Blockchain DXB: Crypto & Coffee at 8 ☕ 05th Nov 🚨 Global Dollar Network ⚡Lightspark - Universal Money Addresses 👀Mt Gox moves $35M to cold storage 🟢Tether Dirham-pegged stablecoin on TON Blockchain

05th Nov: Blockchain DXB Podcast
🚨 Global Dollar Network ⚡Lightspark - Universal Money Addresses 👀Mt Gox moves $35M to cold storage 🟢Tether.io Dirham-pegged stablecoin on TON Blockchain
🚨 The Global Dollar Network ($USDG): A Stablecoin Backed by Robinhood, Kraken Digital Asset Exchange, Paxos, Anchorage Digital, Bullish, Galaxy Digital and Nuvei.
🏦 This stablecoin will be issued by Paxos in Singapore. Part of the Global Dollar Network, USDG uniquely shares 97% of reserve-generated income with network partners to boost adoption. Unlike Tether and USDC, which retain reserve yields, USDG rewards participating firms for promoting network utility. DBS Bank will handle reserve custody, with the stablecoin also available in the U.S. via partners like Anchorage. Key theme includes
🔒 Custody
💸 Settlement
📊 Trading
💰 Stablecoin rewards
- USDG is available for trading live for Trading on Kraken
- Official info here https://shorturl.at/QGJH1
🎙️ Check out the Blockchain DXB episode we share our commentary on this. We also discuss:
- Do they use Open Blockchain?
- Can transactions be Censored
- Are they replacing the role of a bank?
⚡ Lightspark has launched "Spark," a Bitcoin Layer 2 network that integrates with the Lightning Network to enable cheaper, faster, and non-custodial Bitcoin payments. Alongside Spark, Lightspark introduced new tools for its Universal Money Address (UMA) platform:
- UMA Extend:
- UMA Auth:
- UMA Request:
CEO David Marcus aims for these open-source tools to modernize global finance and encourage community input for improvements.
👀 MT.GOX Exchange, the defunct crypto exchange, moved 500 Bitcoin (around $35 million) to cold storage late Thursday, as observed by blockchain tracker Arkham Intelligence here https://shorturl.at/2Nh2D . This shift comes as the platform has postponed repayments to creditors for another year ie 31st Oct 2025 following a decade-old attack. The reason for moving the funds remains unclear.
🟢 Tether.io announced the launch of a Dirham-pegged stablecoin on the TON blockchain at the Gateway 2024 event in Dubai, in partnership with Phoenix Group and Green Acorn. Alessandro Giori, Tether's senior strategic partnership manager, noted that USDT has rapidly adopted on TON, reaching one billion USDT in just six months. Tether aims to focus on emerging markets like Turkey, Argentina, and Brazil, where high inflation drives demand for stablecoins. Event info here https://tongateway.org/
🟠 Two UAE news (See slides)
⚡ UAE'S ADNOC Group to deploy autonomous AI in the energy sector for the first time
⚡ ADIPEC 2024 opens Monday in Abu Dhabi with a dedicated new AI Zone

For slides click here: https://shorturl.at/Cr5ZY

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