BlackRock To Challenge USDT And USDC’s Dominance With New Proposal

Quick Summary:

BlackRock is set to challenge USDT and USDC’s dominance with its new proposal for crypto exchanges to adopt its BUIDL token as collateral on the derivatives market.

Therefore, having BUIDL on platforms like the world’s largest crypto exchange, Binance, will undoubtedly expand the token’s adoption.

This move challenges Tether’s USDT and Circle’s USDC since both stablecoins are the most commonly used in the crypto derivatives market.

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Article Details

Author / Journalist: Boluwatife Adeyemi

Category: Crypto

Markets: India

Topics: Stablecoin News Blackrock 24/7 Cryptocurrency News Tether USDT USDC

Source Website Secure: Yes (HTTPS)

News Sentiment: Neutral

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-10-18 @ 17:53:55 (12 hours ago)

News Timezone: GMT +8:00

News Source URL: coingape.com

Language: English

Article Length: 450 words

Reading Time: 3 minutes read

Sentences: 32 lines

Sentence Length: 15 words per sentence (average)

Platforms: Desktop Web, Mobile Web, iOS App, Android App

Copyright Owner: © CoinGape

News ID: 23121133

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About CoinGape

Main Topics: Crypto

Official Website: coingape.com

Update Frequency: 31 posts per day

Year Established: 2017

Headquarters: India

News Last Updated: 9 hours ago

Coverage Areas: India

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