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Stablecoins
Stablecoins. Every Le Coin piece tagged Stablecoins, newest first, Learning Hub dives included.
Protocols & Policy
J.P. Morgan's asset manager puts two cash funds on Solana
J.P. Morgan Asset Management says its tokenized money market funds MONY and JLTXX, the second built for stablecoin issuers' reserves, are now available on Solana to qualified U.S. investors.
Protocols & Policy
Circle shareholder sues Trump over $2 billion in UAE-linked crypto deals
The suit, brought on Circle's behalf, alleges the deals broke the Constitution's ban on taking payments from foreign governments; Circle says it did not start the case, and World Liberty calls the claims without merit.
Markets
SoFi puts a bank deposit on-chain and says it is no stablecoin
SoFi's product terms describe SOFIE as a deposit liability of SoFi Bank and keep it apart from SOFID, the bank's payment stablecoin, a line the new federal stablecoin rule also draws.
Markets
Chart Desk: USDC Supply Falling, ETH Fees, and ETH Burns
Circle's USDC supply on Ethereum fell by about 570.1 million tokens in the week to Oct. 20, Ethereum's median base fee stayed below 0.1 gwei every day, and the network burned about 205 ETH in base fees.
Protocols & Policy
Solana payments now aim to settle for good in under a second
Solana's Alpenglow upgrade went live on Oct. 21, cutting the time before a transaction can't be reversed from about 12.8 seconds to a target of about 150 milliseconds, according to the Solana Foundation.
Markets
Noah says it will power Western Union's stablecoin payouts
Noah says it will convert and pay out Western Union's USDPT dollar token for the money-transfer giant's Receiver Redirect service, but neither company has given a start date or fees.
Protocols & Policy
France asks Europe to tighten crypto rules for stablecoins and trading platforms
France's finance ministry, market regulator and central bank want the EU's MiCA review to police stablecoins issued inside and outside Europe, bar services on non-compliant coins and put DeFi risk on identifiable firms. These are proposals, not law.
Protocols & Policy
Bank regulator sets stablecoin rules that take effect January 18
The OCC's final GENIUS Act rule tells banks and would-be issuers how to run a dollar stablecoin, drops a proposed test on yield payments through partners, and leaves money-laundering rules and the application window for later.
Markets
Mastercard lets AI agents pay for services within a set budget
In early access, Agent Pay for Machines puts Mastercard's permission layer on top of an open web payment protocol, with settlement on Base and through BVNK.
Protocols & Policy
Banks and crypto firms split on stablecoin copies in Treasury comments
Bank groups want Treasury's GENIUS Act rule to stop wrapped stablecoins from slipping past it; crypto and payments firms want bridging judged by what holders actually own.
Markets
Mesh partners with Visa to make wallet crypto spendable at checkout
Mesh says participating wallet apps will let users pay from crypto and stablecoin balances wherever Visa is accepted, with no card for the user to sign up for and nothing new for merchants to install.
Markets
JPMorgan puts its JPM Coin deposit token on Ethereum's main network
JPMorgan's Kinexys page now lists Ethereum alongside Base as a home for its dollar deposit token, putting bank money on the same public chain as dollar stablecoins.
Markets
Higher deposit rates slow stablecoin growth, BIS paper finds
A BIS working paper finds stablecoin growth slows when US deposit rates rise, and that banks reprice more aggressively once the Fed's rate tops about 3%, ahead of the Fed's Oct. 27-28 meeting.
Markets
Marqeta and Coinbase team up on stablecoin-backed cards for businesses
Coinbase will hold the stablecoins, convert them to fiat and settle on Base, while Marqeta issues and processes the cards. Launch customers, coins, fees and timing are not disclosed.
Protocols & Policy
Japan's three megabanks finish a joint yen stablecoin payments test
SMBC, Mizuho and MUFG say a July trial confirmed that several banks can issue one yen stablecoin together and use it for cross-border company payments.
Markets
The Chart Desk: BitMine staking, miners selling, and stablecoin supply
BitMine has reported the same staked ETH in 10 straight weekly releases, Riot sold 9,665 bitcoin against 3,060 mined in the first half of 2026, and USDT and USDC supply on Ethereum fell from October 2025 to September 2026.
Markets
Visa Direct takes USDC prefunding live, with Inyo Global first
Visa says its Visa Direct stablecoin capabilities are moving from pilot to commercial deployment, with payments processor Inyo Global the first to let businesses prefund cross-border payouts in USDC.
Protocols & Policy
Sweden's Riksbank asks lawmakers to prepare for a possible digital krona
In a letter dated Oct. 7 and published Oct. 15, Sweden's central bank told parliament's finance committee it should start a public inquiry into the laws a digital krona would need, citing security, the digital euro and stablecoins.
Markets
Cross River Bank adds Ripple's RLUSD stablecoin as a payment rail
Cross River says fintechs will reach Ripple's dollar stablecoin on the XRP Ledger through the same API they use for ACH, wires and real-time payments, though no availability date, volumes or fees were given.
Protocols & Policy
Arbitrum Foundation offers ARB incentives to apps that adopt USDG
Protocols with at least $1 million in stablecoins that make Paxos-issued USDG their primary stablecoin on Arbitrum may be eligible for incentives, and the first 10 to reach $10 million in USDG get 200,000 ARB each.
Markets
Stripe expands stablecoin-backed cards to five currencies, Plasma signs on
Stripe says its stablecoin card infrastructure will support USD, BRL, EUR, MXN and COP, and that Plasma is moving to that infrastructure to co-develop multi-currency cards. No fees, issuer, card network or launch date were given.
Markets
Tether invests in AIsa, a payments platform for AI agents
Tether Capital says it made a strategic investment of undisclosed size in AIsa, which lets AI agents pay for data, software and computing in fiat or stablecoins.
Markets
Mastercard and BVNK launch a single platform for fiat and stablecoins
The Global Money Platform puts fiat and stablecoin accounts, conversion, stablecoin-linked cards and bank payouts behind one API, after Mastercard's August acquisition of BVNK.
Protocols & Policy
EU banking regulator names USDC first significant e-money token
The European Banking Authority will take over parts of the supervision of Circle's EU issuer from France's ACPR from Nov. 12, under MiCA's rules for significant tokens.
Markets
Bank-backed Qivalis says it won Dutch e-money licence for euro stablecoin
Qivalis said on Oct. 14 that De Nederlandsche Bank has authorised it as an electronic money institution, a step it needs to issue a bank-backed euro token. Qivalis says issuance is planned to begin within the next months, subject to MiCA requirements and publication of its white paper.
Protocols & Policy
StarkWare's OffMarket lets Polymarket traders hide which wallet funds their bets
The web app parks USDC in a zero-knowledge pool on Starknet, then bridges it to a fresh Polygon wallet for each bet. The trades stay public on Polymarket; what it hides is who funded them. An auditing entity holds every user's viewing key in escrow, and U.S. persons are barred.
Markets
DriveWealth taps Ripple's RLUSD for settlement, starting in Europe
DriveWealth and Ripple said on Oct. 14 they are partnering on stablecoin settlement, payments and custody, while an equity-financing tie-up through Ripple Prime remains only under exploration.
Protocols & Policy
Perpetuals.com files notice for 24/7 tokenized-stock venue under SEC exemption
A 34-page notice published Oct. 14 says Kephas Corp., a Perpetuals.com subsidiary, plans to trade tokenized NMS stock against USDC in permissioned AMM pools on its own Ethereum-compatible Layer 2. No trading has started, and no stocks, tokenizers or liquidity providers are named yet.
Protocols & Policy
Polygon Labs completes Coinme purchase, gaining 37 U.S. money-transmitter licences
Polygon Labs says it has closed its acquisition of Coinme, a U.S.-licensed crypto payments company, months after the Q2 2026 target it set in January, when it priced the Coinme and Sequence deals together at more than $250 million, a week after state regulators ordered Coinme to pay $2.5 million and approved the change of control.
Markets
Wells Fargo helps form bank stablecoin venture as peers talk tokenized deposits
Wells Fargo said on its third-quarter call that it is establishing a new company with 20 other international financial institutions to issue stablecoins beginning in the first half of 2027, while Citi said stablecoins are 'a bit more clunky' than tokenized deposits.
Protocols & Policy
Ondo says it passed $3 billion in tokenized Treasuries as its USDY edges past BlackRock's BUIDL
Ondo says it now manages $3 billion in tokenized U.S. Treasury products. RWA.xyz data confirm that its USDY token, at about $2.31 billion, is larger than BlackRock's $2.20 billion BUIDL fund.
Protocols & Policy
Bank of Korea governor says won-stablecoin issuers will be bank-led, with banks holding 50% plus one, 'as agreed'
Governor Shin Hyun-song told lawmakers on Oct. 12 that won-stablecoin issuance would start with bank-led groups, as had been agreed, according to NATV's broadcast of the hearing, nine months after Korea's financial regulator said issuer ownership was undecided.
Markets
Bybit starts selling real US shares for a dollar stablecoin through Alpaca, exchange says
Bybit says eligible users outside the US and the other jurisdictions excluded by the product terms can now buy more than 1,000 US stocks and ETFs with USDC, routed through a Mauritius-licensed broker and held at Alpaca in that broker's name.
Markets
ICE-backed venue details tokenized-stock trading as Samsung Wallet plans stablecoin transfers
A venue co-owned by NYSE's parent published its trading rules, Samsung set a late-October date for USDC transfers, and Securitize says its tokenized US stocks are live on Solana.
Markets
Standard Chartered starts custody of Ripple's dollar stablecoin and plans an LMAX collateral link, bank says
Standard Chartered says custody of Ripple's RLUSD is live through its Dubai branch and that it plans to let the tokens back trades at LMAX without leaving the bank, subject to documentation, testing and approvals, with no date given.
Protocols & Policy
Ledger confirms implant in CryptoBilis-sold device as Bitquery counts $93.2 million stolen
Ledger says one device sold through its Southeast Asian reseller CryptoBilis carried an unauthorized hardware implant, and blockchain analytics firm Bitquery counts $93.2 million taken from 315 wallets, most of it in Tether's USDT on TRON.
Markets
Figure's loan marketplace volume rose 20% in Q3, by its preliminary count. YLDS outstanding fell 9%.
Figure's preliminary numbers put Q3 marketplace volume at $5.119 billion, which it calls "the high end" of its guidance, while the balance of its yield-bearing YLDS certificates fell over the quarter; four days before those numbers, Figure filed a shelf registration with no size attached.
Protocols & Policy
Le Coin analysis: A credit card routing bill could give banks a reason to pick a stablecoin lane, or a lane nobody uses
The Credit Card Competition Act would let merchants choose the network for a credit card payment. Le Coin's analysis: a covered bank will switch on the second network that still pays it. An independent stablecoin rail could pay it either way: interchange on Visa or Mastercard, distribution payments while coins stay outstanding on its platform. Debit routing shows the other path.
Evening brief · Thu. Oct. 22, 4:26 p.m. ET
Evening brief: Ireland fines Coinbase's EU arm, Robinhood says Dubai approved it
The Central Bank of Ireland fined Coinbase Ireland Limited €3,252,618 over customer-money safeguards, Robinhood said it received Dubai authorization for a 2027 launch, and a Circle shareholder sued Trump and World Liberty.
Evening brief · Tue. Oct. 20, 4:27 p.m. ET
Evening brief: FINMA approves Switzerland's first bitcoin ETF, Strive closes $630 million preferred sale, bitcoin ends 0.86% above Monday
FINMA approves Switzerland’s first exchange-traded fund that holds bitcoin directly.
Evening brief · Wed. Oct. 21, 4:31 p.m. ET
Evening brief: OCC finalizes its GENIUS Act stablecoin rule, Standard Chartered agrees to buy Zodia Custody, bitcoin ends 2.36% above Tuesday
The OCC finishes its GENIUS Act rule for stablecoin issuers, effective Jan. 18, 2027.
Evening brief · Mon. Oct. 19, 6:18 p.m. ET
Evening brief: JPMorgan lists JPM Coin on Ethereum, Mesh and Visa plan wallet spending, bitcoin ends 0.36% above Friday
JPMorgan lists its JPM Coin deposit token as issued on Ethereum, not only Base.
Evening brief · Fri. Oct. 16, 4:36 p.m. ET
Evening brief: CFTC event-contract rules set for Monday, bitcoin slips 0.98%, Schwab opens crypto to all eligible clients
CFTC’s event-contract proposal and casino-style rule set for Monday’s Federal Register.
Evening brief · Thu. Oct. 15, 4:45 p.m. ET
Evening brief: PPI jumps 1.3%, bitcoin up 0.69%, stablecoin rails advance
Visa Direct moves USDC prefunding from pilot to production, with Inyo Global first.
Evening brief · Wed. Oct. 14, 4:29 p.m. ET
Evening brief: September CPI at +0.6% m/m sinks bitcoin 1.71% and crypto equities, Cipher prices its $850 million convert, and the EBA tags USDC as the EU's first significant e-money token
EBA classifies Circle’s USDC as the EU’s first significant e-money token under MiCA.
Evening brief · Tue. Oct. 13, 4:29 p.m. ET
Evening brief: Strategy sets preferred-dividend start dates ahead of the Oct. 28 vote, and Cipher Digital proposes an $850 million convert
Strategy sets preferred-dividend start dates; voting closes Oct. 27.
Morning brief · Tue. Oct. 13, 8:00 a.m. ET
Morning brief: Kospi falls 5.5%, the CFTC crypto ANPRM comment clock opens through Dec. 14, and spot ether ETFs log a 10th outflow day
CFTC crypto ANPRM publishes; Dec. 14 comment clock is live.
Morning brief · Mon. Oct. 12, 8:54 a.m. ET
Morning brief: bitcoin, ether and solana rise into Columbus Day, and the CFTC proposes treating event contracts as swaps
CFTC proposes event contracts as swaps.
Evening brief · Mon. Oct. 12, 4:53 p.m. ET
Evening brief: Evernorth closes at $16.91 in its first Nasdaq session under its own name, and Strategy buys back $192 million of preferred stock
Evernorth closes its first Nasdaq session as Evernorth at $16.91 after touching $19.38.
Learning Hub · Stablecoins
Tether's USDT: what backs the dollar token and who can redeem it
Tether says each USDT is redeemable for one dollar, and BDO checked its reserves as of June 30, 2026, but only verified customers can redeem.
Learning Hub · Stablecoins
Ethena's USDe, explained: a dollar token built from hedged crypto
How Ethena says its synthetic dollar holds its value, where the backing sits, and the risks Ethena itself lists.
Learning Hub · Stablecoins
USDC
USDC is a dollar token issued by Circle Internet Financial, LLC, and runs on many blockchains.
Newest first.