stablecoin

Circle has partnered with payment technology company Volante Technologies to integrate USDC-related workflows into Volante's existing payment platform. Financial institutions can incorporate stablecoin payments and settlements into their existing systems without having to build a separate digital asset technology stack.Volante's clients include four of the top five corporate banks globally and seven of the top ten banks in the United States. These institutions will be able to evaluate processes such as USDC minting, redemption, wallet registration, fund injection, and inter-wallet payments, and use them in parallel with existing payment rails.

According to Bitcoin Magazine, Bitcoin software provider Breez announced that applications built on its Breez SDK now support users receiving stablecoin payments from over 30 networks using their Bitcoin balance.Breez stated that after the recipient selects the network and amount of the payer, the SDK generates a deposit address and displays the amount received, while the payer pays from their wallet as usual; Flashnet completes the exchange in the background, and the funds ultimately enter the recipient's non-custodial wallet in the form of Bitcoin, or in the form of USD if the stable balance feature is used.In June of this year, Breez launched the ability to send USDT/USDC, allowing a single Breez-powered balance to transfer stablecoins bi-directionally across almost all networks. This update is the latest in a series of usability upgrades, following the rollout of features such as Passkey login, Cash App instant account opening, and stable balance. Breez also launched a reference application called Glow in August to showcase the capabilities of the SDK.The Breez SDK is a developer toolkit that allows applications to add Bitcoin payments without having to build their own payment infrastructure, covering wallet creation, sending and receiving, and Lightning Network payments. Developers can provide Bitcoin functionality with minimal code, without needing to run nodes or manage liquidity.In July of this year, Breez announced a partnership with Turnkey, allowing developers to add non-custodial Bitcoin support to wallet applications running on their own servers.

According to The Wall Street Journal, Citigroup has reached a partnership with Coinbase, allowing Citigroup's institutional clients (including large multinational corporations) to accept customer stablecoin payments through Citigroup's merchant acquiring services. Coinbase will provide the stablecoin payment channel and underlying blockchain technology, automatically converting stablecoins into fiat currency, with Citigroup acting as the custodian bank to complete the funds settlement.At the same time, Coinbase's payment clients can leverage Citigroup's banking capabilities to receive, hold, and make payments using tools similar to bank accounts. The cash received will automatically be converted into stablecoins and stored in Coinbase, currently earning an annualized reward of 3.75% in interest-like benefits.

According to CoinDesk, the stablecoin payment company RedotPay, headquartered in Hong Kong, announced on Monday that it has completed financial audits and compliance reviews for anti-money laundering and counter-terrorism financing, both of which were conducted by one of the Big Four accounting firms. This move is a necessary preparatory step for applying for an initial public offering (IPO) in the United States.

Stablecoin issuer Circle is hiring a "Senior Director, Ecosystem Growth, South Korea" in South Korea, responsible for developing market entry strategies, tracking regulatory dynamics, and establishing partnerships within the domestic financial and digital asset industry.The position requires candidates to have over 13 years of business development experience, familiarity with stablecoins, DeFi, and institutional financial liquidity, and fluency in both Korean and English. Circle previously stated that its strategy in South Korea is not to directly issue a Korean won stablecoin, but to collaborate with local Korean won stablecoin issuers to provide infrastructure connecting to the US dollar stablecoin.

Recently, there has been a significant price deviation of fiat currency-pegged stablecoins in South Korean virtual asset exchanges. The Japanese yen stablecoin JPYC surged to four times its benchmark price after its listing, the euro stablecoin EURC skyrocketed over 400% in a single day on Bithumb, and the US dollar stablecoin PYUSD also showed a noticeable premium.Analysis suggests that the aforementioned fluctuations are due to insufficient circulation in the early listing phase combined with concentrated buying, unrelated to the issuer's asset preparation. Industry experts point out that relying solely on reserves cannot prevent price distortions in the secondary market, calling for the establishment of initial circulation guarantees, market maker (MM) and liquidity provider (LP) mechanisms during the design phase of the original Korean won stablecoin system, as well as the introduction of measures such as public disclosure of price deviation rates and restrictions on market orders.

According to informed sources, the Trump administration is considering launching an overseas stablecoin program, which may take the form of a joint venture with private enterprises. The Department of the Treasury, the State Department, and the U.S. International Development Finance Corporation (DFC) may all participate to expand the use of the U.S. dollar and support demand for U.S. Treasury bonds.Tether's latest reserve report shows that as of June 30, it directly holds $11.496 billion in U.S. Treasury bonds, with total reserve assets of $18.775 billion, exceeding liabilities by $4.11 billion. The plan has not yet established a partnership with Tether and has not yet become an officially operational project.

According to Cointelegraph, the Federal Reserve recently solicited public comments on two regulatory proposals for the issuance of payment stablecoins under the "Genius Act."The new regulations aim to establish a framework for the issuance of regulated stablecoins through full reserve asset requirements and approval processes.

Stablecoin issuer Circle's Chief Financial Officer Jeremy Fox-Geen will step down at the end of this year, and the company has begun the search for his successor.According to the disclosed departure agreement, Fox-Geen will receive a conditional cash payment of $1.05 million.

The Circle Foundation announced two grants to the United Nations Development Programme (UNDP) and the World Food Programme (WFP) to explore the application of digital payments and digital financial infrastructure in humanitarian aid and development projects.The Circle Foundation stated that the relevant programs will study how to utilize digital payments and regulated payment-type stablecoins to disburse funds to aid recipients more quickly, transparently, and at a lower cost.For the UNDP, the grant will be used to establish and operate a "Digital Asset Innovation Pool," helping country offices expand previous digital payment pilot projects conducted in Syria, Haiti, Guatemala, and Gambia from single projects to regular project execution, and provide support such as regulation, operations, and beneficiary protection; this mechanism will not replace traditional banking channels but will serve as a complementary option outside the existing payment system.For the WFP, the grant will support the establishment of governance, risk management, funding, reconciliation systems, and compliance tools necessary for stablecoin payments, and integrate local fintech and mobile payment services. Over the next three years, the WFP plans to test 2 to 3 payment channels connecting its payment system with local financial service providers and markets to assess the performance of stablecoin payments in terms of efficiency, transparency, and resilience.

According to Crowdfund Insider, SoFi Bank announced that it has used its own stablecoin SoFiUSD for transaction settlement across the entire Mastercard card business network, claiming to be the first national bank in the United States to achieve this model. SoFi previously estimated that after migrating all its debit and credit card operations to stablecoin settlement, the annual transaction volume would exceed $25 billion.SoFi launched SoFiUSD in December 2025 and opened it to users in the SoFi app in May of this year; the two parties announced their partnership in March of this year. RS2 CEO Radi El Haj stated that stablecoin settlement has moved from the previous pilot phase to actual operational phase covering the entire Mastercard network, with related settlements occurring at the underlying level of the existing card payment system, requiring no changes to the current payment methods for consumers and merchants.

According to a report by The Information, Tether has some funds trapped at one of its offshore banking partners, which is facing liquidation risk after asset seizures in the United States.Tether stated that the assets it holds at the bank EQIBank are limited, accounting for less than 0.034% of its total assets.

The Federal Reserve Board (Fed) plans to establish rules for payment stablecoins issued by banks, requiring that each $1 token be backed by at least $1 in approved reserve assets and generally completed customer redemptions within two business days. If the issuer consistently falls below the minimum capital requirements, they may be required to liquidate reserve assets and redeem all tokens.Reserve assets may include U.S. dollars, Federal Reserve bank balances, certain bank deposits, U.S. Treasury securities with a remaining maturity of no more than 93 days, qualified repurchase agreements, and qualified investment funds, with some tokenized forms of assets potentially included. If reserves are insufficient, the issuer must notify the Fed and restore adequate backing; otherwise, they must liquidate reserves and redeem tokens pegged to the dollar. The Fed intends to require issuers to hold standardized capital against operational and certain credit risks, with a capital charge of 2% for the first $20 billion of issued stablecoin and 1% for amounts exceeding $50 billion.Another proposal allows state member banks that hold deposits to apply to establish subsidiaries for issuing payment stablecoins. The "GENIUS Act" stipulates that once the application is substantively complete, the Fed must make a decision within 120 days. Fed Governor Michael Barr stated that stablecoins should be reliably and promptly redeemable at par in various market conditions and when issuers encounter problems, and he called for the final rules to clarify universal redemption rights. He also expressed concern about the threshold for triggering regulatory or enforcement actions for anti-money laundering deficiencies needing to reach "significant or systemic" levels. The public comment period will be 60 days following the publication in the Federal Register.

Chainalysis data shows that cross-border stablecoin capital flows increased by 77.5% year-on-year. While the overall scale has expanded, the capital flow remains highly concentrated.Chainalysis identified 4,708 new inter-country transfer paths, but these new paths only carry about 2.64 billion dollars, accounting for a small proportion of the total statistical amount of 220.3 billion dollars, indicating that cross-border flows of stablecoins are still dominated by a few major channels.

According to Bitcoin Magazine, former Chairman of the U.S. Commodity Futures Trading Commission Chris Giancarlo stated in an interview with Bitcoin Magazine that the expansion of government spending and currency depreciation has made Bitcoin's value proposition more prominent than ever. He believes that Bitcoin's fixed supply and scarcity make it a digital form of gold, and it is expected to become a monetary anchor in the future.Giancarlo pointed out that the Federal Reserve's interest rate hikes and the continuous rise in U.S. debt levels will actually reinforce the value logic of Bitcoin. He also mentioned that the failure of the CLARITY Act to pass does not constitute a setback for Bitcoin, as the trend towards tokenized currency is irreversible. He anticipates that by 2036, all securities issuances will be tokenized.Regarding stablecoins, Giancarlo mentioned the GENIUS Act and its impact on the demand for U.S. Treasury bonds. He also reflected on his journey of becoming interested in Bitcoin after the 2008 financial crisis, as well as his experience of being dubbed the "Crypto Dad" due to his friendly attitude towards the crypto industry.

According to The Block, the Solana Foundation announced the appointment of Rachel Conlan as Chief Strategy Officer and Jamal Raees as General Manager of Payment Business to expand institutional adoption and payment operations. Conlan previously worked at Binance for three years and held senior management positions at companies such as OKX; Raees comes from Polygon Labs and will be responsible for collaborating with payment companies, enterprises, and ecosystem partners to promote Solana as a global payment infrastructure.The Solana Foundation stated that this year, Solana's stablecoin trading volume has exceeded $50 trillion, the on-chain real-world assets (RWA) scale has surpassed $4.5 billion, and the supply of tokenized stocks has exceeded $620 million.