Blockchain technology firm ConsenSys has announced today that it is working with French multinational investment bank and financial services company Societe Generale or SocGen-Forge on central bank digital currency (CBDC) tests-as part of its ongoing CBDC project with the central bank of France- Banque de France. With regard to ConsenSys’ participation, the firm will experiment […]
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With several blockchains integrating the USDC stablecoin last week, crypto payments tech firm Circle announced today that it would now make the dollar-backed stablecoin available for the Solana blockchain, after partnering with the firm. According to Circle, Solana, the blockchain behind decentralized exchange Serum, supports up to 50,000 transactions per second (tps). This surpasses Ethereum’s […]
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BiLira (TRYB), Turkey’s first stablecoin which is backed by the Turkish fiat currency lira announced on twitter that the token has been listed on the Bittrex Global crypto exchange. The announcement detailed that the ERC-20 token will be available for trading starting from today. Global Bittrex, a U.S based cryptocurrency trading platform, also joined the announcement by publishing a tweet that said:
Turkey’s first blockchain-based stablecoin has a market capitalization worth approximately $2 million, with 20 million BiLira tokens in circulation, according to CoinGecko. The digital Lira is 100% collateralized by the Turkish lira and is also said to be safeguarded by BiLira’s banking partners.
A local news source reported that BiLira made way for the convenient trading of digital assets and cryptocurrencies especially with the BiLira valued one to one with the Turkish Lira. The report added that Turkish people can now make use of this opportunity to redeem their tokens for fiat currency and transfer them on the network using the BiLira platform, globally.
The Turkish BiLira was previously listed on the Bitcoin Trading and Securities Exchange, BTSE, a financial technology exchange, in May, earlier this year. The listing occurred during Turkey’s economic struggle which witnessed a sharp drop of lira’s value against the United States dollar.
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