dtcpay, a regulated digital payment service provider, has announced an important change. Starting in January 2025, it will only support stablecoins for all payment services. The company will stop supporting cryptocurrencies like Bitcoin (BTC) and Ethereum (ETH) by December 2024. According to the announcement, dtcpay affirmed that this change is due to the high volatility of these cryptocurrencies. dtcpay Says Stablecoins is More Reliable Stablecoins are digital currencies tied to the value of stable assets, like the US dollar. They provide a more stable option compared to traditional cryptocurrencies. dtcpay focuses on these stablecoins to create a smoother and more reliable payment experience for users. Notably, this shift shows a growing trend in the fintech industry, where more people see stablecoins as a way to connect the volatile cryptocurrency market with everyday use. Meanwhile, the company will support stablecoins like First Digital USD (FDUSD) and Worldwide USD (WUSD), in addition to USDT and USDC. dtcpay will also continue supporting transactions in fiat currency, ensuring its services are open to everyone. The company’s focus on stablecoins matches global trends as more countries recognize and regulate stablecoins as valid options for digital payments. Wyoming to Launch Stablecoin Beyond dtcpay, the quest for stablecoins is growing across the globe. Recall that Wyoming is pushing for the next phase of its crypto sector growth. This time around, the state is looking at venturing into consumer payments. Wyoming plans to launch its United States dollar-pegged stablecoin as part of this new phase and has decided to name it Wyoming stable token. However, the stablecoin will launch officially in the first quarter of 2025. Wyoming hopes to offer individuals and businesses a faster and cheaper way to conduct transactions. Additionally, it serves as an extra source of revenue for the state. On a larger scale, Wyoming’s stable token will serve as a model for the future federal digital dollar. According to Wyoming Governor Mark Gordon, success for the state is equivalent to “the adoption of a stablecoin… that’s transparent, that is fully backed by our short-term Treasurys [and] that’s dollar dependent.” Paxos Floats New Stablecoin USDG in Singapore Similarly, Paxos, a blockchain giant, introduced its latest stablecoin, Global Dollar (USDG) in Singapore. USDG reflects Paxos’s mission to combine secure compliance with innovative digital finance solutions. Ronak Daya, Paxos’s Head of Product, stressed the need for a solution that combines regulatory compliance with real economic incentives for enterprises. He expressed that USDG is a strategic response to the demand of modern businesses. Paxos partnered with DBS, Singapore’s largest bank by assets , ensuring secured management of USDG reserves. DBS is responsible for cash and custody management and ensuring institutions and individuals trust USDG’s reliability. The post dtcpay to Plots Exclusive Stablecoins Support From January 2025 appeared first on TheCoinrise.com .
