Lugano's partnership with Tether aims to enhance blockchain and cryptocurrency understanding through training and events, positioning Tether as a leader in the city's crypto initiatives. Tether, co-founded by billionaire Giancarlo Devasini, has also influenced Bitcoin's legal status in El Salvador and is exploring gold-backed tokens. The company's significant profits could potentially address Switzerland's federal budget deficit, though its transparency remains a concern.
The Frax community has unanimously approved the use of BlackRock's USD Institutional Digital Liquidity Fund (BUIDL) as collateral for the frxUSD stablecoin, enhancing its yield-bearing potential while minimizing counterparty risk. This collaboration aims to merge traditional finance with decentralized systems, reflecting a growing trend towards yield-bearing stablecoins. Following this decision, the frxUSD will be pegged to the US dollar and backed by US government securities, marking a significant step in the evolution of stablecoin offerings.
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