BVNK nově podporuje vklady a výplaty USDC na Arbitrum pro firemní správu pokladny a vypořádání. Tím rozšiřuje podporu regulovaných stablecoinů napříč blockchainy.
BVNK adds USDC on Arbitrum for corporate payouts@BVNKFinance now supports $USDC deposits and payouts on @Arbitrum, targeting corporate treasury and settlement workflows. The move allows companies to move funds across both fiat and digital rails, with lower latency and lower transaction fees compared with traditional cross-border banking systems.
The integration runs on BVNK's existing payments infrastructure, which processes more than $36 billion in annual volume across more than 130 countries. That scale gives the Arbitrum-based $USDC capability an immediate enterprise footing, rather than a pilot-stage rollout.
By routing regulated stablecoins like $USDC through @Arbitrum, the setup provides near-instant cross-border velocity. Arbitrum's speed, low cost, and scale make it a practical fit for the next phase of institutional finance.
Where this fits in Mastercard's broader stablecoin pushThe development sits within a wider strategic shift at Mastercard. In March 2026, Mastercard agreed to acquire BVNK for up to $1.8 billion, comprising a $1.5 billion base payment plus up to $300 million tied to performance targets. The completed acquisition expands Mastercard's strategy to support interoperability across fiat and digital currencies.
Mastercard's settlement framework supports regulated stablecoins including Circle's $USDC, with these stablecoins enabled across a range of blockchain networks including @Arbitrum, Base, Canton, Ethereum, Polygon, Solana, Tempo, and XRPL.
Traditional banking systems are restricted by weekend and holiday closures, while blockchain rails operate continuously. This allows global firms to move liquidity outside standard banking hours to prepare for operations across different time zones. Compared with $15 to $50 per wire on the originator side and 25 to 75 basis points in FX spread on cross-border legs, stablecoin transfers are an order of magnitude cheaper at most B2B volumes.
Jorn Lambert, chief product officer at Mastercard, noted that "digital currencies, particularly stablecoins, are increasingly addressing real-world needs in areas like cross-border B2B payments, remittances, payouts, settlement and treasury flows."
Sources
Mastercard completes acquisition of BVNK (Mastercard Press Release)
Mastercard expands stablecoin settlement capabilities (Mastercard Press Release)
Mastercard taps Arbitrum for global stablecoin settlement (Arbitrum Blog)
USA zveřejnily návrh pravidel pro stablecoiny, ale finální podoba zákona GENIUS Act stále není hotová pět měsíců před nabytím účinnosti. Veřejná konzultace běží 60 dní.
Five months before the deadline, the American law meant to regulate stablecoins remains an open project. In this context, the US Treasury has just published its most anticipated draft rules. Added to this is the launch of a decisive consultation. But between accumulated delays and a paralyzed Congress, nothing is decided yet. Behind the regulatory urgency also lies the global dominance of the dollar.
In brief On August 17, 2026, the US Treasury published a draft of rules defining who must obtain a federal license to issue stablecoins in the United States. The text opens a 60-day public consultation, with a response deadline set for mid-October 2026. The GENIUS Act must come into force on January 18, 2027, but no final rules have yet been finalized. Stablecoins: what the new Treasury draft really changes On August 17, 2026, the US Treasury Department published a Notice of Proposed Rulemaking (NPRM) relating to section 3 of the GENIUS Act. Approved by the Senate in June 2025, this law regulates payment stablecoins in the United States.
Specifically, this text defines two previously vague concepts:
what it means to “issue” a stablecoin in the United States; what it means to “offer or sell” a stablecoin to a person residing on US soil. These definitions are not just legal details. They determine which issuer will need to obtain a federal license and which can settle for a state authorization.
The US Treasury specifies that it has deliberately excluded certain reflexes stemming from traditional securities law. Indeed, it considers that stablecoins are intended to serve as a means of payment rather than as investment instruments.
Treasury Secretary Scott Bessent justifies the current approach in a statement released Monday:
These new rules must provide companies with the regulatory certainty necessary to innovate, strengthen the dollar’s role as the world’s reserve currency, and make the United States the global cryptocurrency capital.
A declaration illustrating Washington’s stated ambition: to make the tokenized dollar a global standard for digital payments.
A schedule for stablecoins at high risk of slippage The text sets two deadlines:
From January 18, 2027, the scheduled date of the law’s entry into force, any entity wishing to issue a stablecoin in the United States will have to hold either a federal or state license. From July 18, 2028, digital asset service providers will no longer be able to offer any stablecoin to US residents if it is not issued by a licensed issuer. There is thus an 18-month transition window between the two deadlines. However, the actual timeline already worries industry professionals. In reality, the law originally required regulators to finalize their rules within 120 days after the vote on the text in July 2025. This deadline expired in July 2026, without any definitive rules being published.
The result: the Genius Act could come into force in January 2027 without a complete user guide. A very rare situation for financial regulation of such magnitude!
The public now has 60 days after publication in the Federal Register to comment on the text, with a deadline estimated for mid-October 2026. The Treasury will then have to review these responses before drafting a final version. The process generally takes several additional months.
Why is stablecoin regulation so delayed? The US Treasury is not the only player. The Office of the Comptroller of the Currency (OCC), the Federal Deposit Insurance Corporation (FDIC), and the Federal Reserve each published their own draft rules in 2026, without perfect coordination among the agencies. This institutional fragmentation partly explains the accumulation of delays. The fact is that each regulator advances on its own schedule, with its own priorities.
Added to this is a political deadlock. The Digital Asset Market Clarity Act is currently stuck in the Senate. This piece of legislation is supposed to rewrite certain provisions of the GENIUS Act, notably the treatment of yield programs offered to stablecoin holders on exchanges. Key votes could not begin before the August summer recess, casting doubt on the final coordination between the two texts.
For analysts, this situation reflects a structural imbalance: the United States legislated quickly on the principle of stablecoins, but struggles to turn this general framework into precise operational rules. A classic gap between the political ambition of a text and the slow mechanics of its administrative implementation!
Tether, USDC: who has the most to lose in the stablecoin battle? The market does not pause while Washington legislates. According to data aggregated by DefiLlama, the cumulative stablecoin capitalization stands at $308.0 billion. This represents a 14.3% increase year-on-year, with a historic peak of $322.4 billion on May 17, 2026.
Chart showing the evolution of stablecoin capitalization (Source: DefiLlama) Tether (USDT) maintains a dominant position with nearly $183 billion in capitalization, about 59% of the market (far ahead of USDC issued by Circle).
The industry’s attention is precisely focused on the treatment of foreign issuers. Tether, based outside the United States, is a textbook case. Indeed, the Treasury text will need to specify under what conditions a foreign issuer can continue to be distributed on US soil without a local license, provided that certain reciprocal commitments between jurisdictions are respected. A regulatory misstep could therefore weaken the world’s largest stablecoin’s access to the US market, with cascading repercussions on the liquidity of the entire crypto ecosystem.
The onchain transfer volumes illustrate the stakes. According to CryptoRank Research, USDC transfers reached about $3,600 billion in July 2026 (compared to $1,400 billion for USDT). These data show two very distinct usage logics (institutional payment for one and trading liquidity for the other) that the future Treasury rule will have to address with equal rigor.
Distribution of stablecoins according to transfer volumes (Source: CryptoRank) Five months before the deadline, the stablecoin law is moving forward without a definitive safety net. Between scattered agencies, a stuck Congress, and a market already at $310 billion, the future depends on a simple factor: the speed at which Washington turns ambition into applicable rules.
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Ariela R.
My name is Ariela, and I am 31 years old. I have been working in the field of web writing for 7 years now. I only discovered trading and cryptocurrency a few years ago, but it is a universe that greatly interests me. The topics covered on the platform allow me to learn more. A singer in my spare time, I also cultivate a great passion for music and reading (and animals!)
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The views, thoughts, and opinions expressed in this article belong solely to the author, and should not be taken as investment advice. Do your own research before taking any investment decisions.
Zebec uvedl, že jeho firemní mzdová platforma na Stellar získala za dva měsíce devět firemních účtů a dosahuje ročního tempa zhruba 4 miliony USD ve výplatách v USDC. Spuštění na Stellar bylo oznámeno v březnu 2026.
Early traction builds on Stellar rails@Zebec_HQ says its enterprise payroll product on @StellarOrg has signed up nine business accounts within two months of launch, generating an annualized run-rate of roughly $4 million in $USDC payroll. The figures offer an early read on real-world demand for on-chain payroll infrastructure at a time when stablecoin adoption in corporate payments is accelerating.
Zebec's enterprise dashboard is designed for HR managers overseeing large, distributed teams, letting employers stream salaries and contractor payments in stablecoins directly into workers' digital wallets. The Stellar deployment, announced in March 2026, marked Zebec's first expansion beyond the Solana blockchain, where its streaming payroll infrastructure was originally built.
Stellar's architecture suits the use case. Transaction costs on the network run below one cent, and the network processes more than 250,000 USDC transactions daily, providing the liquidity base needed for high-frequency payroll operations.
Ecosystem add-ons broaden reachZebec has been layering on integrations since launch. A MoneyGram offramp gives workers cash-out access through MoneyGram's global agent network. Privy wallet infrastructure handles onboarding, while Tangem hardware wallet support adds a physical self-custody option for employees. Euro-denominated payouts are available through AllUnity's EURAU stablecoin, expanding the product beyond dollar-only settlement. Zebec Cards support for onramping and treasury management is flagged as the next item on the roadmap.
The additions reflect a broader pattern in enterprise stablecoin payroll, where coverage of local fiat offramps and wallet flexibility often determine whether a product gains traction in non-US markets. Zebec has positioned itself as Stellar's designated payroll infrastructure provider, with @StellarOrg selecting the firm in that role as part of a wider push to attract institutional use to the network.
Sources:
Zebec: Enterprise Payroll on Stellar launch post
Crypto Economy: Zebec launches enterprise payroll on Stellar
Edgen: Stellar taps Zebec for USDC payroll
Evropský parlament podpořil vícenásobné vydávání stablecoinů poměrem 390 ku 86, což by mělo zachovat jejich fungibilitu. ECB ale varuje před runem a nedostatkem rezerv pod dohledem EU.
Buried in the European Commission's MiCA review consultation, open until August 31, is the question that decides whether global stablecoins can exist in Europe at all: should the regulation "continue to be open to multi-issuance models?" The bureaucratic phrasing conceals a two-year institutional brawl. On July 9, the European Parliament voted 390 to 86 to back multi-issuance with safeguards, rejecting a push from the European Systemic Risk Board, chaired by Christine Lagarde, to shut the practice down. The ECB side has not conceded. Nobody has, because the word at stake is fungible, and fungibility is the entire product.
Multi-issuance is how a global stablecoin squares MiCA with reality. Circle became the first global issuer authorized under MiCA, through France, in 2024; Paxos issues its Global Dollar through a Finnish entity-launches-in-the-eu). A USDC minted in Paris and a USDC minted in Boston are the same token at the same price, redeemable anywhere. Break that fungibility and you do not have a global dollar with an EU license. You have an EU token that happens to share a name with one.
Frankfurt's nightmare scenario is specificThe ECB's objection is a run-dynamics argument, stated plainly in its November Financial Stability Review: when an EU entity and a third-country entity jointly issue a fungible coin, the EU issuer may hold "insufficient reserve assets under the supervision of EU authorities to fulfil the combined redemption requests." The ESRB's version, from the Reuters reporting that surfaced the fight last October: in a run, "investors will choose to redeem in the EU, since it has the strongest safeguards." Europe wrote the world's most protective redemption rights, and those rights make its reserves the run's front door. Global holders converge on the redemption window with the best guarantee, and the guarantee is Europe's.
It is a coherent scenario, and the counterargument is equally concrete: reserves can be sized and ring-fenced to EU circulation, issuers rebalance across entities in practice, and the EBA told Reuters in November that existing MiCA tools, applied with safeguards, can carry the risk. The Commission's spokesperson was blunter still: MiCA already provides "a robust and proportionate framework." Market authorities versus monetary authorities, competitiveness versus sovereignty, with the file sitting in Brussels.
The formal machinery behind the fight matters because it fixes the calendar. The systemic-risk board's recommendation, adopted in September and published in October, asked the Commission to act by the end of 2025; a Council working document circulated to member states argued MiCA "lacks dedicated tools" for the multi-issuer model. The Commission instead folded the question into its scheduled review, published the consultation in May, and its report is due by mid-2027 with legislation after. Deadlines, in Brussels, are a form of answer: the ECB asked for action in months and received a process measured in years.
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The asymmetry underneath the argumentWhat gives the fight its edge is how little Europe has built on its own side of it. All MiCA-compliant euro stablecoins together total about €674 million, growing fast but standing at roughly a fifth of one percent of the dollar-stablecoin market. Circle's USDC alone circulates $77 billion. The ECB counts dollar-denominated coins at 99% of all stablecoin supply. Nineteen authorized issuers operate under MiCA, and the volume that matters still runs through two American brands. Restricting multi-issuance would not conjure euro coins into existence. It would ring-fence the dollar coins Europeans already use, with consequences the Ledger Insights analysis states precisely: even ring-fenced, local reserves could be drained in a crisis as holders elsewhere rush to redeem, and a hard split invites the one outcome everyone claims to oppose, the same coin trading at different prices inside and outside the EU.
The register beneath the fight is modest either way: 19 authorized issuers of e-money tokens under MiCA as of March, issuing 29 tokens, with Circle's EURC, at $430 million, the largest euro coin. The euro complex is growing at triple-digit rates, which Brussels cites as vindication, from a base that rounds to zero against the dollar complex, which Frankfurt cites as the emergency. Both citations are accurate. A regime one year into operation is being renegotiated over a market share it never had time to win, because the currency at stake is the one Europe prints.
What a safeguarded settlement would mean in practice is already legible in the consultation's questions. An EU treasurer's USDC would redeem through EU-authorized platforms, making exchanges and custodians the border checkpoints; issuers would carry reserve-rebalancing duties sized to EU circulation, monitored by the EBA, whose staff has already sketched the liquid-asset expectations; and the third-country entity on the other side of the fungibility promise would need a home regime Brussels recognizes. Global coins would survive with more paperwork and a standing dependence on EU-US regulatory relations, which, for an instrument marketed as borderless, is its own kind of verdict.
Tether's absence frames the stakes from the other side. The largest stablecoin on earth skipped MiCA entirely, was delisted for EEA users by Binance in March 2025, and is still being removed from platforms, with Revolut dropping USDT for EU customers this month. MiCA already fenced out the coin that would not comply. The current fight is over the ones that did comply, which is why it stings: the issuers being threatened with ring-fencing are the regulation's own success stories. Circle's policy chief Patrick Hansen makes exactly that point about the review: it "does not signal MiCA's failure" but the scheduled maintenance of a young regime.
The digital euro is standing just offstageNo reading of this fight is complete without the project the ECB actually wants. In October the Governing Council put dates on the digital euro: a pilot in mid-2027 and first issuance in 2029, conditional on the legislation passing. Executive Board member Piero Cipollone's speeches braid the threads together explicitly, warning that dollar stablecoins could gain a foothold in European retail payments while pitching the digital euro as the European public option. Every warning about multi-issuance run risk doubles as an exhibit in the digital euro's case file. That does not make the warnings wrong. It does explain the enthusiasm with which they are delivered.
Cipollone's February speech in Rome made the linkage nearly explicit, warning that dollar stablecoins could gain a foothold in European retail payments while presenting the digital euro as the public option built on European infrastructure. His earlier catalogue of stablecoin risks, runs, fire sales of reserve assets, ran through the same speeches that advanced the digital euro timeline. The two files are formally separate and rhetorically inseparable, and every institution in the fight understands the choreography.
Where this landsThe formal path is now fixed: consultation closes August 31, the Commission's review report is due by mid-2027, legislation follows. The Parliament's lopsided vote signals where the political center sits, and the likely landing zone is visible in the consultation's own questions, multi-issuance preserved, wrapped in safeguards, reserve rebalancing obligations, redemption gates through EU-authorized platforms, perhaps equivalence requirements for the third countries involved. The Skadden reading of the options lists exactly those mechanics, and the consultation's own safeguard questions add third-country equivalence regimes, the tool the EU reaches for when it wants leverage over foreign supervisors. That would put Washington in the loop: a GENIUS-regulated US issuer wanting EU fungibility would need its home regime blessed by Brussels, the mirror image of the comparability determinations the GENIUS Act demands of foreign issuers. Two blocs, two rulebooks, each holding a key to the other's market, is where global stablecoin regulation was always going to land.
The technical question, who redeems what, where, in a run, is real, and answerable with arithmetic and ring-fencing. The political question underneath is harder: whether Europe can live with the dollar's private rails winning on European soil under a European rulebook. The GENIUS Act settled America's stablecoin fight in a summer. Europe, characteristically, has scheduled its own for 2027, and in the meantime every euro of growth in that €674 million tells Frankfurt time is not neutral. Fungibility will probably survive the review; a 390-to-86 Parliament and a Commission on record that MiCA suffices are hard to overturn with a scenario, however coherent. What fungibility now carries is a price tag, denominated in safeguards, reserve rebalancing duties, redemption gates, equivalence tests, and the invoice arrives with the 2027 legislation. Europe regulated stablecoins first and is discovering the sequel obligation: regulating first means renegotiating first, in public, with the market watching the drafting.
Binance 21. srpna ukončí na Cross Margin osm párů včetně AUCTION/USDC, BEAMX/USDC, CETUS/USDC, HUMA/USDC, LAYER/USDC, NXPC/USDC, UMA/USDC a VELODROME/USDC. Na Isolated Margin skončí také HUMA/USDC, LAYER/USDC a NXPC/USDC.
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In a recent announcement, major crypto exchange Binance issued a notice of removal for selected margin trading pairs, which will be delisted from Cross and Isolated Margin platforms as applicable.
A total of eight pairs will be delisted from Cross Margin; three out of these eight will be delisted on Isolated Margin, with the delisting set to occur on August 21.
The eight Cross Margin pairs affected include AUCTION/USDC, BEAMX/USDC, CETUS/USDC, HUMA/USDC, LAYER/USDC, NXPC/USDC, UMA/USDC and VELODROME/USDC.
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The Isolated Margin pairs affected are three in number and include HUMA/USDC, LAYER/USDC and NXPC/USDC. Binance Margin will delist the aforementioned margin trading pairs on August 21 at 06:00 (UTC).
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Starting from now, users will no longer be able to transfer any amount of assets of the said pairs via manual transfers and Auto-Transfer Mode into their Isolated Margin accounts with immediate effect.
Delisting datesBinance Margin will suspend isolated margin borrowing on the isolated margin pairs of HUMA/USDC, LAYER/USDC and NXPC/USDC on August 18 at 06:00 (UTC).
Binance Margin will close users' positions, conduct an automatic settlement, and cancel all pending orders on the cross and isolated margin pairs listed on August 21 at 06:00 (UTC). These pairs will then be removed from Binance Margin.
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Users will not be able to update their positions during the delisting process, which may take about 3 hours; hence, they are urged to close their positions and/or transfer their assets from Margin Accounts to Spot Accounts prior to the cessation of Margin trading on August 21 to avoid potential losses.
Binance to perform wallet maintenance for BNB Smart ChainBinance will perform wallet maintenance for BNB Smart Chain (BEP20) on August 20 at 06:00 (UTC).
To support the wallet maintenance, deposits and withdrawals on BNB Smart Chain (BEP20) will be suspended starting from August 20 at 05:55 (UTC) and will be resumed when the maintenance is complete. The maintenance will take about one hour, but trading of tokens on the network will not be impacted.
Americké ministerstvo financí otevřelo připomínky k pravidlům pro stablecoiny podle GENIUS Act. Od 18. ledna 2027 bude pro jejich vydávání v USA nutná licence.
The U.S. Department of the Treasury has issued a notice of proposed rulemaking, soliciting public comments on the payment stablecoin regulatory framework under Section 3 of the GENIUS Act. Per the legislation, starting January 18, 2027, any individual issuing payment stablecoins in the U.S. must obtain a federal or state license; digital asset service providers are prohibited from offering foreign-issued payment stablecoins unless the foreign issuer has the technical capability to comply with U.S. laws and reciprocal arrangements. Starting July 18, 2028, all payment stablecoins that service providers offer or sell to persons within the U.S. must be issued by a licensed issuer. Treasury Secretary Scott Bessent stated, “Trump and Congress passed the GENIUS Act, establishing a landmark framework and clear rules for payment stablecoins, and the Treasury is moving quickly to implement it.” The core of this proposed rule is to define the specific meanings of “issuing payment stablecoins in the U.S.” and “offering or selling to persons within the U.S.,” clarifying for the industry when a license is required and how to operate compliantly in the U.S. market. The public may submit comments within 60 days of the notice’s publication in the Federal Register. This rulemaking builds on a prior notice issued by the Treasury last September, marking the transition of stablecoin regulation from a framework act to the implementation of enforceable rules, which will directly impact the compliance paths of major stablecoin issuers including USDC and USDT, as well as trading platforms.
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Morph spustil neúschovní platební platformu pro USDC a USDT, která posílá stablecoiny přímo do peněženek ovládaných uživateli. Firmy si mohou napojit vlastní wallet a přijímat platby přes faktury nebo platební odkazy bez vkladu u Morph.
Morph has launched a non-custodial payments platform that supports USDC and USDT, lets businesses connect their own wallets, and settles customer payments directly on-chain.
Summary
USDC and USDT payments settle directly into wallets controlled by users.
Morph Payments includes invoices, payment links, and a transaction dashboard.
The platform does not require businesses to deposit stablecoins with Morph.
Visa data cited by Morph put adjusted stablecoin volume at $10.2 trillion over 12 months.
Morph Payments leaves funds in users’ wallets
According to an Aug. 12 press release from Morph shared with crypto.news, the service is available to online businesses, freelancers, and distributed organizations that want to accept, send, and monitor stablecoin payments.
Morph Payments works by connecting a self-custodial wallet to the platform rather than requiring a business to transfer its funds into an account controlled by Morph. When a customer completes a payment, the stablecoins move directly to the wallet selected by the recipient.
Morph said the initial release supports USDC and USDT, the two stablecoins named in the announcement. Businesses can create an invoice or payment link that directs customers to a checkout page, while completed transactions appear in a single dashboard.
Under the setup described in the release, Morph provides the payment interface but does not hold the funds sent through it. Businesses retain control of the private wallet receiving the payment, and the stablecoins become available once the blockchain confirms the transaction.
Such a model differs from a custodial processor, which receives money on behalf of a merchant and later releases the balance. Morph said direct settlement can reduce the time businesses wait to access incoming funds, although the announcement did not provide transaction-speed tests or comparisons with specific payment companies.
The release also did not disclose the platform’s fees, transaction limits, supported jurisdictions, identity-verification requirements, wallet compatibility, or smart-contract audit details. Morph said businesses and entrepreneurs could begin registering through its website on Aug. 12.
Invoices and payment links target online businesses
Alongside wallet settlement, the first version lets users send stablecoins and monitor incoming and outgoing payments. The dashboard is designed to put payment records, invoices, and checkout links in one place, according to the company.
For freelancers, a payment request can be created as an invoice or a link and sent directly to a client. Online businesses can use the same process to collect USDC or USDT without giving Morph control over the receiving wallet.
Morph presented the service as an option for cross-border payments and remote work, where bank transfers may pass through several institutions before reaching the recipient. Claims about payments arriving within minutes and providing faster access to working capital came from the company; the press release did not include independent performance data or customer results.
Renna Ba, Morph’s head of ecosystem, said businesses could eventually work with several stablecoins in much the same way that companies now handle different national currencies.
“The challenge isn’t creating more payment options—it’s making that complexity invisible so businesses can focus on growing, not managing payments.”
Although the comment points to support for multiple assets, the initial product is limited to USDC and USDT. Morph did not identify other stablecoins it may add or provide a schedule for expanding the list.
Morph Payments follows earlier network programs
The launch adds a user-facing product to Morph’s existing work on stablecoin infrastructure. In January, the network selected Cobo as its first partner for the Morph Payment Accelerator, a performance-based program tied to verified stablecoin volume on Morph’s mainnet.
Cobo provides custodial wallets, multi-party computation wallets, and wallet infrastructure across more than 80 blockchains. The January announcement said the partnership would focus on institutional stablecoin activity, including cross-border payouts and high-frequency settlement.
Morph Payments takes a different approach at the user-account level because the new service does not take custody of a business’s assets. Customers can still move stablecoins received through the platform to trading services or yield products built on Morph’s network, the company said. Participation in such services would involve separate platforms and risks not detailed in the payments announcement.
The company has not disclosed transaction targets, expected user numbers, or revenue projections for the product. Additional functions are planned over the coming months, but Morph did not specify which tools will be added or when they will become available.
Stablecoin payment tools are reaching more businesses
Morph cited Visa’s on-chain analytics showing $10.2 trillion in adjusted stablecoin transaction volume during the previous 12 months, a 65% increase from the comparable period. Visa’s adjusted measure is designed to filter activity that its methodology identifies as inorganic.
Separate research published by Morph in April estimated that stablecoins handled $33 trillion in total on-chain volume during 2025. As previously covered by crypto.news, the report attributed about 60% of the measured flows to business-to-business activity and projected more than $50 trillion in settlement volume during 2026. The figures are company estimates rather than audited financial results.
Other payment providers have also introduced stablecoin tools for corporate users. In July, Ramp launched stablecoin business accounts on Solana, allowing customers to hold USDC and USDT and send payments to vendors in more than 140 countries. Ramp also said its system could convert payments into more than 40 local currencies.
Ramp’s product combines stablecoin balances with its existing approval and accounting tools, while Morph’s release focuses on direct settlement to a wallet controlled by the business. Morph did not announce local-currency conversion, bank-account funding, or accounting software integrations.
U.S. stablecoin rules remain unfinished
American businesses considering stablecoin payment products operate under a federal framework that is still being implemented. President Donald Trump signed the GENIUS Act into law on July 18, 2025, establishing federal requirements for payment stablecoin issuers, including reserve, redemption, disclosure, and supervision standards.
The law primarily regulates issuers rather than every business that receives stablecoins. Its treatment of distribution remains relevant, however, because U.S. digital asset service providers will face restrictions on offering payment stablecoins from non-permitted issuers beginning in July 2028.
USDC and USDT are issued by Circle and Tether, respectively, rather than by Morph. The launch announcement did not state whether Morph Payments would be available in every U.S. state or identify the licenses and compliance procedures that could apply to American customers.
Federal regulators missed a July deadline for completing several rules required under the GENIUS Act. As of July 19, proposals covering reserves, redemptions, custody, customer identification, anti-money laundering controls, and state supervision had not all been finalized. The statute is scheduled to take effect by Jan. 18, 2027, unless final regulations start an earlier 120-day implementation period.
Pendle spustil na Morpho nový USDC vault, který už nasbíral zhruba 15,04 milionu USD a má podpořit likviditu na trzích s Principal Tokeny. Nabízí čistý roční výnos 14,08 %.
Pendle has rolled out a new USDC vault on the Morpho lending protocol, designed to funnel stablecoin liquidity directly into its Principal Token markets. The vault, which went live on August 4 and has already accumulated roughly $15.04 million in deposits, represents a deliberate effort to solve one of DeFi’s more persistent headaches: making sure borrowers can actually find the liquidity they need when using exotic collateral types.
For depositors, the pitch is straightforward. Park your USDC, earn a net APY of 14.08%, and collect weekly PENDLE token distributions on top of it. For the broader Pendle ecosystem, the vault acts as a liquidity engine for PT-backed borrowing, a market segment that has historically been constrained by shallow lending pools.
How the vault works The Ecosystem USDC vault was built in collaboration with Armitage, the curation arm of market maker Wintermute. Think of Armitage as the portfolio manager here: it decides where deposited USDC gets routed across Pendle’s various PT collateral markets on Morpho.
Right now, the allocation is almost entirely concentrated. Approximately 99.7% of funds flow into the PT-reUSD/USDC market, with smaller allocations directed toward PT-sUSDS and PT-USDG markets. That concentration isn’t random. It reflects where the borrowing demand actually lives.
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The utilization rate on the PT-reUSD market sits around 72%, which is a healthy number in DeFi lending. For context, utilization rates above 80% typically trigger rate increases to attract more lenders, while rates below 50% suggest tepid demand. At 72%, the market is busy enough to generate meaningful yield without creating the kind of liquidity crunch that makes depositors nervous about withdrawals.
The 14.08% net APY breaks down into two components. There’s a 4.75% base rate generated organically from borrow demand, plus an additional 9.32% sourced from PENDLE token rewards. That second figure is calculated after Morpho’s 5% performance fee, so the gross reward rate is slightly higher. Depositors also receive a weekly distribution of 7,500 PENDLE tokens, spread proportionally across all vault participants.
Why PT liquidity matters To understand why Pendle built this vault, you need to understand what Principal Tokens actually are. Pendle’s protocol separates yield-bearing assets into two pieces: the principal (PT) and the yield (YT). If you hold a stablecoin that earns 5% annually, Pendle lets you sell the future yield to someone else and keep just the discounted principal, or vice versa.
PTs trade at a discount to their underlying asset and converge to full value at maturity, functioning a bit like zero-coupon bonds in traditional finance. Traders use them in what’s called “PT-looping” strategies, where they borrow against PT collateral, buy more PTs at a discount, and repeat. The spread between the borrowing cost and the PT discount is the profit.
With up to $11.8 million in available borrowing capacity, the vault meaningfully expands the runway for these strategies.
The competitive landscape The vault sits at the intersection of two major DeFi trends: the modular lending stack and the tokenized yield market. Morpho, the protocol hosting the vault, has positioned itself as a permissionless lending layer where curators like Armitage can spin up bespoke lending markets without needing governance approval.
The 14.08% APY is competitive for a stablecoin-denominated product, particularly one that doesn’t require depositors to take on directional price risk. Most vanilla USDC lending rates on major platforms hover in the low-to-mid single digits, so the premium here comes almost entirely from the PENDLE token incentives.
That dynamic creates an important distinction for potential depositors. The base yield of 4.75% is sustainable as long as borrowing demand persists. The remaining 9.32% depends on Pendle continuing to allocate PENDLE tokens to the vault.
The concentration of 99.7% of assets in a single market, PT-reUSD/USDC, is worth watching. While it reflects current demand patterns, it also means depositors are effectively exposed to the credit risk and liquidity dynamics of that one market. Armitage’s role as curator suggests the allocation could shift over time as other PT markets mature, but for now, diversification this is not.
Disclosure: This article was edited by Editorial Team. For more information on how we create and review content, see our Editorial Policy.
Coinbase Business rozšiřuje platby o podporu AI agentů přes x402 a nově také USDT. Příchozí USDT se automaticky převádí na USDC a připisuje na účet Coinbase Business.
According to official announcements, Coinbase has announced that Coinbase Business is expanding its payment services to offer businesses more flexible payment collection methods and support a wider range of customers, including AI agents. A key highlight of this update is support for AI agent payments. As AI agents increasingly autonomously purchase digital services, make purchases on behalf of users, and even execute independent transactions online, traditional payment infrastructure is struggling to meet the demands of these machine-to-machine transactions. Coinbase Business now supports accepting AI agent payments via the open machine-to-machine payment standard x402, with funds settled instantly to business accounts in USDC; businesses can choose to earn interest on these funds or withdraw them at any time. Additionally, Coinbase Business’s payment suite now fully supports USDT, enabling businesses to collect USDT through payment links, checkout pages, and invoices. Collected USDT is automatically converted to USDC and settled to the business’s Coinbase Business account. Coinbase Business has also rolled out new features including reusable payment links, flexible pricing, a unified product catalog, and buyer information collection tools. Businesses can create a single reusable payment link, set payment limits, pause or deactivate links, and configure minimum or maximum payment amounts—ideal for use cases such as donations, tips, and service-based billing. They can also input product details once in the catalog and reuse this data across different payment methods, while collecting customer information like names, email addresses, and shipping addresses. For businesses new to crypto payments, Coinbase Business offers benefits including lower fees than credit cards, no chargebacks, instant USDC settlements, and the ability to earn interest on idle USDC balances.
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Payments platform Decta has integrated USDC into its internal treasury operations to settle company funds internationally through OpenPayd, without adding stablecoins to its customer-facing payment services.
Summary
Decta will use USDC to settle its own funds internationally through OpenPayd’s infrastructure. OpenPayd will convert Decta’s company funds into USDC through its OTC services for operational settlements. The integration is limited to Decta’s treasury operations and will not introduce stablecoins into customer-facing payment flows. Decta previously explored issuing a euro-pegged stablecoin under MiCA with France-based Next Generation. Decta said Tuesday that company funds will be transferred into OpenPayd’s regulated infrastructure, where they can be converted into Circle’s USDC through the financial infrastructure provider’s over-the-counter services before being used for international operational settlements.
The arrangement is limited to Decta’s own money rather than funds handled for merchants or other clients, keeping the stablecoin component behind the company’s existing payments business.
Lux Thiagarajah, chief commercial officer at OpenPayd, told crypto media that the integration represents a proprietary treasury use case and does not introduce USDC into Decta’s customer payment flows.
Using this setup, Decta can move its own funds between international entities, convert fiat into USDC when required and use the stablecoin for settlement through OpenPayd’s infrastructure. The company said the arrangement will support liquidity management while simplifying transfers across its operations.
Decta uses USDC for internal treasury settlements Decta CEO Scott Dawson said the company is using technology to make its financial operations faster, simpler and more resilient while retaining its existing controls and regulatory requirements.
Rather than allowing customers to pay merchants in stablecoins, Decta is using USDC as an operational settlement asset between parts of its business. Thiagarajah said OpenPayd handles the conversion through its OTC capabilities after Decta transfers its funds into the provider’s regulated infrastructure.
The distinction separates the arrangement from consumer-facing stablecoin payment products because Decta’s clients do not directly interact with USDC as part of the transaction process.
Decta, founded in London in 2015, provides payment processing, acquiring, card issuance, banking infrastructure and related services to businesses. According to the company’s announcement, it operates across 32 countries and serves hundreds of companies.
Its website describes the group as an end-to-end payments infrastructure provider covering acquiring, issuing and processing, with services including payment acquiring, BIN sponsorship, white-label card issuing, issuer and acquirer processing and digital banking infrastructure.
The USDC arrangement adds a blockchain-based settlement rail to Decta’s internal financial operations without requiring the company to change the payment products offered to its customers.
OpenPayd brings regulated USDC conversion into the process OpenPayd’s role in the arrangement follows the company’s expansion of its regulated digital asset services in Europe.
In June 2026, OpenPayd received MiCA authorization, which allows the London-founded financial infrastructure provider to offer regulated crypto services across the European Economic Area under a single authorization.
The approval covers fiat-to-stablecoin conversions, custody, wallet infrastructure and stablecoin transfers across supported blockchain networks, according to OpenPayd. The company secured the authorization shortly before the European Union’s MiCA transition period ended on July 1.
OpenPayd was founded in London in 2018 and connects traditional fiat payment infrastructure with digital assets. Its client base includes Kraken, eToro, OKX and institutional crypto liquidity provider B2C2, according to the Decta announcement.
Its USDC infrastructure was developed before the MiCA approval. Back in 2025, OpenPayd partnered with Circle to allow clients to convert between fiat currencies and USDC while managing both forms of money through the company’s financial infrastructure.
At the time, the companies said the integration was designed for uses including payments, treasury management and digital asset services. OpenPayd said it processed more than €130 billion annually when the partnership was announced.
The company has since built stablecoin functions that allow businesses to receive, hold, convert and send digital dollars alongside fiat balances. OpenPayd said in February that its infrastructure could also be embedded into existing treasury and payment workflows while supporting cross-border settlement.
Stablecoins are entering corporate treasury workflows Decta is not the only company testing stablecoins primarily as a treasury tool rather than as a consumer payment method.
In July, Hyundai Motor’s U.S. and Mexican operations completed a $20,000 cross-border treasury transfer using USDT on Avalanche, with the transaction settling in about seven minutes, as previously covered by crypto.news.
Tether said Hyundai Motor America converted dollars into USDT and transferred the tokens to Hyundai Motor Mexico, where the stablecoin was converted back into dollars. Hyundai Card designed the remittance structure while Axiym supplied settlement infrastructure, and the companies kept their existing compliance, accounting and treasury controls in place during the test.
The Hyundai pilot also followed a separate integration between Circle and treasury software provider Kyriba. According to the companies, Kyriba’s corporate clients can manage USDC balances alongside cash positions and use the stablecoin for eligible cross-border and intercompany transactions while retaining existing treasury approval procedures.
Business use of stablecoins has also extended into liquidity management. Bitso Business said in July that stablecoin transaction volume on its platform had increased 81% year over year during the first half of 2026, attributing the increase to demand for real-time settlement, treasury management and cross-border liquidity services. More than 60% of its newly onboarded business clients during the period were financial institutions, including banks and licensed payment providers, the company said.
Decta’s implementation differs from some of those pilots because the company is integrating USDC into an active internal treasury process through an external regulated infrastructure provider rather than announcing a customer stablecoin product.
Decta has previously explored a MiCA stablecoin The treasury integration follows Decta’s earlier work involving regulated stablecoins in Europe.
In August 2024, Decta Limited and France-based Next Generation said they were exploring the issuance of a euro-pegged stablecoin under the European Union’s Markets in Crypto-Assets Regulation, subject to receiving the necessary regulatory approval.
MiCA introduced specific requirements for stablecoin issuers and crypto service providers across the European Union, while authorization in one member state can allow eligible firms to passport their services across the bloc. The regulatory transition for crypto-asset service providers ended on July 1, 2026.
USDC has remained available within the regulated European market because Circle obtained the required authorization for the stablecoin, while several platforms restricted non-compliant assets as the MiCA transition ended.
For its latest implementation, however, Decta is not issuing a stablecoin or offering one to customers. Its funds are instead sent to OpenPayd, converted into USDC through OpenPayd’s OTC infrastructure and used for Decta’s own international operational settlements before the company continues managing its customer payment services separately.
Solana vede všechny blockchainy s přibližně 6 miliony měsíčních odesílatelů USDC. Síť v únoru dosáhla rekordních 650 miliard USD ve stablecoinových transakcích za jediný měsíc.
Solana now has more monthly USDC senders than any other blockchain, with the figure hitting approximately 6 million. That is not a rounding error or a one-month spike. It is the latest data point in a sustained climb that has turned Solana into the closest thing crypto has to a mainstream payments network.
For context, that sender count has grown more than tenfold since late 2023.
The numbers behind the milestone February 2026 was a watershed moment for the network. Stablecoin transaction volume on Solana hit $650 billion that month, a record for any blockchain within a single calendar month. That figure more than doubled the previous peak.
USDC makes up the majority of that stablecoin activity. The network is currently estimated to hold between $8 billion and $12 billion in USDC supply, supported by continuous minting operations that keep liquidity deep and user confidence stable.
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Weekly transaction counts on Solana have crossed 1 billion, underscoring that the 6 million sender figure is not an artifact of a few whales moving large sums. It reflects genuine, broad-based usage across the network.
The use cases driving this volume are notably mundane, in the best possible way. Salary disbursements, peer-to-peer transfers, and retail payments account for a meaningful share of activity.
Why Solana and why now Part of the answer is that USDC itself has matured. Circle’s stablecoin has increasingly become the default dollar-equivalent for on-chain commerce, and payment application developers picking a settlement layer have gravitated toward Solana’s combination of sub-second finality and fees that are measured in fractions of a cent.
Integration with consumer-facing payment applications has also accelerated the trend. Each new app that routes USDC through Solana adds another cohort of senders to the base, many of whom may not even know which blockchain they are using.
The tenfold growth in the sender base since late 2023 roughly tracks with the post-FTX recovery of the Solana ecosystem. After the FTX collapse created significant reputational damage, the network rebuilt its developer community and application layer faster than many observers expected.
What this means for the competitive landscape Ethereum remains the dominant chain for total stablecoin supply and DeFi activity. But Solana’s lead in monthly unique USDC senders points to a divergence in use cases. Ethereum is where large institutional flows and complex smart contracts tend to settle. Solana is where the transaction count lives.
For SOL as an asset, rising network utility generally creates sustained demand for the token, which is used to pay transaction fees. A billion weekly transactions, each consuming a small amount of SOL for fees, creates consistent buy pressure that is structurally different from speculation.
The next thing to watch is whether Solana’s stablecoin dominance in sender count eventually translates into a comparable lead in total stablecoin supply. Right now, Ethereum still holds the largest absolute stock of USDC across all chains.
Disclosure: This article was edited by Editorial Team. For more information on how we create and review content, see our Editorial Policy.
USDC supply on the Stellar network jumped 34.7% over the past 30 days, pushing the stablecoin’s market cap on the chain to $365.5 million. That’s a meaningful surge for a network that has quietly positioned itself as the go-to rail for cross-border payments and remittances.
The growth spurt didn’t happen in a vacuum. It tracks closely with Circle’s deployment of its Cross-Chain Transfer Protocol, known as CCTP, on Stellar back in May 2026. The protocol connects Stellar to 23 other blockchains, and it appears to be doing exactly what it was designed to do: make USDC flow more freely across the multi-chain landscape.
What CCTP changes about cross-chain USDC Before CCTP, moving USDC between chains typically meant relying on wrapped tokens or third-party bridges. Wrapped tokens introduce counterparty risk because you’re trusting an intermediary to back the wrapped version one-to-one. Bridges, meanwhile, have been the favorite target of hackers for years, with billions lost to exploits across DeFi.
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CCTP sidesteps both problems by using a burn-and-mint mechanism. When you send USDC from Ethereum to Stellar, the tokens on Ethereum are burned and new ones are minted natively on Stellar. No wrappers, no bridges, no middlemen holding your funds in a smart contract.
The protocol now connects Stellar to major ecosystems including Ethereum and Solana, giving users 23 blockchain destinations in total.
Circle’s data as of August 7, 2026, pegged the Stellar-specific USDC supply at roughly $360.5 million.
Stellar’s quiet rise as a stablecoin network USDC first landed on Stellar in February 2021, following an announcement the previous October. Since then, the network has processed over 4.5 million USDC transactions, with total payments volume crossing the $3 billion mark.
The $365.5 million in USDC on Stellar still represents a fraction of the stablecoin’s overall footprint. Total USDC circulation across all supported chains sits at nearly $72 billion as of early August 2026. Stellar’s share comes out to roughly 0.5% of the total supply.
Disclosure: This article was edited by Editorial Team. For more information on how we create and review content, see our Editorial Policy.
Na Binance je nyní k dispozici 2,61 miliardy XRP, což zvyšuje prodejní tlak. XRP kvůli poklesu tržní kapitalizace na zhruba 64 miliard USD klesl na šesté místo mezi kryptoměnami.
Over 2.6 billion XRP tokens are now available for sale on Binance, according to data from CryptoQuant. This sharp increase coincides with a period of heightened selling pressure and declining prices for the cryptocurrency.
Sharp increase in XRP supply on exchangesXRP, developed by Ripple Labs as a digital payment protocol, has seen a significant rise in tokens available for trade on Binance, one of the world’s largest cryptocurrency exchanges. As of August 8, the XRP balance on Binance reached 2.61 billion coins.
CryptoQuant reported that this surge highlights an ongoing trend where more XRP tokens are being deposited onto exchanges than withdrawn. This pattern typically signals that investors are preparing to sell, driving up supply and potentially placing additional downward pressure on price.
Recent exchange activity pointed to a situation where more XRP tokens were moved onto trading platforms, suggesting a wave of holders looking to liquidate as market sentiment remained negative.
The increase in exchange supply has occurred alongside a period of uncertainty in the broader cryptocurrency market, further undermining investor confidence in XRP’s short-term outlook.
Mini dictionary: CryptoQuant, a blockchain analytics platform that provides real-time metrics and insights about cryptocurrency exchange reserves, on-chain activity, and investor sentiment.
Market cap drop pushes XRP out of top 4XRP’s market capitalization sank to approximately $64 billion after a steep fall in price over the past week. This decline has pushed XRP out of the top four cryptocurrencies ranked by market cap.
Binance Coin (BNB) has now overtaken XRP in the rankings, and the token currently sits behind both Tether (USDT) and USD Coin (USDC)—the two largest stablecoins by market value. As a result, XRP is now the sixth largest digital asset in the market.
CryptocurrencyPrevious RankCurrent RankMarket CapXRP46$64 billionBNB54N/AUSDT33N/AUSDC65N/ADespite the negative sentiment, XRP experienced a brief upward movement, momentarily rebounding to around $1.04. However, persistent volatility and increased selling indicate ongoing investor caution.
XRP’s rapid drop in price and the shift in rankings reflect both market-wide volatility and waning investor confidence in the asset’s immediate prospects.
Disclaimer: The information contained in this article does not constitute investment advice. Investors should be aware that cryptocurrencies carry high volatility and therefore risk, and should conduct their own research.
USDC za něco přes pět týdnů klesl v cirkulaci o zhruba 1,5 miliardy USD na 71,8 miliardy USD. Asi 1 miliarda USD odešla během jediného týdne, což naznačuje vlnu vykoupení.
USDC’s circulating supply has dropped from $73.3 billion at the end of June to roughly $71.8 billion as of August 6, a decline of approximately $1.5 billion in just over five weeks. About $1 billion of that evaporated in a single seven-day stretch during late July and early August, pointing to a concentrated wave of redemptions rather than a slow bleed.
The contraction comes at an interesting time for Circle, which just posted Q2 2026 earnings on August 5 showing $701 million in revenue. The stablecoin issuer is making more money than ever while its product literally shrinks.
Supply down, usage up USDC’s circulating supply is still up 19% year-over-year compared to Q2 2025 levels. A $1.5 billion drawdown against a $73 billion base works out to roughly a 2% reduction.
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USDC processed $14.8 trillion in on-chain transaction volume during Q2 2026, a 151% increase compared to the same quarter last year. That’s roughly equivalent to the annual GDP of the European Union moving through a single stablecoin’s rails in just three months.
Where did the money go? The accelerated pace of redemptions in late July and early August, with roughly $1 billion leaving in a single week, does suggest some urgency behind the outflows. Whether that urgency came from a single large redeemer or a coordinated shift across multiple participants isn’t clear from the data alone.
Circle maintains weekly reserve disclosures and monthly attestations from Deloitte, its auditor, confirming that reserves in cash and short-duration US Treasuries match or exceed the outstanding supply. As of the most recent disclosure, that relationship holds.
Circle’s business keeps growing The Q2 earnings release shows $701 million in revenue and reserve income. Circle is essentially running a money market fund that doesn’t share returns with its customers, earning yield on Treasury holdings while paying depositors nothing.
Circle extended its partnership with Coinbase through 2029. Coinbase earns a share of the reserve income in exchange for promoting USDC across its platform.
Circle also secured federal and state trust bank approvals during 2026, a move that positions the company favorably as US stablecoin regulation takes shape.
Disclosure: This article was edited by Editorial Team. For more information on how we create and review content, see our Editorial Policy.
USA, Británie, EU a Hongkong zpřísňují pravidla pro stablecoiny a chtějí mít větší kontrolu nad přeshraničními převody. Cílí hlavně na dohled, zmrazení a trasování transakcí.
Regulators across the United States, United Kingdom, European Union, and Hong Kong are preparing to implement major new policies designed to give authorities the power to identify, freeze, or, in some cases, redirect cross-border stablecoin transfers. Stablecoins—digital assets pegged to currencies such as the US dollar or British pound—are now moving under stricter oversight, aligning more closely with rules applied to traditional financial institutions.
Regulatory push spans global jurisdictionsThese changes will have a broad impact on individuals and businesses sending or receiving payments through stablecoins across borders. Whether for remittances or corporate treasury operations, users of tokens tied to fiat currencies will see increased regulatory scrutiny. Although transactions on the blockchain occur quickly, the entry and exit points—often managed by exchanges—present an opportunity for authorities to monitor and intervene.
A number of major jurisdictions have advanced regulatory frameworks in recent months, with authorities moving from consultation to concrete rulemaking in a relatively short time.
US Treasury focuses on traceability and sanctionsThe US Treasury recently submitted proposed regulations via the Financial Crimes Enforcement Network, targeting stablecoin intermediaries and issuers for more comprehensive traceability. The proposals are a part of the implementation of the GENIUS Act, the federal stablecoin legislation, with a particular focus on reducing anonymity in transactions.
The Treasury illustrated the aim of these rules by announcing, on August 7, 2026, sanctions against crypto exchanges accused of supporting Iran’s Islamic Revolutionary Guard Corps. Another enforcement effort targeted networks allegedly connected to the Iranian regime’s secret currencies. The message emphasized that stablecoins held at exchanges remain subject to sanctions requirements similar to those faced by traditional correspondent banks.
Mini dictionary: GENIUS Act, a US federal law introduced to govern stablecoin issuance and enforcement related to anti-money laundering and sanctions compliance.
UK applies dual-layer regulatory frameworkThe United Kingdom is set to implement a two-tiered approach to stablecoin regulation. The Financial Conduct Authority (FCA) published its final rules on June 30, 2026, bringing fiat-backed stablecoin issuance and custody under the Financial Services and Markets Act. Stablecoins used for retail payments, meanwhile, will fall under the Payment Services Regulations, affecting firms authorized on or after October 25, 2027.
In addition, the Bank of England and the FCA, in a collaborative letter, set out criteria for overseeing “systemic” stablecoin issuers—those designated as systemically important by the Treasury under the Banking Act of 2009. The assessment will include factors such as scale, use, ease of substitutability, and future growth projections, expanding regulatory supervision over systemically relevant payment systems.
Mini dictionary: Financial Conduct Authority (FCA), the UK’s main financial regulatory body responsible for overseeing financial markets and protecting consumers.
MiCA drives change in EuropeThe European Union has already put its landmark MiCA law into effect, prompting changes among exchanges operating in the region. Under MiCA, major exchanges were required to remove USDT trading pairs for users in the European Economic Area, while USDC was allowed to remain available to customers. This regulatory approach has resulted in market share changes for these stablecoins.
Researchers Nicola Borri and Kirill Shakhnov found that USDC’s market share moved by 0.82 standard deviations and its relative trading volume grew by 0.54, as USDT volumes dropped in affected markets. Their findings, published in July 2026, concluded that gateway restrictions can significantly influence token usage without disrupting the broader network. The European Commission is reviewing MiCA’s effectiveness and is continuing consultations until at least August 31, 2026.
JurisdictionKey RegulationsMain ObjectiveBrazilDelays on suspicious transfers, tracks cross-border crypto flowsControl transaction speed and dataUSAnti-money laundering, sanctions, customer identification for issuersIdentify and monitor participantsEUMiCA defines which stablecoins are allowedRegulate token accessUKStablecoins fully enter payments regulationTreat as payment infrastructureHong KongLicenses issuers and manages cross-border risksBuild regulated payment railsSouth KoreaPrepares stablecoins for on-chain settlementIntegrates with broader financial marketsThe table shows varied approaches, ranging from controlling transaction speed in Brazil to full payments regulation in the UK. The US is emphasizing identification and sanctions controls, while the EU is focused on setting access rules through MiCA.
Asia eyes capital movementHong Kong enacted its Stablecoins Ordinance in August 2025, following up in April 2026 by approving two bank-backed issuers through its Monetary Authority. Regulated stablecoins are slated for launch before the year’s end.
Officials in Hong Kong have expressed concern that stablecoins could drain deposits from traditional banks and are working on measures to manage cross-border transfers and unregistered digital assets. Christopher Hui, Hong Kong’s Secretary for Financial Services and the Treasury, said the city’s approach is to apply equal regulation for similar activities and risks. Meanwhile, South Korea’s Financial Services Commission confirmed work is underway on a new digital-asset framework that will also cover stablecoins.
Mini dictionary: Hong Kong Monetary Authority, the central banking institution of Hong Kong, regulates and supervises financial institutions and issues banking licenses.
On-ramps and control pointsOfficials point to the role of on-ramps and off-ramps—where users exchange fiat for stablecoins or vice versa—as the main points for regulation. In a test by Italy’s central bank, Banca d’Italia, 200 USDC transfers were sent across 10 global remittance routes. Fees ranged from 0.30% to 8.96%, and transaction times varied from under 20 minutes to two days, with the blockchain itself contributing only a small portion of total costs.
The bulk of transaction friction and expense is found at these fiat-token conversion points. Exchanges, as on- and off-ramps, operate much like correspondent banks and exercise substantial control over access, pricing, and liquidity. Mastercard’s blockchain chief Raj Dhamodharan likened stablecoins to “rails,” describing each coin as similar to a global automated clearing house.
A payment system with clearly identifiable participants presents opportunities for regulatory oversight.
As stablecoins evolve from crypto-market instruments into payment infrastructure, regulators are moving oversight closer to the transaction itself.
While stablecoins initially drew interest for their speed and efficiency, the ongoing shift toward use in mainstream payments is prompting policymakers worldwide to build stricter, more comprehensive frameworks around their operation.
Disclaimer: The information contained in this article does not constitute investment advice. Investors should be aware that cryptocurrencies carry high volatility and therefore risk, and should conduct their own research.
Moonwell po schválení změny modelu úrokových sazeb zaznamenal na Ethereum mainnetu týdenní růst půjček USDC o 135 %. Půjčky USDT ve stejném období vzrostly o 87 %.
Moonwell, the decentralized lending protocol, saw USDC borrowing on its Ethereum mainnet markets jump 135% week-over-week, with USDT borrowing climbing 87% over the same stretch. The catalyst: a governance-approved overhaul of the protocol’s interest rate model curves for both stablecoins.
The numbers are striking on their own, but they’re actually a step down from even larger spikes in earlier weeks, when USDC borrowing surged 148% and USDT borrowing rocketed 236%.
What changed under the hood On July 29, 2026, Moonwell’s community passed a governance proposal that adjusted the interest rate model (IRM) curves for its USDC and USDT markets. The proposal also introduced borrowing rewards, meaning users now earn WELL tokens for taking out loans.
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Moonwell currently supports supply, borrowing, and incentive distribution across several assets on Ethereum, including USDC, USDT, ETH, and cbBTC. WELL token incentives are active across both sides of those markets, rewarding lenders and borrowers alike.
Moonwell’s multi-chain footprint The protocol isn’t operating exclusively on Ethereum. Moonwell runs across Ethereum, Base, and Optimism, giving it a presence on three of the more active networks in DeFi today.
One of its more notable tools is USDC Anywhere, which enables cross-network lending. The idea is to let users access USDC liquidity regardless of which chain they’re sitting on, reducing the friction that comes with having capital siloed across multiple Layer 1s and Layer 2s.
The Ethereum expansion itself is relatively recent. Moonwell launched its Ethereum mainnet lending markets in 2026, adding to its existing Base and Optimism deployments.
What this signals for DeFi lending The fact that borrowing increases have been sustained across multiple weeks, even if the percentage gains are moderating from 236% down to 87% for USDT, suggests something beyond pure mercenary capital chasing yield.
The governance mechanism Moonwell used to implement these changes is worth noting. Rather than a core team unilaterally adjusting rate parameters, the IRM curve modifications went through a community proposal and vote.
Disclosure: This article was edited by Editorial Team. For more information on how we create and review content, see our Editorial Policy.
Circle spustila 11. května Agent Stack, sadu nástrojů, která umožňuje autonomním AI agentům držet aktiva, objevovat služby a vypořádávat platby v USDC bez zásahu člověka. Zároveň oznámila úspěšný presale tokenu ARC za 222 milionů USD při valuaci 3 miliardy USD.
Circle just built a financial system where the customers aren’t human. The stablecoin issuer launched its Circle Agent Stack on May 11, a suite of tools that lets autonomous AI agents hold assets, discover services, and settle payments using USDC, all without a person clicking “confirm.”
What the Agent Stack actually does The stack has four main components, each solving a different piece of the autonomous-finance puzzle.
First, there’s the Circle CLI, a command-line interface that gives developers (and eventually agents themselves) a way to interact with Circle’s infrastructure programmatically.
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Second, Agent Wallets provide each AI agent with its own USDC-holding account. These wallets come with programmable guardrails, meaning developers can set spending policies, transaction limits, and approval rules before letting an agent loose.
Third, an Agent Marketplace acts as a discovery layer where agents can find services offered by other agents. If one AI needs data cleaning and another AI offers it, the marketplace handles matchmaking while USDC handles settlement.
Fourth, Nanopayments. These are near-instant, gas-free transactions processed through Circle Gateway that can be as small as $0.000001. Six decimal places of a dollar.
The ARC token and a new Layer-1 Circle also announced a successful presale of its ARC token, raising $222 million at a $3 billion valuation.
The ARC token powers Circle’s new Arc blockchain, described as a stablecoin-native Layer-1. Transaction fees on Arc are denominated in USDC rather than a volatile native token, removing the friction of users having to hold one asset to pay fees while transacting in another.
CEO Jeremy Allaire has framed AI agents not as tools that assist human customers but as customers themselves. The Agent Stack makes that framing concrete, with Circle treating software entities as first-class economic participants, complete with wallets, spending rules, and marketplace access.
Disclosure: This article was edited by Editorial Team. For more information on how we create and review content, see our Editorial Policy.
Výnosové vaulty Bitget na Morph dosáhly týden po spuštění uzamčené hodnoty 55 milionů USD. Produkt bgBTC běží na Bitget Exchange, strategie USDC přes Bitget Wallet.
Bitget's yield vaults on Morph, built with Gauntlet and Morpho, have reached a combined $55 million in total value locked one week after launch.
The bgBTC yield product went live on Bitget Exchange on July 31, followed by a USDC strategy on August 3 through the self-custodial Bitget Wallet. Onchain data shows roughly $32.1 million in BTC collateralized against the bgBTC vault, with $12.1 million in USDC borrowed against that collateral, and a separate $23.2 million deposited in a Gauntlet-managed vault on Morph. Morph provides the infrastructure connecting Bitget users to vault strategies that Gauntlet designs and manages, while Morpho supplies the underlying credit network.
The launch, announced jointly by the three companies on July 31, offers USDC depositors up to roughly 18% APY and bgBTC holders around 3%, with Chainlink's Cross-Chain Interoperability Protocol handling bgBTC transfers between Morph's Layer 2 and other chains.
"The future isn't about forcing users to learn new systems. It's about bringing opportunities to where users already are," Bitget CEO Gracy Chen said in the announcement. "By integrating onchain yield directly into the Bitget experience, we're removing friction between holding BTC and putting it to work."
Kate Wong, Morph's liquidity and DeFi lead, told Blockhead that the pace of early adoption signals that demand for onchain yield among centralized exchange users is genuine.
"We can ensure our products are built for that demand by collaborating with trusted curators and credit networks," Wong said. "The next phase is scaling that same model across more assets and more of the products people touch every day, so that digital assets no longer have to sit idle but can be put to work."
Morpho, which holds more than $11 billion in deposits and counts Coinbase, Bitwise and Société Générale among its institutional partners, is the credit network underwriting Gauntlet's vaults. Gauntlet itself manages more than $1.5 billion onchain across over 150 integrations, and Matt Dobel, the firm's VP of growth, said the Bitget deployment reflects the scale it's building toward.
Whether $55 million in TVL after one week holds up as a durable base, or reflects early-adopter incentives around a new yield product, will be the more telling number in the months ahead — particularly as Morph and Gauntlet look to extend the same vault model to other assets.
We’re excited to announce that USDC1 and CCTP are live on X Layer.
X Layer is a Layer-2 (L2) blockchain from OKX that is EVM compatible and supports a wide range of use cases including payments, AI-native workflows, DeFi activity, and more. With over 120 million global OKX exchange users, Circle’s new X Layer integrations aim to bring expanded utility by delivering trusted, interoperable, and regulated1 stablecoin infrastructure to OKX’s large and established trading ecosystem.
With the launch of native USDC and CCTP, X Layer gains access to a widely used and regulated1 dollar stablecoin. This unlocks dollar-denominated payments, crosschain money movement, agentic commerce, DeFi lending and borrowing, and more on a blockchain designed for transaction efficiency and speed, EVM compatibility, and AI-friendly and institutional-grade workflows.
Benefits of USDC on X Layer:
Regulated,1 fully reserved stablecoin redeemable 1:1 for USD2Institutional on/offramps with Circle Mint3 for qualified businessesEasy integration with X Layer apps and protocolsDollar-denominated payments, DeFi activity, and AI-powered transactionsCCTP on X Layer enables developers to:
Securely and efficiently move USDC between X Layer and other supported blockchainsKey use cases of USDC on X LayerNative USDC can help establish a trusted dollar-denominated ecosystem on X Layer. With MiCA compliance, full reserve backing, and 1:1 redeemability for dollars,2 USDC supports settlement, crosschain money movement, AI-powered workflows, and DeFi lending and borrowing. Establishing deep liquidity for USD/USDC trading pairs can support lower-slippage DeFi activity, settlement, and AI-driven applications at the scale institutions and enterprises need. Through CCTP, users and developers can move USDC securely across ecosystems.
Together, native USDC and CCTP can give businesses and developers on X Layer access to regulated1 fiat rails for institutional-grade trading, programmable payments, and DeFi activity.
Popular X Layer apps include: OKX and OKX DEX Bridge.
Bridged vs native USDC on X LayerX Layer also supports bridged USDC (USDC_Bridged), a non-native version of USDC that is bridged to X Layer from Ethereum. USDC_Bridged is not issued by Circle. The X Layer team plans to work with ecosystem apps and protocols to smoothly migrate USDC_Bridged liquidity to native USDC over time.
This gives X Layer the same native stablecoin features that are already available on other supported chains. There is no immediate impact to existing bridges and they will continue to operate normally. Bridged USDC will remain clearly labeled as “USDC_Bridged” in block explorers, app interfaces, and documentation.
Get started todayBusinesses can access institutional on/offramps to convert to USDC on X Layer by applying for a Circle Mint3 account. Individuals and smaller institutions can access USDC through various exchanges, wallets, and providers. Visit circle.com/usdc to learn more.
Get started today with our developer docs for USDC and CCTP. USDC is an open-source, permissionless stablecoin protocol that anyone can build with.
1 USDC is issued by regulated affiliates of Circle. A list of Circle’s regulatory authorizations can be found here.
2 Circle Mint customers are able to redeem USDC directly from Circle. In addition, Circle will redeem all USDC presented to it for redemption in compliance with MiCAR, regardless of whether the holder is a Circle Mint customer. Circle Mint is currently available only to institutions and is not available to individuals.
3 Circle Mint and money transmission services are provided by Circle Internet Financial, LLC. Circle Internet Financial, LLC, NMLS # 1201441, is a licensed provider of money transmission services. A full list of Circle’s licenses can be found here. Circle Mint is currently available only to institutions and is not available to individuals.
Bernstein po výsledcích za 2. čtvrtletí 2026 znovu potvrdil pro Circle doporučení Outperform a cílovou cenu 140 USD. Firma vidí menší obavy z konkurence stablecoinů a růst USDC.
PANews, August 7 – According to The Block, research firm Bernstein reiterated an "Outperform" rating on Circle after the company released its Q2 2026 financial results, maintaining a $140 target price, viewing the latest performance as a "counter-validation" of bearish market views.
Bernstein analysts said that the two core market concerns about Circle—intensifying stablecoin competition and changes in the interest rate environment that could impact reserve income—underestimate the long-term growth potential of USDC, as well as Circle's advantages in distribution channels, liquidity, and regulatory compliance. Investors may not yet have fully priced in Circle's future revenue opportunities from transaction fees, partner ecosystem, and the Arc blockchain.
The firm specifically pointed out that a number of infrastructure initiatives recently advanced by Circle, including obtaining a U.S. national trust bank charter, expanding the Circle Payments Network, and the planned mainnet launch of the Arc public blockchain on September 16, could all become future growth drivers.
In addition, Bernstein noted that Circle has raised its guidance for 2026 other income and profit margin after distribution costs, expecting to recognize approximately $180 million in Arc token pre-sale revenue. Analysts believe that future Arc staking income, gas fees, and ecosystem partnership revenues are not yet fully reflected in current valuation expectations.
As of the end of Q2, USDC circulating supply was $73.3 billion, down 5% quarter-over-quarter but up 19% year-over-year. Bernstein believes that Circle is shifting from a pure crypto trading infrastructure to payments, real-world asset (RWA) tokenization, and broader financial infrastructure, which will drive the next phase of growth for USDC.
Circle shares closed at $63.28 on Wednesday. Bernstein's $140 target price implies roughly 121% potential upside.
Circle spustila Discovery API, které umožňuje AI agentům vyhledávat a porovnávat služby přijímající platby v USDC bez přihlášení. Služby v marketplace jsou předem prověřené kvůli souladu se sankcemi a provozní spolehlivosti.
Circle just made it easier for AI agents to shop around. The USDC issuer rolled out a Discovery API on July 31 as part of its broader Agent Stack platform, giving autonomous software a way to browse, filter, and evaluate services that accept USDC payments, all without a human logging in.
What the Discovery API actually does The API works as a public endpoint, meaning AI agents can query it without user authentication. Most financial APIs require some form of login or credentialing before you can even browse what’s available.
The endpoint supports 14 query parameters for filtering results. Agents can search by category, blockchain, pricing, and other criteria to find services that match their specific needs. Every service listed in the marketplace has been pre-screened, which means agents aren’t just finding random endpoints. They’re discovering counterparties that have already passed compliance checks.
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The Discovery API builds on Circle’s Agent Stack, which launched on May 11 alongside the company’s Q1 2026 earnings. That initial release included Agent Wallets for autonomous fund management, a Nanopayments system for small machine-to-machine transfers, and an Agent Marketplace where services could list themselves for discovery by other agents.
The stack is designed to be chain- and protocol-agnostic, with initial support spanning Arbitrum, Base, and Ethereum.
Why this matters for USDC and stablecoin competition The compliance angle is worth lingering on. Every service in the Agent Marketplace undergoes screening for sanctions compliance and operational health before it’s discoverable through the API.
For the broader stablecoin market, Circle’s agent-focused strategy raises an interesting competitive question. Tether dominates in trading volume and overall circulation, but it hasn’t made comparable moves toward machine-to-machine infrastructure.
By launching across Arbitrum, Base, and Ethereum simultaneously, Circle is hedging against blockchain platform risk while maximizing the addressable developer population. Developers building on any of those chains can integrate the Discovery API without migrating their existing stack.
Disclosure: This article was edited by Editorial Team. For more information on how we create and review content, see our Editorial Policy.
Coinbase spustila v Británii obchodování 24 hodin denně, 5 dní v týdnu s téměř 4 000 americkými akciemi pro oprávněné uživatele, s nulovou komisí a nákupem už od 1 GBP. Tím dál rozšiřuje svou platformu mimo čistě kryptoměnové obchodování.
Coinbase started rolling out 24/5 trading in nearly 4,000 US stocks for eligible UK users, letting them buy and sell American equities. The crypto exchange begins a phased launch today, with zero-commission trades, fractional shares from as little as £1, and instant funding via GBP or USDC.
Coinbase positions the move as a step toward its “Everything Exchange” vision and claims it is the first crypto-native app to offer U.S. equities in the UK.
Stock Trading Is Now Available on Coinbase for UK Users In an official announcement on August 6, Coinbase revealed the 24/5 stock trading rollout to all users in the UK. Eligible UK customers can buy, sell, and hold US stocks alongside crypto and fiat in the same app.
“We see a future where the divide between how an investor manages traditional investments and digital assets disappears,” said the crypto exchange.
The trading hours extend beyond the normal hours, with zero commission and fractional shares. Users can start trading stocks with as little as £1. However, fractional trading is not available outside of normal US trading hours.
The orders will get routed through Coinbase Capital Markets and cleared and settled by a third party. Users can fund positions directly with GBP and USDC. Moreover, Coinbase One members will earn uncapped rewards on their USDC balances.
Coinbase UK CEO Keith Grose highlighted features such as 4000 US equities including top AI companies. He added that more features are coming soon.
UK users now have one place for stocks + crypto!
Excited for this @coinbase launch with a top offering:
– 24/5 trading hours
– Zero commission
– Start with £1 with fractional shares
– 4,000 US equities including top AI companies
– Trade in GBP or USDC (+ uncapped USDC rewards… https://t.co/yI57EGiBDF
— keith grose 🇬🇧🇺🇸 (@kmgrose) August 6, 2026
The launch comes after Coinbase secured a MiFID investment services license from the Financial Conduct Authority. This enabled UK users to trade derivatives and equities alongside crypto assets.
For investors interested in how digital assets are bridging traditional markets, choosing one of the best exchanges for tokenized stocks can unlock seamless multi-asset trading portfolios.
COIN Stock Price Surges Coinbase stock (COIN) showed modest gains during the premarket trading hours on Thursday. COIN stock closed 0.56% lower at $149.89 on Wednesday, with a high of $153.99.
The stock trading expansion in the UK continues Coinbase’s push to diversify beyond pure crypto trading volume into a multi-asset platform. Coinbase stock price prediction warned about a drop to $139 as JPMorgan CEO Jamie Dimon highlighted market risks amid high leverage.
Meanwhile, Coinbase CEO Brian Armstrong urged Senators to pass the Clarity Act after Senator Josh Hawley publicly announced plans to vote ‘No’ on the current crypto bill version that raised concerns for banks.
“You have to evaluate the proposal on the merits, and see if there is any evidence for such a claim,” Brian Armstrong told Senator Josh Hawley.
Circle ve 2. čtvrtletí zvýšila tržby a rezervní výnosy o 7 % meziročně na 701 mil. USD, zatímco objem USDC v oběhu vzrostl na 73,3 mld. USD. Akcie CRCL přesto klesly o 0,41 %.
Key HighlightsStablecoin Expansion Drives Q2 Financial PerformanceArc Network Rollout Strengthens Institutional PositioningPayment Infrastructure and Regulatory Wins Accelerate GrowthGet 3 Free Stock Ebooks Circle’s Q2 revenue increases 7% year-over-year as USDC circulation hits $73.3 billion. Quarterly onchain transaction volume for USDC jumps 151% to reach $14.8 trillion. Arc public mainnet scheduled for September 16 launch with leading financial institutions as validators. Company receives federal and New York trust charters for digital asset custody services. CRCL shares decline 0.41% despite positive quarterly performance and institutional momentum. Circle (CRCL) shares declined 0.41% to close at $62.99 even as the company posted solid second-quarter results driven by USDC expansion and institutional adoption. The stablecoin issuer reported revenue gains, increased network activity, and significant progress in its blockchain infrastructure initiatives. Trading saw early gains evaporate during morning hours before shares stabilized in afternoon trading.
Circle Internet Group, CRCL
Stablecoin Expansion Drives Q2 Financial Performance Circle posted $701 million in combined revenue and reserve income for the second quarter, representing 7% growth versus the prior year period. Reserve income totaled $668 million, supported by a 25% year-over-year increase in average USDC circulation. However, declining reserve return rates tempered what otherwise would have been stronger income expansion.
The quarter closed with USDC circulation standing at $73.3 billion, up 19% from the same period last year. Onchain transaction volume surged dramatically, climbing 151% to $14.8 trillion across all supported blockchain networks. Circle’s meaningful wallet count reached seven million, showing 24% annual growth.
The company swung to a profit of $48 million in net income from continuing operations, compared to a substantial loss in the year-ago quarter. Much of this improvement stemmed from reduced stock-based compensation expenses following Circle’s 2025 public market debut. Adjusted EBITDA grew 8% to $143 million, benefiting from higher reserve income generated by expanding circulation.
Arc Network Rollout Strengthens Institutional Positioning Circle announced that Arc’s public mainnet will go live on September 16, featuring privacy capabilities and programmable finance infrastructure. The platform is designed to facilitate tokenized real-world assets and agent-driven payment solutions. Over 100 institutional participants and ecosystem developers are currently building applications for the network.
Arc’s founding validator group includes prominent names such as BlackRock, DTCC, Galaxy, Mastercard, Visa, ICE, and Standard Chartered. These institutions will play critical roles in network security while developing settlement infrastructure and digital asset solutions. BlackRock has announced intentions to deploy its BUIDL tokenized liquidity fund natively on the Arc network.
DTCC is working to enable tokenized asset support through its securities custody platform. BNY, Standard Chartered, and additional financial institutions are exploring various use cases including custody services, settlement mechanisms, and stablecoin integration. These collaborations position Circle strategically within both traditional finance and emerging blockchain-based capital markets.
Payment Infrastructure and Regulatory Wins Accelerate Growth Circle broadened USDC availability through new partnerships with BNY, JCB, Nium, Grupo Bind, and Standard Chartered. These collaborations focus on custody solutions, cross-border payment rails, local currency conversion, and institutional-grade stablecoin services. Kakao Group has also begun evaluating USDC payment infrastructure for deployment in South Korea.
Circle Payments Network achieved $14.7 billion in annualized transaction volume by the end of the quarter. This represents a 76% sequential increase from the prior quarter, while the number of participating institutions grew 29% to reach 175. The platform also saw significant adoption for agent payments, with USDC settling 99.3% of x402 transaction volume.
On the regulatory front, Circle received approval for Circle National Trust, granting the company a national trust bank charter from federal regulators. New York state regulators simultaneously approved Circle New York Trust as a limited-purpose digital asset company. These dual approvals lay groundwork for expanded custody operations and potential future management of USDC reserve assets.
USDC za posledních 12 měsíců přidal zhruba 8 miliard USD na tržní kapitalizaci a vyšplhal na asi 72 miliard USD. Circle zároveň cílí na nabídku v objemu 150 miliard USD ve druhé polovině roku 2026.
A year ago, USDC had a market cap problem. Not a crisis, exactly, but a hangover from the 2023 Silicon Valley Bank collapse that had spooked the market and handed Tether a comfortable lead. Fast forward to August 2026, and Circle’s stablecoin has quietly added roughly $8 billion in market cap over the past twelve months, bringing its total to approximately $72 billion.
The numbers behind the comeback USDC’s market cap reached $75.12 billion in January 2026, representing 73% year-on-year growth. For context, Tether’s USDT grew 36% over the same period.
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The $7.9 billion increase over the past year lands USDC at around $72 billion in circulating supply as of early August 2026. Circle has now set its sights considerably higher, targeting a USDC supply of $150 billion in the second half of 2026, up from $112 billion earlier this year.
USDC is now natively supported on more than 35 blockchain networks as of late June 2026. Its Cross-Chain Transfer Protocol, known as CCTP, allows USDC to move between chains without the liquidity fragmentation that plagues most bridged assets. Instead of locking tokens on one chain and minting synthetic copies on another, CCTP burns USDC on the source chain and natively mints it on the destination.
The regulatory tailwind Circle just captured On July 31, 2026, Circle received a limited-purpose trust charter from the New York Department of Financial Services for its Circle New York Trust entity. A limited-purpose trust designation gives Circle formal authority to offer fiduciary and custody services.
What this means for the stablecoin market USDC’s 73% growth versus USDT’s 36% over the same year suggests something is shifting at the margin. USDC’s reserves, primarily cash and short-term U.S. Treasuries, are regularly attested and publicly disclosed.
USDC is natively supported across 35-plus blockchains and Circle’s $150 billion supply target, up from $112 billion earlier this year, carries implications for the broader market. The NYDFS trust charter opens doors for custody services and fiduciary capabilities, allowing Circle to compete for institutional clients seeking a regulated bridge to on-chain markets.
Disclosure: This article was edited by Editorial Team. For more information on how we create and review content, see our Editorial Policy.
Circle vykázala ve 2. čtvrtletí 2026 výnosy z rezerv ve výši 701 mil. USD, meziročně o 7 % více, a upravená EBITDA vzrostla o 8 % na 143 mil. USD. USDC v oběhu přesáhl 73 mld. USD.
Circle reported $701 million in second-quarter 2026 total revenue and reserve income, up 7% year over year, while adjusted EBITDA increased 8% to $143 million and net income reached $48 million, the company said Wednesday.
The stablecoin issuer said USDC in circulation exceeded $73 billion at quarter-end, up 19% year-over-year, while USDC onchain transaction volume surged 151% to $14.8 trillion.
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The company said the Circle Payments Network reached $14.7 billion in annualized transaction volume across 175 financial institutions, while its Agent Stack exceeded 900 paid services, with nearly all x402 agent-payment volume settled in USDC.
Circle also outlined major product and institutional milestones. Arc, its new layer 1 blockchain, now has more than 100 builders ahead of its September 16 mainnet launch and will debut with privacy features, AI-powered agent infrastructure, and support for tokenized real-world assets.
The firm announced founding validators including BlackRock, DTCC, Visa, Mastercard, Galaxy, Standard Chartered, ICE, MoneyGram, SBI Group, Sumitomo Corporation, and Global Payments, while confirming that BlackRock’s BUIDL fund and DTCC’s tokenization infrastructure are expected to integrate with the network.
Circle also expanded its USDC adoption through partnerships with BNY, Standard Chartered, Nium, JCB, Grupo Bind, Kakao Group, and Marex during the quarter. Other highlights include regulatory approval to establish Circle National Trust from the US Office of the Comptroller of the Currency and Circle New York Trust from the New York Department of Financial Services.
Disclosure: This article was edited by Editorial Team. For more information on how we create and review content, see our Editorial Policy.
Circle oznámila, že BlackRock, DTCC, Mastercard a Visa budou mezi zakládajícími validátory jejího blockchainu Arc. Veřejný mainnet má být spuštěn 16. září 2026.
BlackRock, DTCC, and Mastercard are joining Circle's Arc as validators, while BUIDL is expected to deploy on the network after launch.
USDC stablecoin issuer Circle has announced the founding validator cohort for Arc, its open blockchain network. It is currently in private mainnet with more than 100 ecosystem and institutional builders.
Circle said the network is on track for a public mainnet launch on September 16, 2026.
Behind Circle’s New Blockchain According to the official post, the founding validator group includes BlackRock, The Depository Trust & Clearing Corporation (DTCC), Galaxy, Global Payments, ICE, Mastercard, MoneyGram, SBI Group, Standard Chartered, Sumitomo Corporation and Visa. Circle said the group represents a model in which institutions building on the network also help secure it.
The aim is to create a foundation of trusted and globally distributed operators that can support secure and scalable on-chain financial applications. BlackRock is also expected to deploy BUIDL, the BlackRock USD Institutional Digital Liquidity Fund, on Arc through the network’s native USDC integration.
The setup is intended to let institutional investors subscribe to, redeem, and deploy fund assets within one on-chain environment.
Circle is also working with DTCC to enable the tokenization of assets custodied by The Depository Trust Company on Arc beginning in the second half of 2027. The main objective is to let market participants use third-party applications on the blockchain for stablecoin-native settlement outside DTC against DTC-tokenized assets. DTCC said the integration supports its multi-chain strategy.
DTC-tokenized assets will continue to carry the same protections, rights, and safeguards available to investors holding assets traditionally.
You may also like: Italy’s Biggest Bank Cuts IBIT Exposure by 94% While Buying More Staked Ethereum BlackRock Backs CLARITY Act as Tom Lee Predicts Programmable Money Revolution Circle’s IBM Patent Deal Brings Nearly 1,000 Blockchain Patents Commenting on the latest development, Mastercard Chief Product Officer Jorn Lambert said,
“As stablecoins and other digital assets move into real-world payments, settlement, and treasury flows, Mastercard is focused on helping customers operate across an increasingly diverse payments ecosystem. Our participation as a founding validator on Arc reflects that commitment — supporting trusted, interoperable infrastructure that can help connect emerging blockchain networks with the broader financial systems businesses rely on every day.”
Arc Product Suite Arc is also expected to have a range of applications and services available from day one. DeFi protocols and capital allocators including Aave, Aerodrome, FalconX, Galaxy, GSR, Keyrock, Morpho, Nonco, Uniswap and XFX will support borrowing, trading and on-chain capital deployment.
Meanwhile, payment providers Rain, Thunes and Wirex have been tasked with routing stablecoin payment and settlement flows. Binance Wallet, Chainlink, Fireblocks, Kraken, Ledger, MetaMask, Uniswap Labs and Upbit, on the other hand, will enable access to USDC on Arc, custody and cross-chain asset movement.
At launch, Circle plans to introduce a product suite around Arc, which includes tools for common on-chain workflows, AI-powered applications and smart contract development, tokenized real-world asset management and interfaces for developers, users and agents.
Circle obnovila dohodu s Coinbase za stávajících podmínek, takže USDC zůstane klíčovou součástí produktů Coinbase. Coinbase dál dostává veškerý úrok z USDC na své platformě a polovinu zbytku mimo ni.
Jeremy Allaire, founder and CEO of Circle, the issuer of USDC, stated during tonight’s earnings call: “We have renewed our agreement with Coinbase under existing terms, ensuring USDC remains central to all of Coinbase’s product offerings. We also look forward to expanding our USDC network via distribution deals with strategically aligned partners.” The collaboration agreement between Circle and Coinbase, signed on August 18, 2023, stipulates that Circle—USDC’s sole issuer—shares interest revenue generated from USDC reserve assets with Coinbase: Coinbase will receive 100% of reserve interest from USDC held on its platform, plus 50% of the remaining reserve interest from USDC held off its platform. The agreement has an initial three-year term and an automatic renewal mechanism.
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Samsung Wallet začne podporovat nativní stablecoiny, ale emitenta, blockchain ani model úschovy aktiv zatím neprozradil. Na pódiu ukázal mockup USDC, bez potvrzeného partnerství s Circle.
Samsung Wallet will support native stablecoins after the Galaxy Unpacked announcement, but the issuer, chain, and custody model remain undisclosed. The $408 million Dunamu investment and a pending South Korean digital asset law reveal the infrastructure play behind the headline.
Summary
Samsung announced native stablecoin support for Samsung Wallet at Galaxy Unpacked on July 22, 2026, with a USDC mockup displayed on stage, though no partnership with Circle has been confirmed. Three Samsung affiliates paid $408 million for a combined 4% stake in Dunamu, the operator of South Korea’s largest crypto exchange Upbit, purchasing 1.39 million shares from Kakao linked entities. Samsung SDS identified stablecoin infrastructure as its first collaboration priority with Dunamu during its second quarter 2026 earnings call on July 30. Samsung Wallet has nearly 19 million users in South Korea and operates across 61 countries, with 241 million Galaxy phones shipped in 2025. Neither the stablecoin issuer, blockchain network, custody model, launch date, nor eligible markets have been confirmed by Samsung. Samsung has spent seven years building a crypto footprint inside Galaxy phones. The blockchain keystore arrived with the Galaxy S10 in 2019, offering a hardware isolated vault for private keys. Ledger integration followed the same year. Coinbase came aboard in July 2025, giving 75 million United States Galaxy owners a direct path into crypto purchasing through Samsung Pay. By October 2025, Samsung Wallet users could access the Coinbase One membership program, with its zero trading fees and boosted staking rewards, without leaving the Samsung interface.
None of those steps changed how most people pay for groceries. A crypto wallet buried three menus deep inside a phone settings screen does not compete with a tap to pay terminal. Samsung appears to understand this distinction. At Galaxy Unpacked 2026 on July 22, product manager Lee Dinham said the company would embrace “new forms of digital value, including stablecoins” and described Samsung Wallet as “the foundation for an interconnected financial ecosystem across Galaxy devices and services.” The on stage mockup showed a USDC balance with send, receive, and add funds buttons.
The audience saw a direction, not a product. Samsung disclosed no issuer, no blockchain, no custody arrangement, no launch window, and no list of eligible countries. That gap between announcement and specification is where the real story lives, because Samsung is not simply adding another feature to a phone. It is assembling infrastructure, regulatory positioning, and distribution into a single strategy that could reshape how stablecoins reach ordinary consumers, or could stall at the mockup stage if the missing pieces do not come together.
What the Unpacked announcement actually said Lee Dinham’s remarks at Galaxy Unpacked covered two sentences of substance. Samsung Wallet would support stablecoins. Samsung intended to become “one of the first major mobile brands to bring native stablecoins to a smartphone, enabling fast and trusted digital value transfers.”
The demo showed a wallet interface labeled USDC with three action buttons. Samsung did not confirm a partnership with Circle, the issuer of USDC, and did not respond to press inquiries about the demo before publication of multiple news reports. Cointelegraph, CryptoSlate, and CoinDesk each noted that Samsung had not answered their requests for comment on partner, chain, or timeline details.
Samsung promoted the figure of 800 million smartphones that would carry stablecoin features by default. That number is the company’s target for devices with Galaxy AI by end of 2026 and does not represent Samsung Wallet users, stablecoin eligible devices, or phones that will actually receive the feature at launch. The company’s own figures show nearly 19 million Samsung Wallet users in South Korea alone, but Samsung did not disclose global active wallet numbers or existing crypto user counts.
Alongside the stablecoin announcement, Samsung introduced the Galaxy Card, its first United States credit card, issued by Barclays on the Visa network. The card offers 5% cash rewards on Samsung direct purchases, 3% on Samsung Wallet purchases, 2% on streaming services, and 1% on everything else, with a $200 welcome bonus and no annual fee. The Galaxy Card and the stablecoin roadmap are separate products, but they share the same strategic objective: making Samsung Wallet the single financial hub for Galaxy owners.
JUST IN: Samsung Wallet to add native stablecoin support
A mockup at Galaxy Unpacked featured USDC though no launch date or chain has been confirmed pic.twitter.com/Rp2iiuTsqC
— crypto.news (@cryptodotnews) July 25, 2026 Samsung Wallet already carries crypto, and that context matters The stablecoin announcement did not arrive in isolation. Samsung has been layering crypto services into its mobile ecosystem since 2019, and each layer narrows the gap between blockchain assets and the tap to pay experience that consumers actually use.
The Samsung Blockchain Keystore launched with the Galaxy S10, using the Knox security platform to store private keys in a hardware isolated environment. The wallet supported Bitcoin, Ethereum, and Tron, with ERC and TRC token compatibility. In 2019, Samsung added support for Ledger Nano S and Nano X hardware wallets, allowing users to connect external cold storage directly to a Galaxy device.
These were enthusiast features. They did not integrate with Samsung Pay or the broader wallet experience. The Coinbase partnership in 2025 changed the integration model. Samsung Pay became a funding method inside the Coinbase app for users in the United States and Canada. By October 2025, Samsung Wallet offered direct Coinbase access to Galaxy users, including a promotional three month Coinbase One subscription and trading credits for first time crypto purchasers.
The progression matters because each step moved crypto closer to the interface that Samsung controls. It also taught Samsung what works and what does not in consumer crypto distribution. The 2019 keystore was a standalone feature. The 2025 Coinbase integration brought crypto into the Wallet app. The 2026 stablecoin plan, if executed as shown, would make a digital dollar balance native to the same interface where users store credit cards, boarding passes, and loyalty programs.
The $408 million Dunamu stake is the infrastructure half While the Unpacked stage showed a consumer interface, a parallel investment reveals Samsung’s infrastructure ambitions.
In May 2026, Samsung Securities, Samsung SDS, and Samsung Card agreed to acquire a combined 4% stake in Dunamu, the operator of Upbit, South Korea’s largest cryptocurrency exchange, for 612.8 billion won, approximately $408 million. Samsung Securities purchased a 2% stake, while Samsung SDS and Samsung Card each acquired 1%. The shares came from Kakao linked entities, with the transaction set to close on June 19.
Each affiliate brought a distinct strategic interest to the deal. Samsung Securities plans to work with Dunamu on tokenized securities issuance, distribution, and digital asset services. This builds on earlier infrastructure work: Samsung SDS had already been selected to build South Korea’s tokenized securities system, giving the company direct experience with the blockchain rails that tokenized assets and stablecoins share. Samsung Card is exploring opportunities in digital payments, particularly around a potential won pegged stablecoin, and intends to integrate its payment network with Dunamu’s ecosystem through Samsung’s Monimo financial platform. Samsung SDS plans to combine its artificial intelligence, cloud, and cybersecurity capabilities with Dunamu’s blockchain operating expertise.
Joseph Goh, director and head of Asia Pacific at crypto investment banking firm Areta, told CoinDesk that “the wallet announcement secured distribution; SDS and Dunamu will secure the infrastructure beneath it.” He described the Dunamu investment as “the more telling half” of Samsung’s strategy, arguing that Samsung aims to build the infrastructure itself rather than rely on third party providers.
The Dunamu deal followed Hana Bank’s agreement in May to buy a 6.55% stake in the same company for approximately $670 million. The concentration of Korean financial institutions investing in Dunamu reflects a broader pattern: established firms are positioning themselves before South Korea’s digital asset regulatory framework takes final shape.
Samsung SDS names stablecoins as the first collaboration priority The clearest statement of intent came not from Galaxy Unpacked but from a corporate earnings call five days later.
On July 30, Samsung SDS president Lee Joon hee told analysts during the company’s second quarter earnings conference call that the Dunamu investment was made “to enter the digital asset infrastructure business rather than as a financial investment.” He said Samsung SDS had been discussing stablecoin infrastructure, AI powered next generation payments, and virtual asset financial system integration with Dunamu.
These comments, reported by crypto.news on July 31, marked the first time a Samsung executive publicly identified stablecoins as the specific focus of the Dunamu partnership. The earnings call also revealed that Samsung SDS reported 17% cloud revenue growth and a 75% increase in external cloud business during the second quarter, with plans to expand AI infrastructure from 110 megawatts to more than 800 megawatts by 2031.
Samsung SDS is the Samsung Group’s information technology services arm, not a consumer electronics division. Its involvement signals that Samsung views stablecoin infrastructure as an enterprise technology opportunity, not merely a phone feature. The company’s existing capabilities in cloud computing, AI, and cybersecurity could support backend systems for stablecoin issuance, custody, or settlement, though no specific product or architecture has been disclosed.
Separately, Samsung has been selective about external stablecoin ventures. Earlier in July, Samsung distanced itself from the OUSD stablecoin consortium proposed by Open Standard after being listed as one of more than 140 founding partners. A Samsung official told South Korean newspaper Chosun that the company had not held official consultations with Open Standard and did not know what role it was expected to play. Dunamu, Shinhan Bank, and K Bank also said they were still reviewing the proposal.
The regulatory window Samsung is trying to enter Samsung’s timing is deliberate. Both the United States and South Korea are implementing or drafting stablecoin frameworks, creating a regulatory environment where early positioning carries strategic value.
In the United States, President Trump signed the GENIUS Act into law on July 18, 2025, after the Senate passed it 68 to 30 and the House approved it 308 to 122. The law created the first federal regulatory framework for payment stablecoin issuers, with a staged effective date giving existing issuers two years to become compliant. By July 2028, non compliant stablecoins can no longer be offered to United States users.
The GENIUS Act provides regulatory clarity that Samsung needs before offering stablecoin balances to American Galaxy owners. A Samsung Wallet stablecoin feature in the United States would need to work with a GENIUS Act compliant issuer, a licensed custodian, and a blockchain settlement layer that meets the law’s requirements for reserve transparency and redemption rights. The law requires payment stablecoin issuers to maintain one to one reserves in high quality liquid assets such as United States Treasury securities, insured deposits, or central bank reserves. Issuers must also publish monthly attestations of reserve composition audited by a registered accounting firm. For Samsung, these requirements mean the choice of issuer directly constrains the product design. A compliant issuer brings a clear redemption pathway and regulatory standing. A non compliant issuer would leave Samsung exposed to enforcement risk in its largest single country market.
JUST IN: Stablecoin issuers have two years to become compliant under GENIUS Act
July 2028 marks the deadline when non compliant stablecoins can no longer be offered to U.S. users pic.twitter.com/PsPyra0yXp
— crypto.news (@cryptodotnews) July 20, 2026 In South Korea, the Financial Services Commission is preparing the Digital Asset Basic Act, a comprehensive framework that would bring 10 separate crypto and stablecoin bills under one legislative umbrella. The draft, unveiled in April 2026, requires stablecoin issuers to obtain authorization, maintain 100% or greater reserves in high quality assets such as bank deposits or government bonds, and ensure full redemption rights for holders. Stablecoins used in cross border or foreign exchange transactions would be classified as “means of payment” under the Foreign Exchange Transactions Act.
Passage has stalled in the National Assembly over a central dispute: who should be authorized to issue Korean won pegged stablecoins. The Bank of Korea has pushed for a rule limiting issuance to bank led consortiums holding at least 51% ownership. Implementation is targeted for late 2026 or 2027.
The Bank for International Settlements has separately described how stablecoin assets deployed across different blockchains may not move seamlessly between them, resulting in fragmented liquidity and reliance on bridges that introduce operational risk. A Samsung implementation on one network would place that network on the default route offered through Wallet. A multichain design could expose more routes while introducing the cross network interoperability problem into the consumer experience. Samsung has disclosed neither a network selection nor a transfer architecture.
Goh of Areta described Samsung’s positioning as intentional. He believes Samsung aims “to be positioned in both dollar and won stablecoins while Korea’s framework is still being discussed.”
What Samsung gains that Apple and Google do not have The competitive landscape offers Samsung a window, but the window is narrower than the headline suggests.
Neither Apple Pay nor Google Wallet offers native stablecoin support. Both route crypto transactions through third party partners. Apple has shown no public interest in integrating stablecoin balances into Apple Wallet, and Google Pay’s crypto features remain limited to select partner integrations.
Samsung’s advantage is specific: it controls the wallet interface, the hardware security layer through Knox, and now holds an equity position in major crypto infrastructure through Dunamu. No other smartphone manufacturer combines consumer distribution, hardware security, and exchange level infrastructure investment in a single corporate ecosystem. Google has partnered with Coinbase and BitPay for limited crypto card functionality in Google Wallet, but those integrations stop at the card layer and do not extend to native token balances. Apple has taken no public steps toward stablecoin integration and has historically maintained strict control over financial features within Apple Wallet, limiting third party crypto access to standalone apps.
The scale numbers, however, require careful reading. Industry projections put Apple Pay at 71.6 million United States proximity payment users in 2026 and Google Pay at 42.6 million, compared to 15 million for Samsung Pay. Samsung ships more phones globally, with 241 million units in 2025 according to IDC data, but its mobile payments market share in the United States remains smaller than Apple’s.
Yat Siu, executive chairman of Animoca Brands, described Samsung’s move as “a feature set rather than an attempt to build a super app.” The integration could give Samsung an advantage over Apple and Google in serving crypto users, he said, but applications and merchants will need to make stablecoins useful for everyday spending. Samsung is an investor in Animoca Brands.
Robby Yung, CEO of Investments at Animoca Brands, agreed that the move is positive for crypto adoption but was “not sure that this puts Samsung at an advantage over crypto native platforms.”
The case against Samsung as a stablecoin distributor The bull case for Samsung’s stablecoin play rests on distribution: 800 million phones, 61 countries, a wallet already storing cards and credentials. The bear case rests on execution and on Samsung’s history with crypto features that never reached mainstream usage.
Samsung Blockchain Keystore launched in 2019. Seven years later, Samsung has not disclosed how many Galaxy owners have ever opened it. The company has not published active crypto user counts for Samsung Wallet. The Coinbase integration announced in October 2025 targeted 75 million United States Galaxy owners, but Samsung has not said how many of those owners actually activated crypto features. The gap between “available on” and “used by” is typically enormous in preinstalled mobile features.
The 800 million figure is a device target for Galaxy AI, not a stablecoin user projection. Samsung has nearly 19 million Wallet users in South Korea but has not provided a global number. If stablecoin support launches in only a subset of the 61 countries where Samsung Wallet operates, the addressable market could be substantially smaller than the headline implies.
The Coinbase precedent is instructive. Samsung announced the partnership targeting 75 million United States Galaxy owners in October 2025. Eight months later, Samsung has not disclosed activation rates, transaction volumes, or the share of those 75 million owners who engaged with any crypto feature. If past performance is any guide, default availability and actual adoption are separated by an order of magnitude.
There are also structural questions. If Samsung’s stablecoin feature works through a partner held account, the distribution benefit sits with the partner, not with Samsung. If the feature requires multiple steps to activate or fund, adoption will follow the same pattern as previous crypto features: available to many, used by few. If Samsung selects a single issuer for default placement, it risks regulatory complications in markets where that issuer is not licensed.
Ben Nadareski, CEO and co founder of Solstice, acknowledged the potential but framed the challenge precisely. The broader picture, he said, is “distribution catching up to liquidity.” For years, crypto had deep trading venues and weak paths into daily spending. Samsung Wallet points the other direction, but the path from a mockup at a product launch to a functioning stablecoin payment at a checkout terminal involves decisions Samsung has not yet made public.
The strongest counterargument to the Samsung stablecoin thesis is that the company announced a direction without a product. Every critical design choice, including which issuer backs the balance, which chain settles the transaction, who holds custody, and which markets receive the feature first, remains undisclosed. Until those decisions are public, the announcement describes potential, not capability.
What to watch Samsung names an issuer or custody partner. The choice of stablecoin and custodian will determine whether Samsung controls the user relationship or hands it to a third party. A Circle or Tether selection would signal dollar denominated ambitions. A won pegged issuer would signal a Korea first strategy.
South Korea’s Digital Asset Basic Act reaches a floor vote. The stalled legislation determines whether Samsung Card and Dunamu can issue or distribute a won pegged stablecoin. If the Bank of Korea’s 51% bank ownership rule survives, Samsung would need a banking partner to participate.
Samsung discloses global Wallet user counts or crypto activation rates. The gap between phones shipped and wallets activated is the single most important metric for evaluating the distribution thesis. Without it, the 800 million figure remains a ceiling, not a forecast.
Samsung Wallet stablecoin feature enters a public beta or limited launch in any market. A beta in South Korea, the United States, or another regulated market would confirm that the product has moved from mockup to implementation. The absence of a timeline makes this the clearest indicator of execution pace.
Apple or Google announces competing stablecoin integration. If a rival smartphone ecosystem moves first, Samsung’s window advantage narrows. If neither moves, Samsung’s early positioning holds more strategic value.
What stablecoins will Samsung Wallet support? Samsung has not confirmed which stablecoins will be supported. The Galaxy Unpacked demo showed a USDC interface, but the company has not announced a partnership with Circle or any other issuer. The final selection could include dollar pegged, euro pegged, or won pegged tokens depending on regulatory approvals and partnership agreements.
When will Samsung Wallet stablecoin support launch? Samsung has not disclosed a launch date. The feature was announced as part of the company’s 2026 roadmap at Galaxy Unpacked on July 22, but no beta date, rollout schedule, or market launch order has been provided.
Which blockchain will Samsung Wallet use for stablecoins? The blockchain network has not been confirmed. Samsung’s choice of chain will determine settlement speed, transaction costs, and interoperability with other wallets and exchanges. A single chain selection would place that network on Samsung’s default route, while a multichain approach would add complexity.
How does Samsung’s Dunamu investment relate to the stablecoin wallet? Samsung Securities, Samsung SDS, and Samsung Card acquired a combined 4% stake in Dunamu, operator of South Korea’s largest exchange Upbit, for $408 million. Samsung SDS has publicly identified stablecoin infrastructure as the first collaboration priority, indicating that the investment supports the backend systems needed for Samsung Wallet’s stablecoin features.
Will Samsung Wallet stablecoin features work with Samsung Pay at retail terminals? Samsung has not confirmed point of sale functionality. If the feature allows users to top up a stablecoin balance and tap to pay at NFC terminals that accept Samsung Pay, it would represent a meaningful advance over existing crypto payment solutions. However, this functionality has not been demonstrated or announced.
How does the GENIUS Act affect Samsung’s stablecoin plans in the United States? The GENIUS Act, signed into law in July 2025, created the first federal regulatory framework for payment stablecoin issuers. Samsung would need to work with a GENIUS Act compliant issuer and custodian to offer stablecoin balances to United States Galaxy owners. The law gives existing issuers until July 2028 to become compliant.
Does Samsung plan to issue its own stablecoin? Samsung has not announced plans to issue a stablecoin. The company’s announcements focus on supporting existing stablecoins within Samsung Wallet and building infrastructure through its Samsung SDS partnership with Dunamu. Samsung Card has expressed interest in won pegged stablecoin opportunities, but this refers to distribution and payments, not issuance.
Is Samsung Wallet a safe place to hold stablecoins? Samsung has not disclosed the custody model for stablecoin balances in Samsung Wallet. The safety of any stablecoin holding depends on the custody arrangement, the issuer’s reserve backing, and the regulatory framework governing both. Samsung’s Knox security platform provides hardware level key isolation for existing crypto features, but the stablecoin feature’s security architecture has not been detailed. This is educational analysis, not investment advice.
This article is for informational purposes only and should not be considered financial or investment advice. The views expressed are those of the sources cited and do not necessarily reflect those of crypto.news. Readers should conduct their own research before making any financial decisions. Published August 5, 2026.
US Crypto Regulations : Read the full US Regulation Hub for the latest on SEC enforcement, IRS crypto tax rules, and pending legislation.
Circle a Dinari spustily platformu pro tokenizované obchodování s americkými akciemi a chtějí dostat všechny složky S&P 500 na blockchain. Obchody mají probíhat přes USDC v self-custody peněženkách.
PANews August 4 news, according to Fortune magazine, tokenized securities company Dinari, headquartered in California, USA, announced a partnership with stablecoin issuer Circle to provide U.S. investors with blockchain-based tokenized stock trading services, and plans to bring all S&P 500 index constituents onto the blockchain.
Dinari stated that its platform represents underlying stocks through “dShares,” where each token corresponds to real securities held in custody by regulated institutions. Investors can buy and sell stocks using USDC via self-custody wallets, with support for instant settlement, cross-platform asset transfers, and other features.
The company said the model aims to connect the roughly $300 billion stablecoin market with the more than $60 trillion U.S. stock market. The Dinari platform is currently live in 85 jurisdictions and supports over 6,000 tokenized assets.
Dinari co-founder and CEO Gabriel Otte said that in the future, stock tokens themselves could become the trusted ledger of stock ownership. With the tokenized asset market growing rapidly, bringing traditional securities onto the blockchain is becoming a key area of exploration for financial institutions.
Sei Network se chystá integrovat Dinari a nabídnout první self-custodial portfolio amerických akcií na své vrstvě 1. Přístup má zahrnout 724 tokenizovaných akcií, včetně všech firem z S&P 500, se zúčtováním v USDC.
Sei Network Prepares to Launch Tokenized U.S. Equity Trading@SeiNetwork is gearing up to integrate @DinariGlobal, a move that would bring the first self-custodial U.S. equity portfolio to the high-speed Layer 1 blockchain. The upcoming launch is set to give investors access to 724 tokenized stocks, including every company in the S&P 500, settled directly in @Circle's $USDC.
Dinari's dShares platform enables tokenized U.S. stocks and ETFs that preserve the rights and protections of traditional securities, including guaranteed redemption at the National Best Bid and Offer, cash dividends, and automated corporate actions. As an SEC-registered transfer agent, Dinari has built infrastructure that enables broker-dealers, exchanges, fintechs, and other regulated financial institutions to issue, custody, trade, and service tokenized securities within the existing regulatory framework.
The integration bridges what proponents describe as the $75 trillion U.S. stock market with Sei's high-performance infrastructure. Sei offers sub-400ms finality, a parallelized EVM, and a modular architecture that supports continuous optimization. That speed makes T+0 settlement and 24/7 liquidity operationally viable for both domestic and international participants, something traditional equity markets, which close on weekends and settle on a T+1 cycle, have long been unable to offer.
A Broader Push to Put U.S. Equities OnchainThe Sei integration is part of a broader expansion by Dinari across multiple blockchain environments. Bitcoin.com announced a partnership with Dinari in May 2026 to offer tokenized U.S. equities to its ecosystem, giving users of the Bitcoin.com Wallet access to over 300 tokenized U.S. equities and ETFs. Dinari and tZERO also joined forces to create a turnkey platform for tokenized U.S. equities for broker-dealers, packaging issuance, trading, custody, settlement, and shareholder servicing into one regulated framework.
On August 4, 2026, Dinari announced the expansion of its U.S. operations to financial institutions via its broker-dealer subsidiary Dinari Securities LLC, allowing broker-dealers, banks, fintechs, and wealth platforms to offer tokenized securities products and services to both retail and institutional customers.
The regulatory backdrop is also shifting in Dinari's favor. Dinari recently joined the Blockchain Association, the leading trade association representing the digital asset industry in Washington, D.C., to contribute its expertise as policymakers continue shaping the future of tokenized securities. The Sei Network integration, once live, would represent one of the most direct on-ramps yet for crypto-native investors seeking exposure to mainstream U.S. equities without leaving self-custody.
Sources:
Dinari Joins Blockchain Association to Advance Tokenized Securities Policy - Chainwire
Dinari and tZERO Join Forces on Tokenized U.S. Equities Platform - CoinDesk
Bitcoin.com Partners with Dinari to Bring Tokenized U.S. Equities to a Global Audience - GlobeNewswire
Circle Gateway nově nativně podporuje ERC-1271, takže peněženky chytrých kontraktů mohou přímo podepisovat a spravovat USDC bez prostředníka. Funkce je nasazena na Ethereum, Base, Arbitrum a Avalanche.
Circle just removed one of the more annoying friction points in the USDC ecosystem. Circle Gateway now natively supports ERC-1271, the Ethereum standard that lets smart contracts validate signatures, meaning smart contract wallets can directly sign and manage USDC balances without needing a delegate account as an intermediary.
What changed and why it matters Circle Gateway is the company’s cross-chain infrastructure layer, designed to give users a unified, non-custodial USDC balance accessible across multiple blockchains in under 500 milliseconds. The problem was that Gateway’s “burn intents,” the mechanism for moving USDC out, required signatures from externally owned accounts (EOAs). Smart contract wallets couldn’t produce those signatures natively, requiring a delegate-account system — essentially a middleman EOA that would sign on behalf of the smart contract.
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ERC-1271, formally known as EIP-1271, solves this by establishing a standard way for smart contracts to verify signatures. Over 50 protocols already use it, including Uniswap. Circle’s adoption means Gateway now speaks the same language as the broader smart contract ecosystem.
The rollout has been systematic, going live across Ethereum, Base, Arbitrum, and Avalanche.
Gateway vs. CCTP: different tools, different jobs Circle already has a cross-chain product called the Cross-Chain Transfer Protocol (CCTP). CCTP handles point-to-point transfers. Gateway does something fundamentally different: it provides a unified balance that’s accessible from any supported chain without requiring you to bridge or pre-fund on each network. The non-custodial design includes a 7-day trustless withdrawal option. Gateway’s architecture uses a combination of smart contracts and off-chain attestation services to achieve sub-500-millisecond access times.
USDC’s total supply sits at roughly $75.6 billion as of June 2026.
The account abstraction angle Account abstraction wallets have repeatedly hit walls when protocols only support EOA signatures. The v2.2 release back in 2023 first introduced EIP-1271 for authorization functions, but the full integration into Gateway’s burn-intent flow took until now. More than 50 protocols already support ERC-1271.
Disclosure: This article was edited by Editorial Team. For more information on how we create and review content, see our Editorial Policy.
S&P Global Ratings uvedla, že 6 z 11 sledovaných stablecoinů má nyní dostatečnou nebo vyšší schopnost udržet peg k fiat měně. $USDT dostal nejhorší hodnocení 5 (weak).
Six of 11 Stablecoins Rated Adequate or AboveS&P Global Ratings (@SPGlobalRatings) has released an update to its Stablecoin Stability Assessment (SSA) framework, finding that six of the 11 stablecoins covered by its assessments now have an adequate or above ability to maintain their peg to fiat currency. The agency cited progress among issuers as a key factor, with stronger asset quality and good risk management practices driving the improvement.
S&P's SSAs use a five-level scale: 1 (very strong), 2 (strong), 3 (adequate), 4 (constrained), and 5 (weak). The assessments consider factors including asset quality, governance frameworks, regulatory compliance, redeemability, liquidity, and track record. Leading the pack, $EURC and $USDC both carry a score of 2 (strong), as does $USDG, which received its first assessment in February 2026, and $USDP, which was also rated 2 (strong).
$USDT Holds the Weakest Score Despite Dominating the MarketThe contrast at the bottom of the rankings is notable. S&P Global Ratings gave $USDT the weakest possible assessment: 5 (weak) on its 1 to 5 scale. $TUSD and Ethena's $USDe share that bottom tier. S&P noted that "significant differences remain across stablecoins which can increase the risk of de-pegging."
That low rating sits in sharp contrast to $USDT's dominance in the broader market. Tether's $USDT is the largest stablecoin at roughly $187 billion in circulating supply, accounting for about 59% of the total stablecoin market. Over the past three quarters, S&P revised two of its 11 SSAs to a weaker level, while the other nine remained unchanged.
The update underscores a growing divide in how institutional-grade analysis views stablecoin quality versus raw market adoption. While regulated, transparent issuers such as Circle and Paxos score well on S&P's framework, the market's most widely used token continues to attract the agency's lowest rating, a tension that regulators and institutional investors are likely to scrutinize more closely as the stablecoin sector matures.
Sources:
S&P Global Ratings press release: More than half of Stablecoin Stability Assessments are adequate or above (PR Newswire, August 4, 2026)
S&P Global Ratings: Stablecoin Stability Assessments overview
Stablecoin market cap data, June 2026 (Transak)
Spuštění Open USD vyvolalo obavy o USDC a smazalo miliardy z tržní hodnoty Circle, ale Coinbase, Visa i Mastercard nyní říkají, že chtějí podporovat více stablecoinů současně.
Jeremy Allaire, cofounder, chairman and CEO of Circle speaks at Hong Kong Fintech Week in 2024. (HK Fintech Week)Summary
The launch of Open USD, backed by Coinbase, Visa and Mastercard, initially sparked fears of a direct challenge to Circle’s USDC and wiped billions from Circle’s market value.Executives at Coinbase, Visa and Mastercard now say they are pursuing a multi-stablecoin, multi-chain strategy, positioning Open USD as an additional network rather than a replacement for USDC.Analysts say many Open USD partners have made only light commitments and that execution and existing liquidity in USDC and USDT will matter more than the size of Open USD’s consortium.When Open Standard announced Open USD a month ago, investors quickly interpreted the backing from Coinbase (COIN), Visa (V) and Mastercard (MA) as a direct challenge to Circle (CRCL) and its $72 billion USDC stablecoin.
The announcement erased billions of dollars from Circle's market value. Shares fell as much as 20% — and have yet to recover — as the consortium unveiled more than 140 launch partners, fueling concerns that some of USDC's largest commercial partners were lining up behind a rival digital dollar.
The reaction highlighted a broader shift in the stablecoin market. Once dominated by a handful of crypto-native issuers like Circle, the sector now is drawing banks, payment networks and fintech firms eager to issue or distribute digital dollars as regulation clears the way for wider adoption. With that, the competitive battle is increasingly extending beyond issuing tokens to securing the payment rails, exchanges and financial platforms that put them into users' hands.
Recent earnings calls from Open USD's highest-profile backers, however, paint a more nuanced picture. Executives at Coinbase, Visa and Mastercard all said they intend to support multiple stablecoins instead of betting on a single winner, describing Open USD as another network to connect to rather than a replacement for USDC.
Multi-coin strategyDuring its second-quarter earnings call last week, Coinbase reassured investors about its close relationship with Circle. Chief Financial Officer Alesia Haas said the exchange has already met the conditions to renew its commercial agreement with Circle and will continue growing the USDC ecosystem.
CEO Brian Armstrong also said Coinbase remains a "multi-stablecoin platform" and wants to support whichever stablecoins customers choose to use. The exchange already supports USDC alongside Tether's USDT and PayPal's PYUSD, he said, with Open USD creating "additional business opportunities and revenue opportunities."
Ryan McInerney, CEO of Visa, struck a similar tone during his firm’s earnings call, describing the company as "multi-coin, multi-chain" and saying that Visa's role is to help clients connect to whichever stablecoins gain adoption.
"Our role is not to pick winners," he said.
Notably, Visa offered the first live example of pushing Open USD to customers. The firm last month launched its Visa Stablecoin Platform, giving banks, fintechs and payment providers tools to access, store, redeem and move stablecoins, with OUSD serving as the initial supported token.
Mastercard CEO Michael Miebach said the company already supports USDC, Paxos-led Global Dollar Network (USDG) and other stablecoins, describing Open USD as "another coin that we will enable across our network."
"Choice has always been a key criteria and will be the same here in stablecoins," he said.
Miebach described Open USD as a payments-focused utility with shared economics, while acknowledging governance would not involve all 140-plus partners. "Otherwise we wouldn't move anything forward," he said. The firm – and recently acquired BVNK — are also listed as ecosystem members of USDG, another consortium-governed stablecoin project that includes Robinhood among its members.
An Open Standard spokesperson did not comment on the executives remarks and governance behind the project, adding that the firm will share more details at launch later this year.
Support versus commitmentThe executives' comments suggest that observers may have read too much into Open USD's kick-off partner list, analysts noted.
"It is becoming increasingly clear that the commitment from OUSD's partners is closer to a soft LOI [letter of intent] than a strategic bet," Lorenzo Valente, director of digital asset research at ARK Invest, wrote on X. "Supporting OUSD is very different from committing meaningful resources, distribution, or balance sheet to making it win."
Amey Dandawate, director at Bluechip Ratings, told CoinDesk that joining the consortium amounts to "a free option" that allows companies to participate if Open USD gains traction without making meaningful upfront commitments.
Others cautioned that execution will be more important than the — otherwise impressive — size of the partner list.
Owen Lau, managing director at Clear Street, said the market overreacted to the initial announcement. USDC and Tether's USDT already benefit from deep liquidity and network effects, he said, making adoption a much bigger challenge than signing up partners.
"It is very difficult to align the interests of so many partners with different incentives and agendas," Lau said. Still, he said the participation of Visa, Mastercard and Coinbase could help accelerate stablecoin use in consumer payments regardless of which token ultimately gains the most traction.
Dragonfly general partner Rob Hadick said the executives reinforced his view that Stripe remains the driving force behind Open USD, while Visa and Mastercard have commercial reasons to remain neutral because they work with competing issuers.
"Their businesses require them to not alienate partners and customers," Hadick told CoinDesk. "They may push OUSD, but they must be open."
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The Evolution of the Crypto CEX Landscape: A Case Study on Binance
The Evolution of the Crypto CEX Landscape: A Case Study on Binance
Binance remains crypto’s leading exchange, expanding from spot and derivatives into RWAs, payments, savings, yield, and broader financial services.
Jun 29, 2026
Binance remains crypto’s leading exchange, expanding from spot and derivatives into RWAs, payments, savings, yield, and broader financial services.
Why it matters:
Binance remains crypto’s leading exchange, expanding from spot and derivatives into RWAs, payments, savings, yield, and broader financial services.
Ondo Finance vybrala Arbitrum jako settlement layer pro depozity USDC na Ondo Perps, takže obchodníci mohou financovat pozice přímo na Arbitrum bez bridge.
@OndoFinance has selected @Arbitrum as the settlement layer for $USDC deposits on its @OndoPerps platform, allowing traders to fund equity-linked perpetual futures positions directly from the Arbitrum network without bridging to a separate chain first.
Expanding Access at a Critical Moment The integration arrives as Ondo Perps is posting some of the strongest early-stage growth numbers in the on-chain derivatives space. Ondo Perps, launched in early July, surpassed $300 million in daily volume by late July with nearly $6 billion in cumulative trading volume. Open interest on the platform stands at more than $75 million. The milestone came less than one month after Ondo Perps went live on July 7, making it one of the fastest-growing platforms focused on real-world asset perpetual futures.
By adding Arbitrum as a supported deposit network, the protocol lowers the friction for a large pool of potential users. Arbitrum is a Layer-2 network designed to make Ethereum transactions faster and cheaper using Optimistic Rollups, which reduces congestion on the Ethereum network, lowering fees and speeding up execution times. As of early 2025, more than $3.5 billion of USDC was in circulation on Arbitrum, giving the integration an immediately sizeable addressable base of capital.
What Ondo Perps Offers Traders Ondo Perps is a platform where global non-US users can trade perpetual futures on leading U.S. stocks and ETFs 24/7 with leverage. The platform accepts tokenized real-world assets as collateral alongside stablecoins, meaning traders who already hold tokenized equities can post them directly as margin rather than sourcing a separate pool of stablecoins. The platform offers up to 25x leverage on tokenized stock collateral, with CEX-equivalent execution speeds.
Perpetual trading for tokenized equities and commodities including AAPL, AMZN, MSFT, NFLX, NVDA, TSLA, QQQ, gold, and silver is available on the platform. Spot holdings and perp positions are managed on the same platform, allowing traders to hedge without moving capital across multiple venues.
The Arbitrum integration extends a broader multichain strategy at Ondo. Polygon, Mantle, Arbitrum, and BNB Chain are among the networks Ondo has used as part of a multichain deployment strategy to distribute tokenized products and reach different liquidity environments. Adding native $USDC settlement on Arbitrum for Ondo Perps deepens that relationship and positions the protocol to capture derivatives volume from one of Ethereum's most active Layer-2 ecosystems.
Sources:
Ondo Finance: Introducing Ondo Perps
TheStreet Crypto: Ondo Perps breaks past $300M in 24-hour volume
USDC.com: How to Get USDC on Arbitrum
Kamino spustilo na Solaně nový vault Commodity Yield pro USDC s cílovým výnosem zhruba 7 % až 8 %. Otevřel se s limitem vkladů 25 milionů USD a výběry mohou být zpožděné.
4 August 2026 | 07:53 Kamino announced a new product called Kamino Institutional Yield, designed to connect capital held on Solana with credit markets outside crypto.
Key Takeaways Commodity Yield targets approximately 7% to 8% and opened with a $25 million deposit cap. Depositors receive kicUSDC, representing their share of the vault and its accrued yield. Withdrawals depend partly on loans being repaid, so immediate access is not guaranteed at every size. The higher target return comes with offchain legal, operational and counterparty risks. For users already moving USDC between DeFi lending markets in search of better returns, a target yield of 7% to 8% will immediately stand out.
Kamino’s new Commodity Yield vault offers that return by financing short-term commodity trades rather than lending against crypto collateral. Users keep an onchain position through Solana, but the money ultimately depends on commodity traders, banks, escrow agents, insurers and legal agreements operating outside the network.
That is the central trade-off. Depositors gain access to a form of institutional credit that is normally difficult for individuals to reach, while giving up some of the liquidity and transparency associated with automated onchain lending.
Kamino describes the product as institutional-grade credit brought onto Solana through its new Kamino Institutional Yield platform.
Say hello to institutional-grade credit on Solana via @kamino https://t.co/jRD0vNVbtj
— Solana (@solana) August 3, 2026
What Happens After You Deposit USDC Users deposit USDC into the Commodity Yield vault and receive kicUSDC. That token represents their proportional interest in the strategy and reflects the yield generated by its underlying loans.
Kamino says the capital is deployed through a fund structure regulated by the Cayman Islands Monetary Authority, or CIMA. The fund then finances short-duration commodity transactions.
Solana handles the deposit, vault accounting and ownership token. The borrowers, goods, escrow balances, insurance and repayment agreements remain offchain.
This means owning kicUSDC is different from lending USDC through a conventional DeFi money market. Depositors are exposed to the performance of a managed credit portfolio rather than a visible pool of crypto-backed loans controlled mainly by smart contracts.
How a Commodity Trade Produces the Yield Kamino explains the process through an example involving a copper trader.
The trader agrees to buy copper from a wholesaler for $9 million and sell it to an end buyer for $10 million. The supplier wants payment before shipping, while the buyer pays only after receiving and inspecting the copper.
The trader needs temporary financing to bridge that gap.
Capital from the Kamino vault is provided through a special-purpose vehicle and fund structure. The money is placed in a segregated escrow account that the wholesaler can verify before releasing the shipment.
The copper is insured while in transit. Once it arrives and passes inspection, the escrow account pays the supplier. The end buyer later pays the amount agreed in the sales contract, allowing the trader to repay the financing with interest.
The interest paid by the trader becomes revenue for the vault and contributes to the return received by kicUSDC holders.
The transaction begins with an identified supplier, buyer and commercial margin. Even so, shipment delays, disputed goods, fraud, borrower failure or problems enforcing contracts can still interrupt repayment.
What Withdrawals May Look Like in Practice Kamino says withdrawals can be completed immediately while the vault has enough available USDC in its liquidity buffer.
When redemption requests exceed that buffer, depositors may need to wait for outstanding loans to mature. The underlying money cannot always be returned instantly because part of it may still be financing goods that have not completed their commercial journey.
Someone withdrawing a small amount during normal conditions may receive USDC quickly. A larger request, or many users withdrawing at once, could create a queue until borrowers repay their loans.
Before depositing, users should check whether Kamino discloses:
The size of the vault’s liquid USDC buffer. The average duration of outstanding loans. How queued withdrawals are processed. Whether redemptions can be paused or delayed. Any fees charged when entering or leaving the vault. This product is therefore unsuitable for money that may be needed immediately. A 7% to 8% target becomes less attractive if the depositor cannot tolerate waiting for repayment during stressed conditions.
Collateral Helps, but Recovery Can Still Take Time Kamino says the loans are supported by physical commodities and/or cash held in 1:1 escrow accounts with tier-one banks.
Cash escrow can offer relatively direct protection because funds have already been placed with a bank. Physical collateral is more complicated. Goods may need to be located, inspected, legally seized and sold before lenders recover their money.
The value of a commodity can also change while a dispute is being resolved. Insurance may cover damage or loss during shipping without covering fraud, contractual disputes or every form of borrower failure.
“Fully collateralized” therefore describes the assets intended to support the loan. It does not promise instant or complete recovery in every default scenario.
The Main Risks Are Not Visible on Solana Blockchain records can show USDC entering the vault, kicUSDC being issued and tokens moving between wallets. They cannot verify whether a shipment exists, whether the goods meet the agreed quality or whether an invoice is genuine.
Repayment may depend on:
Commodity traders and corporate borrowers. Suppliers and end buyers. Escrow agents and commercial banks. Shipping companies, inspectors and insurers. Fund managers, administrators and legal entities. The Solana contracts could work exactly as designed while an offchain problem still delays or reduces the amount returned to the vault.
Jurisdiction adds another layer. The fund structure is based in the Cayman Islands, while borrowers, banks, goods and commercial counterparties may operate elsewhere. A dispute could involve several legal systems and take longer to resolve than an automated crypto liquidation.
Kamino says the vault will provide continuous portfolio transparency. For depositors, the useful details will be loan maturities, borrower concentration, collateral location, repayment status, overdue balances and completed recoveries, not simply the total value deposited.
How It Differs From a DeFi Lending Pool Kamino Institutional Yield vs. Standard DeFi Money Markets Comparison Standard DeFi Lending Kamino Commodity Yield Source of Return Interest paid by users borrowing crypto assets. Interest paid on short-term commodity-finance loans. Borrowers Usually pseudonymous wallets using onchain collateral. Identified businesses participating in commodity trades. Collateral Digital assets held in smart contracts. Physical commodities and/or cash escrow, according to Kamino. Transparency Loans and collateral are generally visible onchain. Deposits are visible onchain, while loan performance relies partly on external reporting. Default Handling Smart contracts can automatically liquidate collateral. Recovery may require escrow release, insurance or legal enforcement. Withdrawals Depend on available liquidity in the lending pool. Use a liquidity buffer, with larger requests potentially waiting for loan repayments. Who the Vault May Suit Commodity Yield may appeal to users who want USDC exposure to private credit and are comfortable evaluating risks that cannot be checked entirely through blockchain data.
It is more suitable for depositors who:
Can leave their funds invested through the duration of the underlying loans. Accept that withdrawals may sometimes be delayed. Understand that a stablecoin deposit is not the same as a protected cash account. Are comfortable relying on fund managers, banks and legal agreements. Can assess the vault through portfolio reports rather than onchain data alone. It is a weaker fit for anyone treating USDC as emergency cash, requiring guaranteed immediate withdrawals or expecting smart contracts to manage every important risk automatically.
Why the $25 Million Cap Matters Commodity Yield opened with a maximum of $25 million in deposits. That gives Kamino room to test its lending, reporting and redemption processes without taking unlimited capital from the beginning.
The cap also keeps the launch in perspective. It introduces a new type of credit product on Solana, but it does not yet show that commodity finance can operate at significant scale through the network.
The first completed lending cycles will provide more useful information than the headline yield. Investors will be able to see whether borrowers repay on schedule, whether withdrawals work during periods of heavier demand and how close the realized return comes to the 7% to 8% target after fees.
What the Product Adds to Solana Most tokenized real-world-asset products have focused on government debt, money-market funds and the reserves supporting yield-bearing stablecoins. Kamino is bringing a different form of credit onto Solana’s distribution layer.
The blockchain makes it easier to deposit USDC, receive a transferable vault position and track ownership. The fund handles the commercial lending that cannot be completed entirely through smart contracts.
A successful first vault could lead to other private-credit strategies. Its importance will be determined by repayment performance, withdrawal reliability and sustained demand rather than the launch announcement alone.
Kamino is offering DeFi users a higher target return by moving beyond crypto-native lending. The price of that return is exposure to the slower and less transparent world of borrowers, banks, shipments and legal enforcement.
Disclaimer: This article is for informational purposes only and does not constitute financial, legal or investment advice. Yield targets are not guaranteed, and offchain credit structures can involve liquidity, counterparty, operational and legal risks. Methodology: This article uses Kamino’s official launch announcement and explanatory materials for Kamino Institutional Yield and the Commodity Yield vault, together with Solana’s public post about the launch. Product descriptions, target returns and collateral claims are attributed to Kamino. Author
Kosta has reported on cryptocurrency markets and blockchain infrastructure since 2020, bringing over six years of hands-on experience in the crypto industry built through daily tracking of markets, trends, and emerging blockchain developments. Specializing in Bitcoin on-chain analysis, institutional ETF flows, and digital asset price action, his work at Coindoo has been cited by other news agencies and consistently covers market developments with a focus on data-driven reporting across Bitcoin, Ethereum, Solana, and XRP. Over the years, Kosta has contributed to multiple crypto media outlets in different regions, authoring over 6,000 articles across the sector. His reporting spans cryptocurrency markets and the broader fintech industry, tracking not only price action but also the technological and regulatory forces shaping the ecosystem. To support his analysis, Kosta actively leverages on-chain data and metrics from leading platforms such as Santiment, Glassnode, and CryptoQuant, enabling deeper, evidence-based market insights. He believes in the power of transparency and the data that underpins the blockchain ecosystem. His academic background in Marketing Management from Denmark further complements his analytical approach, adding a strong understanding of communication strategy and content positioning to his work.
Lawson rozšířil pilot plateb stablecoiny ve dvou tokijských prodejnách o USDC, USDT a JPYC. Testuje platby přes stávající POS bez samostatných terminálů.
Lawson has expanded its stablecoin payment pilot to include USDC, USDT and JPYC through a second point-of-sale test at two Tokyo stores, while continuing to evaluate the technology for future retail use.
Summary
Lawson will test POS based stablecoin payments at two Tokyo stores using JPYC, USDC and USDT. The pilot removes the need for dedicated payment terminals by processing wallet barcodes through existing checkout systems. The company will evaluate payment speed, POS integration and store operations before considering wider adoption. A second proof of concept is scheduled for later in August as Lawson continues assessing stablecoin payments in retail. According to an announcement from Lawson, the convenience store operator will conduct two proof-of-concept trials this month to test stablecoin payments directly through its existing point-of-sale (POS) registers without requiring separate payment terminals or QR code displays.
The first trial is scheduled for Aug. 6 at the Lawson Takanawa Gateway City store and will be limited to invited participants using the HashPort Wallet with the yen-backed stablecoin JPYC. A second test will follow on Aug. 17 at the Lawson Gate City Osaki Atrium store, where participants will use MetaMask to pay with USDC, USDT or JPYC.
Lawson said the pilot is designed to verify how its POS system connects with digital wallets, how settlement is processed and how long each payment takes before deciding whether the technology is suitable for wider deployment.
Lawson has added multiple stablecoins to the retail pilot Unlike earlier stablecoin payment setups that required dedicated payment terminals or separate QR codes, the company said customers in the pilot will display a payment barcode from their wallet application, which will be scanned directly by the store’s existing POS register.
The checkout process routes payment information through Canal Payment Services’ multi-code payment gateway PAYTREE, which exchanges settlement data with the user’s wallet provider before confirming the transaction. Lawson said removing the need for separate hardware is a key feature being tested during the pilot.
Besides transaction speed, the company will examine day-to-day store operations, including POS integration and settlement procedures, to determine whether the system can operate smoothly in a retail environment.
The Aug. 17 trial also expands the project beyond the original plan by adding the dollar-backed stablecoins USDC and USDT alongside JPYC while using MetaMask instead of HashPort Wallet.
Stablecoin payments remain under evaluation Although customers participating in the pilot will complete purchases with stablecoins, the trials are restricted to related personnel and are not yet available to the public.
Lawson also said another proof-of-concept test is planned later in August as it continues evaluating whether stablecoin payments can be introduced across its stores.
Earlier reporting by crypto.news noted that the company originally announced only a JPYC payment trial at its Takanawa Gateway City location. At the time, Lawson described the project as Japan’s first attempt to connect stablecoin payments directly with an existing POS system rather than relying on dedicated payment equipment.
The retailer previously said it would review system stability, transaction speed and operational efficiency before making any decision on commercial deployment.
Japan’s stablecoin activity has continued to expand The latest pilot comes as regulated stablecoin projects continue to move into commercial use across Japan.
Earlier this month, crypto.news reported that logistics company AZ-COM Maruwa Holdings plans to adopt JPYC to make payments to about 2,300 business partners, including truck drivers. According to Nikkei, the company expects the fee-free stablecoin to support faster and more frequent payments than conventional bank transfers while considering an investment of more than ¥1 billion in JPYC Inc.
Retail adoption has also started to emerge. Crypto.news previously reported that selected Chibo restaurant locations began accepting JPYC, while several dental clinics in Tokyo and Chiba have announced plans to introduce the stablecoin using HashPort’s payment infrastructure.
Meanwhile, Japan’s financial sector has continued preparing regulated stablecoin services. Major banks including MUFG Bank, Sumitomo Mitsui Banking Corporation and Mizuho Bank have said they plan to begin live yen-backed stablecoin transactions during fiscal 2026, following industry efforts to establish common standards for issuance, governance and settlement systems.
Lawson said it will continue studying the use of stablecoins at its stores as it looks for ways to improve payment convenience for customers while assessing the technology through successive pilot programs.
Morgan Stanley has downgraded Circle (CRCL)’s stock rating from “Hold” to “Underweight” and slashed its price target for the firm from $106 to $38. Morgan Stanley analyst James Faucette noted the downgrade is primarily driven by the contraction in USDC circulation, which exposed the sensitivity of Circle’s reserve income and revealed the company’s business is shifting to a transaction revenue model with lower profit margins. The report added that Morgan Stanley has cut its USDC size forecasts for Circle by roughly 33% and 44% for 2027 and 2028 respectively, and projects the firm’s GAAP earnings per share will be about 3% and 20% below market consensus. The analyst pointed out that tokenized money market funds and bank deposit products may exert pressure on USDC balances and revenue sharing ratios, while Circle’s USYC product has a relatively weak economic model. Additionally, the agency payment business remains small in scale, with daily trading volume falling to around $41,900, implying an average transaction value of roughly $0.24. Morgan Stanley further stated that Open USD, which uses a shared governance and reserve revenue model, may raise Circle’s costs for maintaining USDC distribution channels.
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Circle koupila od IBM téměř 1 000 blockchainových patentů a tvrdí, že má největší patentové portfolio v USA. Firma ale neřekla, zda je bude licencovat nebo vymáhat proti konkurenci.
Circle has acquired nearly 1,000 blockchain patents from IBM, giving the USDC issuer what it describes as the largest blockchain patent portfolio in the United States.
Summary
Circle acquired nearly 1,000 issued patents spanning more than 680 patent families. The portfolio covers blockchain, banking, insurance, cloud security, and enterprise infrastructure. Circle has not disclosed the purchase price or explained whether it could enforce the patents against competitors. CRCL initially gained about 2%, but later fell after Morgan Stanley cut its target to $38. Circle takes control of IBM’s blockchain portfolio Circle announced the acquisition on July 27, saying it had purchased core assets from IBM’s blockchain patent portfolio. The transaction covers more than 680 patent families and nearly 1,000 issued patents worldwide.
The intellectual property spans blockchain systems, financial services, banking, insurance, supply-chain verification, enterprise infrastructure, and secure cloud operations. Circle did not disclose the financial terms.
Circle said the portfolio would support USDC, the Circle Payments Network, its Arc blockchain, and tools designed for artificial intelligence agents. The two companies also plan to consider further commercial agreements.
“Intellectual property is critical to advancing our mission and expanding adoption of onchain infrastructure,” Circle General Counsel Sarah Wilson said.
Wilson added that the acquisition would expand Circle’s ability to develop infrastructure for internet-based finance.
Patent deal raises concerns over possible enforcement Circle’s announcement did not state whether the company intends to license the patents, use them defensively, or enforce them against other blockchain businesses.
That lack of detail has prompted questions about how Circle could use its newly acquired intellectual property. In an Aug. 3 commentary, Fortune’s Jeff John Roberts warned that the patents could become legal leverage against competitors or startups.
Roberts argued that Circle could theoretically seek licensing payments, bring infringement cases, or transfer patents to separate entities that pursue enforcement. However, Circle has not announced plans to take any of those actions.
The concerns also stem from IBM’s mixed record in commercial blockchain development. IBM previously backed several enterprise blockchain projects, including supply-chain and trade-finance platforms, but many failed to achieve broad adoption.
A large patent portfolio does not necessarily indicate that the underlying products reached commercial success. Still, issued US patents can give their owner the right to restrict others from using covered inventions, subject to their validity and scope.
Circle has also not announced a public defensive patent pledge comparable to commitments used by some other digital-asset companies. Such pledges generally promise that patents will not be used offensively against developers acting in good faith.
US blockchain firms face new intellectual property risk Circle’s position as the largest US holder of blockchain-related patents could affect companies building stablecoin, payments, interoperability, and enterprise ledger products.
The practical impact will depend on the language of individual patent claims and whether Circle chooses to enforce them. Any infringement dispute would also face review in US courts, where defendants can challenge whether a patent is valid or applies to their technology.
For Circle, the acquisition may provide protection as it expands beyond reserve income from USDC. Arc, Circle Payments Network, cross-chain services, and agent-based payment tools could expose the company to a broader set of technology competitors.
It may also strengthen Circle’s bargaining position in licensing or partnership negotiations. Still, without an enforcement policy, developers and competitors have limited visibility into whether the portfolio will function mainly as a defensive shield or a commercial asset.
CRCL falls despite initial reaction to IBM deal Fortune reported that Circle shares rose about 2% following news of the acquisition. That gain did not hold as separate concerns about the company’s USDC business weighed on CRCL on Aug. 3.
Circle shares fell nearly 5% to around $59 after Morgan Stanley downgraded the stock to underweight and cut its price target from $106 to $38. The bank cited weaker USDC supply forecasts, pressure on reserve income, and a potential shift toward lower-margin transaction revenue.
Morgan Stanley reduced its USDC supply estimates by 33% for 2027 and 44% for 2028. The downgrade was separate from the IBM patent acquisition, although both developments reflect Circle’s attempt to establish revenue sources beyond interest earned on USDC reserves.
Investors will now watch for details on how Circle intends to integrate, license, or enforce the patents. Until the company provides those details, claims that it will use the portfolio against competitors remain speculative.
Decentralized trading protocol TradeXYZ has begun repayments to victims of the $60M liquidation event tied to AI chipmaker SK Hynix (SKHYNIX) perpetual contracts.
The flash crash, which happened on Monday, the 27th of July, 2026 (around 23:01 UTC), was triggered by an oracle pricing mishap and partly by ongoing volatility in the South Korean market. The actual losses were estimated at $17.4M in realized losses affecting over 900 user accounts.
On Wednesday, the 29th of July, the Hyperliquid HIP-3 deployer announced a reimbursement program to rebuild trust and market integrity. Additionally, it vowed to improve its pricing systems to “handle tail events.”
How will TradeXYZ repay SKHYNIX victims? As part of the payout program, TradeXYZ said it had paid out victims with claims of less than $10K based on $1,115 per SKHYNIX. But wallets claiming larger amounts will require more review for final payout by the 15th of August.
Where it exceeds 10,000 USDC, an initial 9,999 USDC has been credited. We are required to conduct enhanced due diligence for amounts in excess of 10,000 USDC.
Source: SKHYNIX/USD, TradingView As of writing, SKHYNIX traded at $1,087 after briefly slipping to $900 earlier in the week. The repayment could help reinforce trust in TradeXYZ and the broader Hyperliquid ecosystem.
However, the TradeXYZ dominance risk discussion will likely resurface again.
TradeXYZ controls 99% of HIP-3 volumes HIP-3 or perpetuals tied to commodities and stocks (RWA/tokenized assets perps) have been the key driver of Hyperliquid volumes in 2026. This week, tokenized stocks account for 65% of the overall DEX volume.
Surprisingly, crypto perps, which Hyperliquid began with, now account for less than 1% of overall HIP-3 volume.
Source: ASXN However, the massive demand for HIP-3 is dominated by a single deployer, TradeXYZ. It controls over 95% of Hyperliquid’s HIP-3 volume and Open Interest (OI).
According to analysts, the current Hyperliquid design favors big HIP-3 deployers like TradeXYZ, as smaller players like Felix were forced to close shop. According to critics, TradeXYZ’s excessive dominance poses a ‘structural risk’ to the broader ecosystem in case it’s exploited or sanctioned.
Source: ASXN For a better ecosystem balance, they called for a level-playing field to ensure HIP-3 is more decentralized to reduce the potential risk of TradeXYZ dominance.
Whether the Hyperliquid project team will accept the feedback remains to be seen. That said, the project’s HIP-4 (prediction markets and Options trading) went live on mainnet on Friday.
Final Summary TradeXYZ has begun reimbursing affected SKHYNIX traders for claims below $10K Hyperliquid’s HIP-3 now accounts for 65% of total trading volume, with TradeXYZ dominance increasingly viewed as a risk.
Bitget zpřístupňuje svým více než 125 milionům registrovaných uživatelů on-chain výnosy přes Morph, Morpho a Gauntlet. Na USDC má být kolem 18 % APY a na bgBTC 3 % APY.
Bitget, the exchange group that claims more than 125 million registered users, is giving its customer base direct access to on-chain yield without requiring them to leave its platform. The move comes through a partnership with payments network Morph, lending protocol Morpho, and risk management firm Gauntlet.
How the integration works Morph, a payments network purpose-built for digital asset transactions, has announced the collaboration with on-chain credit protocol Morpho and yield optimization firm Gauntlet. The integration allows Bitget customers to deposit USDC and Bitcoin directly through their existing accounts to access curated yield strategies powered by Morpho and Gauntlet's Aera vaults on Morph's infrastructure.
Users will be able to earn approximately 18% annual percentage yield on USDC deposits and 3% APY on bgBTC, Bitget's wrapped Bitcoin product, without surrendering custody or navigating external decentralized finance protocols. The bgBTC yield strategy launched on Bitget Exchange on July 31, while the USDC yield strategy will become available on the self-custodial Bitget Wallet starting August 3.
The infrastructure behind the yield Morpho is a decentralized lending protocol built around the principle that lending infrastructure and lending strategy belong on different layers. Gauntlet sits in the strategy layer, acting as what the industry calls a vault curator. Using Morpho Vaults, Gauntlet deploys and curates institutional-grade yield strategies through the Morpho Curator App. With vaults deployed, Gauntlet focuses on curating risk-reward to offer the best risk-adjusted returns for vault suppliers.
The firm launched its first Morpho vaults in 2024 and by early 2026 had grown to more than 30 vaults with cumulative supply over $500 million and over $2 billion in total vault TVL across Morpho, Drift, and Kamino. All underlying complexity is abstracted through Morph's infrastructure, enabling users to maintain their Bitcoin positions while participating in yield-generating activities.
The partnership is part of a broader trend of centralised exchanges embedding DeFi yield directly into their products. The collaboration with Morpho reflects Bitget's broader UEX vision, in which users can access crypto-native and traditional financial opportunities through a single intelligent trading and asset management platform.
Sources:
Metaverse Post: Morph, Morpho and Gauntlet Partner to Deliver Institutional On-Chain Yield to Bitget's 125M Users
Morpho: Gauntlet on Morpho Vault Curation
Bitget Blog: Bitget Collaborates with Morpho and Arbitrum on On-Chain Earn Products
Circle získala od NYDFS schválení nové trustové charty v New Yorku pro Circle Internet Trust Company LLC. Pro USDC to znamená další regulační posílení.
Circle Internet Group has picked up a fresh regulatory milestone in New York, one of the states most closely watched in the digital asset space.
A New Charter, a Decade in the Making
Circle’s new trust charter comes from New York’s financial regulator, the NYDFS, which issued the approval for a limited purpose trust entity tied to the stablecoin issuer. The new unit will now operate under the name Circle Internet Trust Company LLC, doing business as Circle New York Trust.
The move builds on a relationship that stretches back more than a decade. Circle became the first company to receive a BitLicense from NYDFS back in 2015, a distinction that marked the start of its long-running regulatory relationship with the state.
Why New York Matters Here
New York’s financial regulator is widely viewed as a global benchmark for digital asset oversight, and the state also happens to be where Circle is headquartered. Landing a trust charter there gives USDC an added layer of institutional credibility as regulated digital dollars continue moving further into mainstream finance.
What Circle’s CEO Had to Say
Circle co-founder, chairman, and CEO Jeremy Allaire framed the charter as a milestone the company had been pursuing for years. CEO Jeremy Allaire called it a longstanding goal tied to regulatory clarity now, pointing to the significance of the timing.
“NYDFS is an international standard setter for digital asset regulation, and New York is Circle’s global headquarters,” Allaire said. “This charter reflects over a decade of regulatory commitment and positions USDC within a strong, respected framework as digital dollars become central to the global financial system.”
Story Ends Here
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Crypto payments giant MoonPay launched PayBox, a non-custodial wallet and payment vault that enables AI agents to securely transact across the open internet.
While the product introduced a new way to interact with crypto through ChatGPT and Claude, much of the community focused on something else. MoonPay rewarded early users with one-time $USDC allocations that ranged from a few dollars to as much as $1,000, according to reports shared across social media.
To qualify, users created a PayBox account, connected it to ChatGPT or Claude, created a wallet, linked their X account, and claimed rewards through a faucet.
Community members posted screenshots showing rewards of $5, $380, $500, $600, and even $1,000. Many also confirmed successful withdrawals before MoonPay temporarily paused the faucet, saying it would return at “an undisclosed time” on July 30 with "more surprises for PayBox users."
The campaign quickly became one of the most viral crypto marketing efforts in recent months. MoonPay later revealed that it had gained 35,000 new followers on X within a day of the launch.
Turning Conversations Into Transactions Beyond the giveaway, PayBox introduces a different way to interact with digital assets. Users connect the wallet to ChatGPT or Claude through a custom connector, then describe what they want in natural language.
Examples include onramping funds into stablecoins, swapping tokens on Solana, bridging assets across supported blockchains, maximizing DeFi yield, booking flights, making restaurant reservations, and shopping online. The AI prepares each transaction, while the user authorizes it with a passkey before funds move.
PayBox launches with support for Solana and several EVM-compatible networks, including Ethereum, Base, Arbitrum, Polygon, Hyperliquid, Tempo, and Robinhood Chain.
Privacy Concerns Sparked Debate The generous $USDC rewards also triggered debate within the community. Some participants viewed the campaign as a customer acquisition strategy rather than a traditional crypto airdrop, while others questioned whether connecting accounts created privacy risks.
MoonPay responded directly, stating that PayBox never accesses users' chat history or wallet private keys.
Neeraj Prasad, Chief Engineer of MoonPay Labs and founder of Dawn Labs, also explained that the wallet operates through embedded cryptographic infrastructure and that only tool call arguments pass through the connector, not conversation history.
A Non-Custodial Approach to AI Payments MoonPay designed PayBox so AI agents never take custody of user funds. The system stores wallet keys using multi-party computation and trusted execution environments, preventing any single party, including MoonPay or the AI assistant, from accessing the complete private key.
Users can choose between 2 permission models. "Always Ask" requires passkey approval for every transaction, while "Autonomous" lets AI operate within limits defined by the user. Every authorization applies to a single action and expires after use.
The infrastructure comes from Sodot, the cryptography company MoonPay acquired earlier this year, building on a broader wave of MoonPay AI initiatives including the acquisition of Entendre, the launch of MoonPay Agents and the acquisition of AI trading startup Dawn Labs founded by Prasad. According to MoonPay, that technology already secures more than $50 billion in assets across over 10 million wallets.
More Than a Crypto Wallet PayBox supports much more than token transfers. Users can create wallets, manage credentials, track portfolio balances, perform cross-chain swaps, sign blockchain transactions, retrieve stored secrets with approval, and monitor pending requests.
The platform also supports x402-powered commerce, allowing AI agents to pay for APIs, travel bookings, shopping, digital services, and other internet-based transactions. It also integrates World prediction markets, enabling users to browse events, review market data, trade positions, and redeem settled markets.
MoonPay plans to expand PayBox further into DeFi, adding support for perpetual futures, liquidity management, and additional AI platforms.
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Shopify přidala podporu plateb v USDC do své základní platební infrastruktury a mezi podporované sítě zařadila i Arbitrum. Obchodníci mohou přijímat platby přes Shopify Payments bez poplatků za gas a bez devizových poplatků.
@Shopify has added $USDC payment support to its core payments stack, with @Arbitrum among the supported networks. The integration allows over 480 compatible digital wallets to execute retail transactions directly through Shopify Payments, positioning stablecoins as a practical alternative to traditional card networks for merchants worldwide.
How It Works at Checkout Shopify has wired USDC directly into its payments stack, allowing merchants to accept digital dollars at checkout without adding new providers or changing existing workflows. The feature sits inside Shopify Payments, meaning merchants can enable it alongside credit cards and other payment options.
Shopify Payments accepts $USDC on five networks: Base, Ethereum L1, Optimism, Polygon, and Arbitrum, with access through 480-plus supported crypto wallets and no gas fees charged to the buyer. Crucially, no foreign exchange fees apply either, removing two of the most common friction points for cross-border commerce.
Customers can pay with USDC on Ethereum, Base, or other chains, and funds bridge automatically, so the merchant does not need to think about which network the buyer used.
Settlement Options and Merchant Flexibility On the back end, merchants can choose whether to receive funds in traditional fiat payouts or settle in USDC on-chain. Shopify states that USDC payments convert to local currency by default, with no foreign exchange or multi-currency fees, and deposit to the connected bank account.
The integration is built in partnership with Stripe and Coinbase for wallet connectivity and transaction processing, with settlement occurring on Base and support for USDT planned.
The move reflects a broader shift in commerce infrastructure. Stablecoin payments reached $1.1 trillion in transaction volume in 2024, with Visa and Allium Labs confirming that stablecoins processed 2.5 times Visa's adjusted transfer volume that same year. For merchants processing high volumes of cross-border transactions, the economics are hard to ignore.
PYMNTS: Shopify Signals Stablecoin Preferences With USDC Integration
Digital Applied: Shopify Spring 2026 Checkout and Payments Updates
Shopifreaks: Shopify Adds USDC Stablecoin to Its Core Payments Stack
Visa uvedla, že u stablecoinů zůstane „multi-coin, multi-chain“ a nebude vybírat vítěze, i když její platforma teprve začíná podporovat Open USD. Platforma má zároveň dál fungovat i pro USDT a USDC.
Visa Chief Executive Ryan McInerney said the payments company will remain neutral among stablecoins as Open USD prepares to enter a market led by Tether’s USDT and Circle’s USDC.
Summary
Visa says its stablecoin strategy will remain multi-coin and multi-chain rather than backing one winner. Open USD plans to launch later this year with more than 140 participating global companies. Visa’s stablecoin platform initially supports Open USD while retaining interoperability with existing settlement products worldwide. During Visa’s July 28 fiscal third-quarter earnings call, McInerney said the company would remain “multi-coin, multi-chain” and that its role was “not to pick winners.” Instead, Visa plans to help clients connect securely to whichever stablecoins, networks and infrastructure gain adoption.
Visa separates Open USD support from a single-token bet Visa is one of more than 140 companies supporting Open Standard, the independent consortium developing Open USD. Other participants include Mastercard, Stripe, Coinbase, BlackRock, BNY, Google and several global banks.
However, McInerney’s comments show that Visa does not view its involvement as an exclusive commitment to OUSD. The company already supports several stablecoins and blockchains through settlement, card and money-movement products. Visa previously described its technical approach as a “multi-coin and multi-chain foundation.”
ARK Invest researcher Lorenzo Valente interpreted the response as evidence that partner support may be “closer to a soft LOI than a strategic bet.” That is an analyst’s view, not a disclosed Visa contract term. Neither Visa nor Open Standard has published commitments showing how much capital, distribution or balance-sheet support each partner must provide.
On @Visa earnings call, the company was asked whether OpenUSD would compete with @circle , @tether, and the established stablecoin players.
Visa’s response:
“Visa, going forward, will remain multi-coin, multi-chain. Our role is not to pick winners. Our role is to help clients…
— Lorenzo Valente (@LorenzoARK) July 28, 2026 Open Standard plans to launch Open USD later in 2026. Its website says businesses will be able to mint and redeem OUSD without fees or volume limits, while most revenue from the reserves will return to participants that adopt and distribute the token.
That model differs from the issuer-led structures used by USDT and USDC, where the issuing company controls reserve management and related economics. Open Standard says an independent management team and partner-led governance will oversee OUSD. These are planned product features, and the token has not yet launched.
Notably, Open USD’s launch raised questions about Circle’s reserve-income model. Circle shares fell 17.5% on June 30, although Russell index removals also contributed to that day’s decline, making it difficult to isolate OUSD’s effect.
Visa is building infrastructure across stablecoins Visa’s practical commitment is clearer in its own product releases. On July 16, the company introduced the Visa Stablecoin Platform for banks, fintechs and crypto companies. The platform initially provides access to Open USD, including minting, burning, storage and transfers through a Visa-managed environment.
The company said the platform will also connect with its existing stablecoin settlement, linked-card and money-movement services. In June, Visa reported that its stablecoin settlement activity had reached an annualized run rate of about $7 billion as of March 2026.
Additionally, Visa’s stablecoin platform was described as a route for institutions to use Open USD without building every wallet, security and treasury function internally. Visa’s broader structure could also allow it to serve clients choosing USDC, USDT or another regulated token.
Open USD’s launch will test partner commitment Open Standard has not announced an exact launch date, initial circulating supply or confirmed transaction volume. Because OUSD is not yet live, there is no verified on-chain activity or market capitalization to compare with USDT and USDC.
The next test will be whether partners integrate OUSD into real payment, settlement and trading products after launch. Visa has already built an initial access route through its platform, but McInerney’s comments indicate the company will continue supporting competing tokens and networks.
Therefore, Open USD may gain distribution through Visa without becoming Visa’s exclusive stablecoin. Adoption will depend on reserve arrangements, regulatory compliance, partner integrations and actual customer demand rather than the size of the consortium alone.
Ostium uvedl, že červencový exploit vznikl kvůli kompromitované off-chain infrastruktuře, ne kvůli chybě ve smart kontraktech. Útočník přes falešné BTC-USD cenové reporty odčerpal z OLP liquidity vault 23.75 million USDC.
Ostium has concluded that its July exploit originated from compromised off-chain infrastructure rather than a flaw in its smart contracts, after an investigation found the attacker manipulated price reporting to drain 23.75 million USDC from the protocol’s liquidity vault.
Summary
Ostium said its investigation found the July exploit originated from compromised off chain infrastructure rather than a flaw in its smart contracts. Fraudulent BTC USD price reports allowed the attacker to drain 23.75 million USDC from the protocol’s OLP liquidity vault. The protocol said automated monitoring detected the attack, trading resumed on July 23, and user collateral remained unaffected. A recovery plan for affected liquidity providers is being finalized and will be shared in a separate update. According to Ostium’s post-mortem published on Wednesday, the attacker gained unauthorized access to the protocol’s off-chain infrastructure and used it to submit fraudulent BTC-USD price reports.
The manipulated reports allowed the attacker to create artificial trading profits at the expense of the public OLP vault, while the protocol found no evidence that its smart contracts or governance multisigs had been compromised.
Ostium says exploit bypassed off-chain systems During its investigation, Ostium said the initial breach occurred outside the protocol’s on-chain infrastructure. The team stated that its findings did not identify any vulnerability in the protocol’s smart contract logic or any compromise involving the multisigs responsible for governing the protocol.
Instead, the attacker abused forwarder paths that the protocol already recognized as valid. Ostium explained that the exploit began with a small test transaction involving a 100 USDC position, producing roughly 897.8 USDC in artificial profit before the attacker expanded the operation.
Following the successful test, the attacker executed the primary batch of transactions, transferring about 11.9 million USDC to a beneficiary wallet. Ostium said six additional standalone exploit cycles followed, bringing the total loss from the OLP vault to 23.75 million USDC.
Earlier reporting from blockchain security firm Blockaid had attributed the incident to a compromised oracle signer private key, saying the attacker bypassed the protocol’s price verification process by submitting manipulated price reports through a registered PriceUpKeep forwarder. At the time, Blockaid estimated that between $11.86 million and $18 million USDC had been withdrawn during approximately 20 trading loops, based on the exploit activity visible on-chain while the attack was still unfolding.
Automated monitoring limited additional losses While the exploit succeeded in draining funds from the liquidity vault, Ostium said its automated monitoring systems detected the abnormal activity before additional withdrawals could take place. The protocol subsequently halted trading while its investigation continued and has since migrated to a new production environment with updated security controls.
Trading resumed on July 23 after the migration was completed.
Ostium also said trader collateral remained unaffected throughout the incident because user margin stayed inside the protocol’s trading contracts rather than the compromised liquidity pool.
The team added that it is still finalizing a separate recovery plan for liquidity providers whose funds were affected by the exploit. According to the protocol, further details will be released in a dedicated update.
Oracle infrastructure remained central to the attack Although Ostium’s latest report attributes the incident to unauthorized access to its off-chain infrastructure, its findings are consistent with the attack path previously outlined by Blockaid, which concluded that compromised signing credentials allowed fraudulent price reports to pass the protocol’s verification process.
According to Blockaid’s earlier analysis, the attacker repeatedly opened and closed positions through delegated actions after submitting favorable future-dated price reports. Because the manipulated reports appeared valid to the protocol, each trading cycle generated profits for the attacker while transferring losses to the OLP liquidity vault instead of relying on a vulnerability in the smart contract code itself.
The incident has drawn attention to the security of supporting infrastructure that decentralized finance protocols rely on for external market data. In Ostium’s case, both the protocol’s post-mortem and Blockaid’s earlier investigation concluded that the exploit did not originate from flaws in the core smart contracts.
Ostium exploit followed Nasdaq partnership The exploit occurred only weeks after Ostium expanded its institutional presence through a partnership with Nasdaq announced in May. At the time, the protocol said Nasdaq’s market data would support equity perpetual products listed on the platform.
Ostium also disclosed during that announcement that it had processed more than $50 billion in cumulative trading volume.
Before the exploit, the protocol had raised approximately $27.8 million from investors including General Catalyst, Jump Crypto, Coinbase Ventures, Wintermute and GSR, according to previous company disclosures.
Bitget Wallet od 1. srpna spustí Assetback, který automaticky mění cashback z karty na Bitcoin, tokenizované zlato, americké akcie, ETF produkt nebo USDC.
Bitget Wallet will launch Assetback on Aug. 1, allowing eligible card users to convert purchase rewards automatically into Bitcoin, tokenized gold, U.S. equity tokens, an exchange-traded fund token or USDC.
Summary
Seven reward assets include Bitcoin, tokenized gold, three U.S. stocks, an ETF, and USDC options. Eligible cardholders receive 2% base rewards, while qualifying users can unlock 3% during booster periods. Rewards become redeemable seven days after transactions and require at least one USDC before withdrawal. The company said users can select one of seven assets: BTC, Tether Gold, tokenized Nvidia, Tesla and Alphabet shares, an S&P 500 product, or USDC. Rewards will be generated from qualifying purchases made with the Bitget Wallet Card.
Bitget Wallet replaces cash rewards with seven assets Assetback provides a 2% base reward for cardholders. New users and customers who meet a monthly spending threshold can receive up to 3% through a booster tier. Once unlocked, the higher rate applies during that calendar month and the next one.
Users may change their selected reward asset once each month. USDC rewards are credited to the card balance, while other rewards can be moved to a rewards account after reaching at least one USDC in accumulated value. Redemption becomes available seven days after the underlying transaction.
However, the advertised rate does not apply to every payment. Bitget Wallet says monthly caps, merchant-category exclusions and risk reviews apply. Refunded, reversed or cancelled transactions do not qualify. The model also replaces the card’s previous zero-fee rewards program, so users should review regional fees and limits.
Tokenized stocks provide exposure, not standard shares The stock and ETF rewards will use xStocks, which issues blockchain tokens backed by securities held in custody. Available choices include Nvidia, Tesla, Alphabet and an S&P 500-linked product. xStocks says each token is backed one-for-one by underlying securities.
However, tokenized equities are not identical to holding shares through a conventional brokerage account. Rights, redemption access, trading availability and investor protections depend on the issuer, platform and user’s location. Bitget Wallet also describes the rewards as available only to eligible users.
As previously reported, Bitget Wallet added more than 130 xStocks products in May, allowing users to access tokenized equities through its self-custodial application. In related coverage, crypto.news explained how tokenized stocks work, including issuer, custody, liquidity and regulatory risks.
Card access still depends on each user’s region Bitget Wallet says the card serves markets across Europe, Asia and Latin America, with availability also expanding in Africa. Its official card page states that cards may operate through Visa or Mastercard depending on the regional issuing partner. The product supports Apple Pay and Google Pay in eligible markets.
The card converts selected crypto assets to fiat when users pay merchants. Official terms state that customers must complete identity checks and live in supported jurisdictions. The terms also permit applicable conversion, foreign-exchange and other charges, meaning Assetback should not be treated as a guaranteed net return.
Bitget Wallet says it has more than 100 million users and that spending through its card nearly tripled during the first half of 2026. It also cited monthly crypto-card payment volume of $656 million in May, up from $271 million one year earlier. Those figures are company-provided and have not been independently audited.
The Aug. 1 rollout will test actual demand Users will need Bitget Wallet app version 9.5.3 or later to access the updated card. After selecting an asset, eligible cashback will be converted automatically, creating small recurring purchases rather than requiring a separate trade after every card payment.Bitget Wallet describes the process as applying “dollar-cost averaging” to routine spending. That is a company characterization, not a promise that the selected assets will gain value. Bitcoin, tokenized gold and equity-linked products can rise or fall after rewards are credited.
There is no verified market reaction because Bitget Wallet is not publicly traded and the announcement does not introduce a new token. The next measurable updates will be redemption activity, reward volumes and whether regional cardholders adopt non-cash rewards after Aug. 1.
BNY zavádí blockchain do správy fondů a přesouvá záznamy o vlastnictví tokenizovaných fondů on-chain, přičemž tradiční systémy ponechá v provozu. Prvním klientem bude Baillie Gifford.
BNY is adding blockchain technology to its transfer agency business as the bank expands digital asset services beyond custody and stablecoin support.
BNY Moves Fund Records to Blockchain BNY is launching a digital transfer agency platform to process fund transactions and maintain shareholder records on-chain. The system will create a shared ownership ledger for tokenized funds while the bank keeps its traditional transfer agency in place.
The bank safeguards more than $59 trillion in client assets and services about $8.6 trillion through its transfer agency business. The new platform aims to reduce repeated checks between intermediaries that support fund administration.
BNY Chief Product and Innovation Officer Carolyn Weinberg said the bank is modernizing a function behind fund transactions by bringing the “books and records onchain.” The platform will give asset managers a digital record of ownership for tokenized products.
The bank expects traditional systems to remain active for years. BNY Global Head of Asset Servicing Emily Portney said “trillions and trillions of dollars” in funds will continue using existing rails.
Tokenized Fund Rollout Starts With Major Clients Baillie Gifford will become the first client to use the platform for a fully native U.K.-regulated tokenized fund. BNY’s Dreyfus division and BlackRock are also expected to use the same infrastructure for planned tokenized products.
The platform places BNY inside the growing market for tokenized funds. These products can hold traditional assets, while investor ownership is recorded through blockchain-based tokens.
BNY is also preparing tokenized U.S. Treasuries and pilot transactions on its private blockchain before the end of 2026. A client letter said the bank already executed after-hours Treasury transactions with stablecoin issuers earlier this year.
The bank expects blockchain records to support faster settlement and round-the-clock market operations. Shared records can also reduce manual reconciliation between banks, fund managers, custodians, and other service providers.
BNY Builds on BTC ETH and USDC Services BNY has been expanding digital asset services for several years. The bank created its Digital Assets unit in February 2021 to support multi-asset custody and related infrastructure.
The bank launched Bitcoin and Ethereum custody services in October 2022. That made BNY one of the first large custodian banks to support custody for both assets.
BNY also expanded its work with Circle in June 2026 to support minting and burning for USDC. The move connected the bank more closely with stablecoin settlement and reserve operations.
In May, BNY announced a strategic collaboration with Finstreet Limited and ADI Foundation to offer crypto custody in the Abu Dhabi Global Market. The agreement added another regulated market to BNY’s digital asset push.
BNY’s blockchain transfer agency platform extends that strategy into fund administration. The bank is not replacing its older systems but adding new rails for tokenized funds and blockchain-based ownership records.
If you want global financial firms to protect assets and meet rules, institutional crypto custody solutions are essential.
Patrick Hansen z Circle uvedl, že MiCA má zásadní mezery a EU potřebuje mechanismus uznávání zahraničních stablecoinů. Z top 50 stablecoinů splňují MiCA jen tři — USDC, USDG a EURC.
Circle’s Senior Director of EU Strategy and Policy Patrick Hansen (@paddi_hansen) published an article noting that since the EU’s Markets in Crypto-Assets (MiCA) regulation took effect, roughly 35 electronic money tokens (EMTs) from 21 institutions have secured compliance certifications. Banks and e-money institutions are entering the space, with strong local issuance momentum. However, among the world’s top 50 stablecoins, only three—USDC, USDG, and EURC—currently meet MiCA requirements, while the rest operate outside the regulatory framework, leaving EU users facing a dual dilemma: either insufficient protection or forced access restrictions. Hansen argues that for MiCA to truly serve as a global regulatory benchmark, two goals must be achieved in parallel: first, drive local EMTs to go global via a competitive regulatory regime; second, establish a recognition mechanism for overseas compliant stablecoins to attract global issuers to join the MiCA framework, rather than making local issuance the sole entry path.
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Kraken spustil nativní vklady a výběry USDC na Injective, takže klienti mohou posílat stablecoin přímo bez crosschain převodu. Tím se otevírá přímá cesta do onchain obchodování, plateb a tokenizace.
Native USDC deposits and withdrawals on Injective are now live on Kraken, one of the world’s largest crypto platforms.
Kraken clients can now move USDC directly between the platform and Injective without having to withdraw to another blockchain or completing a separate crosschain transfer. The integration creates a direct onramping path into Injective’s onchain markets, tokenization infrastructure, payment rails and applications.
Direct Exchange Access to Native USDCUSDC on Injective is issued natively by Circle. It gives users and institutions a 1:1 dollar-denominated asset for trading, settlement, payments and onchain capital allocation.
When an exchange does not support Injective directly, moving USDC onto the network requires users to withdraw on another chain and complete a separate crosschain transfer.
Injective USDC support on Kraken removes that extra network hop. Kraken clients can withdraw USDC directly to an Injective address, put the asset to work onchain and deposit it back to Kraken through the same network.
That matters for any financial system built around active capital. Every added transfer, interface and network selection creates friction. Direct deposits and withdrawals reduce those steps with a clear route into Injective.
Once on Injective, native USDC can move across an onchain financial system built for fast execution and near-zero fees. Users can access spot and derivatives markets, interact with tokenized assets, settle payments and use applications built around programmable dollars.
From INJ Trading to Network SecurityKraken listed INJ for trading in August 2021. The listing gave Kraken clients access to the native asset used for transaction fees, staking, governance and network security across Injective.
Kraken also operates an institutional validator on Injective, giving institutions another way to participate in non-custodial staking and help secure the network.
In 2025, Pineapple used Kraken’s validator as one of the major nodes supporting its $100 million INJ Digital Asset Treasury. Kraken helped connect that institutional capital to Injective’s proof of stake network.
Native USDC support adds another layer. The relationship now spans INJ trading, staking, validator infrastructure, institutional treasury support and direct stablecoin movement.
Kraken Brings Scale to Injective’s Dollar RailsKraken has operated since 2011 and is one of the world’s largest digital asset platforms. It is trusted by millions worldwide and reported $2.0 trillion in total platform transaction volume for 2025.
Today’s news means clients can now use Kraken to access USDC natively on the first blockchain purpose-built for finance. Injective USDC support on Kraken both expands access to the native dollar liquidity used across the ecosystem and provides clients with a direct route to using USDC on Injective for onchain trading,tokenization, payments and programmable financial applications.
Get StartedOn Kraken, select USDC and choose either Deposit or Withdraw. Select Injective as the network and verify the destination address before confirming the transfer.
Only send USDC through a network supported by Kraken.
Get started with Kraken
About InjectiveInjective is the first blockchain purpose-built for finance, enabling users, institutions, and AI agents to trade, tokenize, and transact at scale. Proudly made in America, Injective provides foundational blockchain infrastructure for global markets, with embedded financial primitives spanning stablecoins, real-world assets, payments, and programmable perpetuals through a unified onchain engine. Injective is used by Fortune 500 companies, banks, fintechs, and governments to power an open economy where any asset can be accessed anytime, from anywhere. Builders can deploy across multiple virtual machines like WASM and EVM, connect to native financial modules, and launch markets with deep liquidity from day one. INJ is the native token powering the rapidly growing Injective ecosystem and the new internet economy.
Circle v červenci na síti Solana emitovala dalších 500 milionů USDC ve dvou tranších po 250 milionech. Kumulativní emise na Solaně tak přesáhla 66 miliard USDC.
Circle just dropped another half-billion dollars worth of USDC onto Solana, and at this point it’s starting to feel like a recurring calendar event. The stablecoin issuer minted $500 million in new USDC on the Solana blockchain in July, executed in two neat tranches of $250 million each.
Here’s the thing: this isn’t a one-off. It’s the latest chapter in what’s become a sustained liquidity migration toward Solana that’s been building throughout 2026, with Circle simultaneously burning USDC on other chains, notably Ethereum.
The numbers behind the shift The $500 million mint, flagged by on-chain monitoring services like Whale Alert and Onchain Lens, pushed even more dollar-denominated liquidity into Solana’s trading and DeFi infrastructure. A similar $500 million single-day mint occurred earlier on June 8, suggesting Circle has found a comfortable cadence for these large-scale issuances.
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By mid-July, cumulative USDC minting on Solana had exceeded $66 billion in gross issuance. That’s not net supply, mind you. It’s the total volume of USDC that Circle has created on the network over time, which includes tokens that have since been burned or bridged elsewhere.
Solana’s share of the global USDC supply has briefly climbed above 10% during peak periods in 2026. For a network that only received native USDC issuance starting in late 2020, that’s a remarkable trajectory.
Why Circle keeps choosing Solana Circle’s minting decisions are demand-driven. When traders and institutions need more USDC on a particular chain, Circle mints to meet that demand. The fact that these $250 million tranches keep landing on Solana tells you where the activity is migrating.
The relationship between Circle and Solana dates back to a formal partnership with the Solana Foundation that enabled native USDC issuance on the platform. Since then, Circle has progressively increased its minting allocation to Solana, especially as the network’s DeFi ecosystem matured and attracted more institutional capital.
What this means for traders and the broader market More stablecoins on a network generally translates to deeper liquidity pools, tighter spreads, and better execution for traders. When $500 million in fresh USDC hits Solana’s DeFi protocols, it flows into automated market makers, lending platforms, and perpetual futures venues that form the backbone of on-chain trading.
For now, the arrows point firmly toward Solana continuing to absorb a growing share of the global stablecoin supply, with each $500 million mint reinforcing the network’s position as a primary venue for dollar-denominated on-chain activity.
Disclosure: This article was edited by Editorial Team. For more information on how we create and review content, see our Editorial Policy.
