Stablecoin

The Los Angeles stablecoin neobank now processes $40 billion in annualised volume across 125 countries, and Japan's SBI Group led the round to plug into it.

The Standard Chartered-backed issuer put HKDAP into beta on Wednesday, with HashKey Exchange and OSL Group cleared to mint and redeem for professional investors only.

The 18 July statutory deadline for GENIUS Act final rules pushes six federal agencies to publish frameworks that would impose bank-quality compliance stacks on stablecoin issuers — a cost structure the mid-market cannot carry and has been slow to prepare for.

Consensys is trying to turn MetaMask from a swap interface into a full self-custodial current account, routing stablecoin balances into Morpho for yield while letting users spend at any Mastercard merchant.

Open Standard, an independent issuer backed by Stripe, Coinbase, BlackRock, Visa and Mastercard, will hand almost all reserve yield to the partners that distribute it — a direct assault on Circle's economics.

USDF, a USDC-backed stablecoin issued on Solana through Coinbase's Custom Stablecoin platform, launched yesterday with wallet app Flipcash as its branding partner — the first commercial deal under the program.

BlackRock used the last day of the OCC's GENIUS Act comment window to demand the regulator scrap a proposed limit on how much of a stablecoin's reserves can be held in tokenised form. BUIDL backs more than 90 per cent of two of the largest crypto-native dollar tokens.

Western Union went live with USDPT, a dollar-backed stablecoin, on Solana on May 4. Anchorage Digital Bank is the issuer, and the company plans to use it for agent settlement, institutional listings, and a consumer payments product launching in more than forty countries this year.

Senators Cynthia Lummis and Thom Tillis publicly stood behind the stablecoin yield language in the CLARITY Act on Monday after a coalition of five banking trade groups attacked the compromise as inadequate. The next two weeks will decide whether the deal holds.

MoonPay went live Friday with the MoonAgents Card, a virtual Mastercard debit product that lets autonomous AI agents transact using stablecoin balances on Solana. Funds stay self-custodial; a smart contract authorises each purchase one transaction at a time.

Senators Tillis and Alsobrooks finalised the language on stablecoin rewards in the CLARITY Act on Friday, ending the months-long deadlock that had killed the bill's momentum. The compromise bans passive yield but preserves activity-based rewards — and Coinbase keeps the revenue stream that mattered most.

The world's largest stablecoin issuer is buying its way into the retail wallets that already serve three million users across the region — because at this scale, distribution is the moat, not liquidity.

A joint proposed rule from FinCEN and OFAC would require permitted stablecoin issuers to run full AML programmes, screen every transaction against the SDN list, and face strict-liability penalties for failing to freeze sanctioned funds. Comments are due by 9 June.

Faryar Shirzad told Fox Business that the Senate Banking Committee could mark up the bill this month, with a floor vote following in May — a timeline the committee's own chairman has yet to confirm.

The stablecoin issuer's new tether.wallet app supports USDT, bitcoin, and tokenised gold with human-readable addresses and no gas tokens — a consumer play aimed squarely at emerging markets.

Visa will operate critical blockchain infrastructure on Tempo, the Stripe-backed layer-1 network built for AI-driven payments, alongside Stripe itself and Standard Chartered's Zodia Custody.

The platform launched Polymarket USD, a wrapped stablecoin backed one-to-one by USDC, alongside a rebuilt trading engine and upgraded smart contracts that cut gas costs for its 300,000-plus active traders.

The US Senate's most ambitious crypto market structure bill is stuck in a four-way deadlock between banking lobbyists, crypto firms, Democrats and Republicans. If it doesn't clear the Banking Committee this month, it may not get another chance before the midterms.

The ABA rejected a White House economic report dismissing stablecoin yield risks to bank deposits, arguing the Council of Economic Advisers studied the wrong question as the Clarity Act heads toward a make-or-break Senate markup.

The FDIC has approved proposed rules requiring stablecoin issuers to honour redemptions within two business days, maintain one-to-one reserve backing, and meet capital and risk management standards — while explicitly excluding stablecoin holders from deposit insurance protection.

FinCEN and OFAC jointly proposed rules that would treat permitted stablecoin issuers as financial institutions under the Bank Secrecy Act for the first time, imposing anti-money laundering programmes, suspicious activity reporting, and sanctions compliance obligations.

SoFi Big Business Banking offers 24/7 settlement in both dollars and stablecoins from a nationally chartered bank, with Cumberland, Mastercard, and Galaxy among its first participants.

The FDIC board voted on 7 April to advance a comprehensive prudential framework governing how federally supervised banks can issue, back, and redeem payment stablecoins, including a two-business-day redemption requirement.

The landmark US crypto market-structure bill entered Easter recess without a markup date, imperilling its chances of becoming law before November's midterm elections.

Trump signed the GENIUS Act into law on July 19, 2025, establishing the first federal stablecoin regulatory framework.

Decentralized finance total value locked exceeds $200 billion across all chains for the first time since the 2021 bull run, driven by stablecoin growth and Ethereum L2 adoption.

Tether reported $6.2 billion in net profit for 2024 as USDT market cap surged past $140 billion, driven by Treasury holdings and ecosystem adoption.

The European Union's Markets in Crypto-Assets regulation became fully enforceable on December 30, 2024, establishing the world's first comprehensive regulatory framework for cryptocurrency.

DeFi startup Avalon Labs has closed a $10 million Series A led by Framework Ventures to expand its bitcoin-backed stablecoin USDa, which has already attracted $700 million in total value locked.

Stripe announced its $1.1 billion acquisition of Bridge on October 21, 2024, representing the largest cryptocurrency infrastructure acquisition in years.