears up to see the launch of one of its most anticipated stablecoin projects, Djed. Shahaf Bar-Geffen, the head of COTI Network, reiterated during an interview that the algorithm stablecoin would launch on the mainnet in January.

Sasha Ivanov, the founder, and CEO of Waves Platform has announced that he will be launching a new stablecoin.