pegged

Members of the Governing Council of the European Central Bank and President of the Deutsche Bundesbank, Joachim Nagel, stated in a speech at the American Chamber of Commerce in Germany that the introduction of euro-denominated stablecoins could provide low-cost cross-border payment services for individuals and businesses, while addressing the dollarization risks posed by dollar stablecoins.Joachim Nagel pointed out that if domestic currencies are replaced by dollar stablecoins, it would be equivalent to the dollarization of the relevant economies, which could severely undermine the effectiveness of domestic monetary policy and European sovereignty. Currently, the European Central Bank is assessing the possibility of using distributed ledger technology for non-central bank currencies, including tokenized deposits and euro stablecoins, and plans to launch a digital euro by 2029. In addition, the European Central Bank is also developing a wholesale CBDC to allow participants in financial markets to execute programmable transactions.

According to CoinDesk, the blockchain network Flare has enabled lending features for its on-chain XRP-pegged asset FXRP through integration with the cross-chain lending protocol Morpho.This update aims to provide XRP holders with more decentralized finance options, allowing them to earn interest by depositing FXRP or using FXRP as collateral to borrow stablecoins and other assets. This feature is currently accessible through the standalone Mystic application, initially offering lending pools supported by FXRP, Flare's native token FLR, and the stablecoin USDT. Morpho's market design isolates each pair of lending assets to limit risk transmission.

Layer-1 blockchain protocol Saga has urgently paused its Ethereum-compatible Saga EVM chainlet after experiencing an attack that resulted in a loss of approximately $7 million. The attack led to unauthorized funds being cross-chain transferred and exchanged for ETH, causing its dollar-pegged stablecoin, Saga Dollar, to de-peg, with the price dropping to as low as $0.75. The Saga team stated that the chain was paused at block height 6,593,800.Preliminary investigations indicate that the incident involved a series of contract deployments, cross-chain operations, and liquidity withdrawals, but there was no consensus failure, validator compromise, or private key leakage; the overall structure of the Saga mainnet remains secure. The impact was not limited to Saga Dollar; its stablecoins Colt and Mustang were also affected. The team has identified the addresses involved in the attack and is working with exchanges and cross-chain bridges to blacklist these addresses. The chain will remain paused until a complete security audit and post-mortem analysis are published.On-chain data shows that Saga's TVL plummeted from approximately $37 million to $16 million within 24 hours, a decrease of about 55%. Some security researchers speculate that the attack may be related to the "infinite minting" of stablecoins using cross-chain mechanisms, while others believe that the possibility of private key leakage cannot be ruled out, but the officials have not yet confirmed the specific attack vector.

According to market news, RAKBank is preparing to join the UAE stablecoin ecosystem after receiving in-principle approval from the Central Bank of the UAE (CBUAE) to issue UAE Dirham-pegged payment tokens.The bank stated in a press release on Wednesday that the upcoming stablecoin will be fully backed 1:1 by Dirhams held in a separate regulated account and managed by audited smart contracts, with real-time proof of reserves. The launch of this stablecoin marks a new phase in RAKBank's digital asset strategy, following the bank's actions in 2025 to allow retail customers to trade cryptocurrencies through regulated brokerage partners.

According to market news, the stablecoin USX on the Solana chain experienced a brief de-pegging, with its price in the secondary market dropping to 0.1 USD at one point. Subsequently, after Solstice injected liquidity, the price of USX has recovered to the level of 0.94 USD.

The Bank of Canada has made it clear that under the new stablecoin regulations expected to be introduced in 2026, it will only approve "high-quality" stablecoins that are pegged to central bank currency to ensure they become "good money.""We want stablecoins to be good money, like bank notes or bank deposits," Governor Tiff Macklem said on Tuesday at the Montreal Board of Trade. Macklem stated that stablecoins must maintain a 1:1 peg ratio with central bank currency and be backed by "high-quality liquid assets," which should be easily convertible to cash, typically including treasury bills and government bonds.This statement follows the lengthy "2025 Budget Report" released by Canada in early November. The report indicated that stablecoin issuers will be required to hold sufficient reserves, establish redemption policies, and implement various risk management frameworks, including protections for personal and financial data. "The goal is to ensure that Canadians can safely benefit from the innovative advantages of stablecoins," Macklem said.

Circle's euro-pegged stablecoin EURC is now live on World App. Users can now buy, sell, and send EURC in World Wallet.

Circle's euro-pegged stablecoin EURC is now live on World App. Users can now buy, sell, and send EURC in the World Wallet.

According to Nikkei News, Sony Bank is set to issue a dollar-pegged stablecoin in the United States as early as fiscal year 2026.Sony Group plans to use this stablecoin for payments related to gaming and anime content within its ecosystem.

On-chain data shows that the Yala stablecoin YU has significantly de-pegged, currently dropping to $0.44 on the Ethereum mainnet and $0.368 on Solana.According to previous news from ChainCatcher, the Yala stablecoin YU experienced suspicious lending situations similar to USDX over the weekend. Yala responded yesterday, stating that they have noted the community's concerns regarding the stablecoin YU and are conducting an investigation.

The staked stablecoin Stream USD (XUSD) has depegged, with a 24-hour drop of 22.6%, currently priced at $0.938.

ChainCatcher news, OKX CEO Star posted on the X platform that Ethena Labs has excelled in portfolio and risk management, and its transparency should set the industry standard. OKX has launched the ENA token and may support USDe in the future, while also being one of Ethena's early angel investors.Star pointed out that the market should not view USDe as a 1:1 pegged stablecoin; its essence is a tokenized hedge fund that typically employs relatively low-risk strategies such as delta-neutral basis trading or money market investments, but it still carries inherent risks, including automatic deleveraging (ADL), exchange failures, and custody security vulnerabilities. He emphasized that labeling USDe as a "stablecoin" or referring to its price fluctuations as "de-pegging" is misleading, as the design intention of USDe is not to maintain a fixed peg to the US dollar. If exchanges plan to incorporate it into their collateral systems, they must establish a comprehensive and dynamic risk control mechanism.

ChainCatcher news, according to Aastocks, Circle's Vice President for the Asia-Pacific region, Chen Qinqi, stated that professional investors in Hong Kong can currently use USDC under the existing framework without additional regulation. The company has no plans to issue a Hong Kong dollar-pegged stablecoin and is currently focused on the US dollar stablecoin USDC and the euro stablecoin EURC.Chen Qinqi also pointed out that Circle remains open to collaborations related to a Hong Kong dollar stablecoin and has engaged in discussions with several institutions, looking forward to the future launch of the Hong Kong dollar and other stablecoins in the Hong Kong market.

ChainCatcher news, Ethena Labs founder Guy Young posted on the X platform stating: The oracle attempts to identify two different scenarios, one being a temporary misalignment of secondary market prices, and the other being permanent impairment of collateral, which has never occurred with USDe. The likelihood of such an event happening is much lower for most assets, including USDe. Although DeFi money markets have been criticized for USDe pegging to USDT, it is indeed considered reasonable as it can avoid liquidations caused by temporary price imbalances.Ethena provides on-demand proof of reserves to a few entities, some of which are also oracle providers, including Chaos Labs and Chainlink. During this week's market turmoil, Ethena's minting and redemption functions did not experience downtime. Price misalignments were observed through major liquidity venues on-chain, such as Curve, Uniswap, and Fluid, with over $9 billion in on-demand stablecoin collateral available for immediate redemption, but the actual usage was only a small fraction.

ChainCatcher news, according to Cointelegraph, the Central Bank of Kazakhstan is partnering with Solana and Mastercard to launch a pilot project for a new stablecoin pegged to the local currency, the Kazakhstani tenge.According to the statement, the country's national bank has initiated this project within its digital asset regulatory sandbox framework. The new Evo (KZTE) stablecoin is issued with the assistance of sandbox participants, the crypto exchange Intebix and Eurasian Bank. The founder of Intebix stated that KZTE is based on the Solana blockchain and has been launched within the central bank's regulatory sandbox, with Mastercard planning to connect it with global stablecoin issuers.Kazakhstan's newly launched Evo stablecoin is referred to as a "national stablecoin," aimed at bridging cryptocurrency innovation with traditional finance. Its use cases include expanding cryptocurrency-fiat channels, facilitating exchanges, and supporting cryptocurrency card transactions. This project is part of the national bank's strategy to build a digital asset ecosystem, and although it is technically issued by Intebix and Eurasian Bank, the central bank is involved through regulatory mechanisms.

ChainCatcher news, according to CoinDesk, the payment giant MoneyGram has announced that its new application will incorporate a stablecoin pegged to the US dollar and a blockchain settlement track, supported by Circle's USDC stablecoin, the Stellar blockchain, and wallet company Crossmint.

ChainCatcher news, another security incident has occurred in the decentralized finance (DeFi) sector. The exchange Bunni, built on Uniswap, has been hacked, resulting in a loss of $8.4 million. According to the official Bunni website, the application aims to "maximize the profits of liquidity providers under all market conditions," but today's loss is contrary to that goal.Previously, according to the crypto security auditing firm BlockSec Phalcon (@Phalcon_xyz), a suspicious transaction targeting the Bunni protocol (@bunni_xyz) contract was detected on the Ethereum network, causing a loss of approximately $2.3 million. About two hours later, the Bunni team acknowledged the incident and suspended their contracts across all networks. Subsequently, more auditing firms got involved in the investigation and found that in addition to the $2.3 million loss on the Ethereum network, there was also a loss of $6 million on the Unichain network, bringing the total loss to $8.4 million.The attack appears to be related to a precision vulnerability in the platform's "liquidity allocation function" curve. The hacker manipulated this function through carefully designed transaction sizes, leading to errors in the rebalancing calculations, which incorrectly computed the shares each liquidity provider should hold. The hacker repeated this process to extract excess LP tokens, draining Bunni's liquidity pool.Although Bunni's codebase had been audited by well-known security firms such as Trail of Bits and Cyfrin, and there were "serious" issues reported, it remains unclear whether this attack fell within the scope of those audit reports.

ChainCatcher news, Tokyo-listed financial services company Monex Group announced that it is considering launching a yen-pegged stablecoin.According to Monex Group, the proposed yen-pegged stablecoin will be backed by assets such as Japanese government bonds and can be exchanged for yen at a 1:1 ratio. Its potential applications include cross-border remittances and corporate settlements. Monex Group owns the Japanese cryptocurrency exchange Coincheck and operates a domestic brokerage business. The group plans to leverage these two business segments to advance the stablecoin project.

ChainCatcher message, according to Binance market data, the stablecoin USD1 experienced a brief de-pegging situation, dropping to a low of 0.9934 USD, and has now rebounded to 0.9975 USD.

ChainCatcher news, according to Decrypt, Charles Schwab CEO Rick Wurster stated during the earnings call that the company intends to issue a dollar-pegged stablecoin and is preparing to offer clients spot Bitcoin and Ethereum ETFs. Charles Schwab hopes to deepen its blockchain trading layout and join large financial institutions like Citigroup and JPMorgan that are exploring stablecoins. The company currently manages assets exceeding $7 trillion.According to the Web3 asset data platform RootData, Charles Schwab is an investment services company dedicated to disrupting the traditional way Wall Street invests on behalf of clients. They provide a full range of brokerage, banking, and financial advisory services through their subsidiaries, including Charles Schwab & Co., Inc. (SIPC member) and Charles Schwab Bank (FDIC member).