Lugano's crypto partner is the big beneficiary of the uncertainty surrounding Paxos and Binance's stablecoin. At the same time, the people of Ticino are making history in the field of digital bonds. There should be some relief in the crypto hub of Lugano. Meanwhile, many crypto investors have fled BUSD, a stablecoin issued by Paxos Trust of the namesake crypto exchange Binance, which is pegged to the dollar.
Still, Tether is likely to remain controversial. The stablecoin issuer has long been embroiled in controversy over the status of its reserves, which are used to cover the supply of the USDT stablecoin.
The company has consistently denied allegations its USDT in circulation is not percent covered and has submitted quarterly reports from accounting firms supporting their contention. Tether tensions aside, Lugano is making strides on its way to becoming one of Europe's leading blockchain centers. Earlier this year, Lugano broke new ground in debt raising by issuing its first blockchain-based bond with Zuercher Kantonalbank ZKB as sole lead manager, as also reported by finews.
According to a statement on Wednesday, this is an important milestone in the introduction of digital bonds and another world first. About Newsletter. Home People Fintech finews first Interviews finews.
Sunday, 2 February Lugano Image: Shutterstock. Lugano Goes Digital to Issue Debt. Another Milestone Tether tensions aside, Lugano is making strides on its way to becoming one of Europe's leading blockchain centers.
