Stablecoin News and Analysis

Latest reporting on stablecoins, payments, regulation, tokenized assets and digital money. Leading story: For the first time since Congress taxed the state banknote out of existence in 1865, companies that are not banks issue dollars that people spend. There are $318 billion of them, fully reserved, forbidden by law to be lent, and cleared through the banks their issuers set out to leave.

The Return of Private Money — lead story artwork
The Return of Private Money — lead story artwork

ECB Launches Pontes for Central Bank Money Settlement of Tokenised Assets. Pontes links market DLT platforms to TARGET Services, with an initial group ready to use its core settlement functions immediately and broader features planned through 2028. Worldline Launches UCP Payment Handler for Agentic Commerce. Global Collect merchants can expose enabled cards, wallets and European payment methods to UCP platforms while keeping Worldline credentials on their own servers. SEC Grants Conditional Relief for Tokenized Stock Trading Venues. The five year temporary framework lets qualifying U.S. venues use permissioned liquidity pools for tokenized NMS stocks while preserving issuer rights and market halts. Modern Treasury Adds Non Custodial Stablecoin Wallets in Early Access. Select customers can combine user controlled stablecoin wallets with Modern Treasury's fiat accounts, payment orchestration and ledger through one API. ESMA Finds Tokenised Equities Still Depend on Offchain Ownership and Cash Settlement. Europe's securities regulator says most tokenised equity structures remain wrapped, legally offchain and dependent on conventional cash settlement. Reap Launches Virtual Asset Ledger for Bitcoin Funded Card Spending. Clients retain custody of underlying assets while Reap authorizes card transactions against mirrored balances and settles network debt from USDC or USDT collateral. DBS, OCBC and UOB Complete Live SGD Tokenised Deposit Transactions on Swift Ledger. Singapore's three local banks used Swift's ledger to match and net tokenised deposit obligations before final settlement through existing systems. MoneyGram Launches Stablecoin Backed Digital Card in Colombia. Eligible customers can spend a stable dollar balance through a digital card. A physical card and ATM access are planned for late 2026. Visa Introduces Onchain Credit for Stablecoin Card Settlement as Annualized Settlement Tops $20 Billion. Visa is linking VisaNet data to onchain credit for stablecoin card settlement. Visa says settlement now exceeds a $20B annualized run rate. Circle Agrees to Acquire Tazapay, Adding 100+ Payout Markets to USDC Infrastructure. Circle agreed to acquire Tazapay, adding 60+ banking and fintech partners and payout reach across 100+ markets, subject to approvals. U.S. Bank Completes Live USBDC Cross Border Pilot on Stellar. U.S. Bank used USBDC in a live North America–Europe payment on Stellar, testing minting, redemption, freeze and clawback controls. Coinbase and Moov Partner to Bring Stablecoin Payments to Community Bank Software. Coinbase and Moov will add stablecoin payments, funding and custody to software serving 1,000+ community banks and credit unions. DBS and Citi Complete Weekend USD Payment With Tokenised Deposits on Swift Digital Ledger. DBS and Citi completed a weekend USD payment between Singapore and the U.S. using tokenised deposits through Swift's Digital Ledger. Swiss CHFD Stablecoin Sandbox Starts Live Tests With SIX and TWINT. Switzerland's CHFD sandbox entered live testing with SIX and TWINT. The restricted test is not a public stablecoin launch. Mastercard Launches Agent Connect to Link Merchants With AI Shopping Agents. Mastercard launched Agent Connect to link merchants with AI agents while retaining control over product data, access and business rules. Mastercard Launches Wallet Pay Across NFC, QR and Online Wallet Payments. Mastercard Wallet Pay connects digital wallets to Mastercard acceptance across NFC, QR and online payments, with partners across multiple regions. SEBI Launches Demat 2.0 Pilot for Tokenised Corporate Bonds With Digital Rupee Settlement. India's Demat 2.0 pilot completed ₹1,025 crore of tokenised bond issuance with settlement against the RBI's wholesale digital rupee. Tether and Fasanara Launch $400 Million StableFund for Private Credit. Tether and Fasanara launched StableFund with $400M of sponsor capital and a target of up to $3B in third party institutional commitments. The Return of Private Money. For the first time since Congress taxed the state banknote out of existence in 1865, companies that are not banks issue dollars that people spend. There are $318 billion of them, fully reserved, forbidden by law to be lent, and cleared through the banks their issuers set out to leave. 21 Financial Institutions Plan Shared Dollar Stablecoin for First Half of 2027. The proposed issuer would start with dollars and prioritize a later euro offering. Company formation remains subject to closing conditions.

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