Stablecoins
Stablecoins News
Latest Stablecoins analysis and market intelligence from RWA Signal.
7.5
Stablecoins
tradingview.com·2d ago
Unlimit Gains MiCA, But Stablecoin Still Point to EMI Overlap
Payments company Unlimit has officially joined the CySEC MiCA register, highlighting the shift toward a unified regulatory framework for crypto asset services across the European Union. While MiCA simplifies cross-border operations, the regulation maintains a strict distinction for stablecoins, which are classified as electronic money tokens. Issuing these tokens requires an Electronic Money Institution (EMI) license, effectively placing stablecoin issuers under the direct supervision of central banks. This regulatory overlap remains a point of contention for industry participants who face high compliance costs and complex licensing requirements. The European Central Bank continues to express skepticism toward private stablecoins, citing potential systemic risks to financial stability and monetary policy. Consequently, the ECB is prioritizing the development of a digital euro as a public-money alternative rather than supporting private sector solutions. This environment has already led to a significant market consolidation, with approximately 80% of crypto firms operating under previous national standards exiting the space, while major players like Tether remain unregistered in the bloc.
7.5
Stablecoins
Partior conducts PoC with OpenAssets to test tokenized deposit clearing for stablecoins
Partior, a multi-currency tokenized deposit network backed by systemically important banks, has completed a proof of concept with technology provider OpenAssets to streamline stablecoin settlement. The trial focused on integrating Partior’s tokenized deposit infrastructure with OpenAssets’ digital asset layer to facilitate delivery versus payment (DvP) clearing. By utilizing tokenized deposits for stablecoin redemption and clearing, the collaboration aims to bridge the gap between traditional banking rails and digital asset ecosystems. This initiative is particularly significant given OpenAssets' strategic ties to Tether and its advisor Gabor Gurbacs, who also supports the Hadron by Tether platform. The integration highlights a growing institutional push to standardize settlement processes for stablecoins using regulated bank-issued tokens. This development underscores the industry's shift toward interoperability between private bank networks and public-facing stablecoin issuers. Ultimately, the successful execution of this proof of concept demonstrates a viable path for reducing counterparty risk in high-volume digital asset transactions.
5.5
Stablecoins
BISON Surpasses 70 Cryptocurrencies with Eight New Token Listings Including EURCV and Render
BISON, the crypto trading app developed by Boerse Stuttgart Digital, has expanded its platform offerings by adding eight new cryptocurrencies, bringing its total selection to over 70 assets. The new listings include EURCV, a euro-denominated stablecoin issued by Société Générale-FORGE, and Render, a decentralized GPU rendering network. This expansion reflects the growing integration of regulated financial institutions into the digital asset space by providing users with access to both established tokens and specialized utility assets. By incorporating institutional-grade stablecoins like EURCV, BISON bridges the gap between traditional finance and blockchain-based ecosystems. The platform continues to leverage the infrastructure of Boerse Stuttgart, Germany’s second-largest stock exchange, to ensure secure and compliant trading environments. This development highlights the ongoing trend of European financial entities diversifying their digital asset portfolios to meet increasing retail and institutional demand. Such moves are critical for the RWA market as they normalize the presence of tokenized fiat and utility-based assets on mainstream trading platforms.
7.5
Stablecoins
Clarity Act Talks Intensify as Banks Seek Final Revisions
The American Bankers Association, led by CEO Rob Nichols, has expressed support for the Clarity Act while simultaneously lobbying for specific revisions before a final congressional vote. The proposed 600-page bill aims to establish a comprehensive federal regulatory framework for the United States crypto market, with lawmakers pushing for advancement before the August recess. Banking institutions are primarily concerned that stablecoin reward programs offered by crypto platforms could siphon deposits away from local lenders, potentially restricting capital available for household and small business loans. This legislative tension highlights the ongoing friction between traditional banking interests and the digital asset industry, as seen in Coinbase's previous withdrawal of support over reward restrictions. Despite these disputes, major financial players including Fidelity and Goldman Sachs have backed the revised text, signaling institutional interest in integrating blockchain-based payment services. The bill also includes provisions to prevent federal officials from issuing or promoting digital assets to mitigate political conflicts of interest. Ultimately, the outcome of these negotiations will determine the regulatory landscape for stablecoins and the broader RWA tokenization ecosystem in the U.S.
5.5
Stablecoins
USDM RESERVES LIMITED - Royal Gazette
USDM Reserves Limited, a Bermuda-based entity, has officially filed a notice of voluntary winding up in accordance with the Companies Act 1981. The company appointed Kehinde George of EY Bermuda Ltd as the liquidator to oversee the dissolution process effective July 24, 2026. This development marks a significant exit for the issuer of the USDM stablecoin, which was designed to provide a tokenized representation of U.S. dollar reserves. The liquidation process requires all creditors to submit their claims to the liquidator by August 28, 2026, to ensure proper settlement of outstanding liabilities. For the broader RWA market, this event highlights the inherent risks associated with the operational stability and regulatory compliance of smaller stablecoin issuers. The dissolution of such entities underscores the importance of transparency and robust reserve management in maintaining investor confidence within the tokenized asset ecosystem. As the RWA sector matures, the exit of individual issuers serves as a reminder of the necessity for rigorous oversight and clear wind-down procedures for digital asset projects.
7.5
Stablecoins
Bison Bank secures Portugal’s first full MiCA crypto license
Bison Bank has become the first Portuguese bank to receive authorization as a Crypto-Asset Service Provider (CASP) under the European Union's Markets in Crypto-Assets (MiCA) regulation. This milestone allows the bank to integrate its crypto operations directly into its core banking services, moving away from its previous subsidiary-based model. The bank has also launched its own MiCA-compliant stablecoins, EUB and USB, which are pegged to the euro and US dollar respectively. With a strong capital position and a 38.5% Common Equity Tier 1 ratio, Bison Bank is positioning itself to capture institutional demand for regulated digital asset services. The bank has explicitly signaled plans to expand into the tokenization of real-world assets, leveraging its new regulatory status to attract European family offices and asset managers. By obtaining this license, Bison Bank gains passporting rights across all 27 EU member states, significantly expanding its potential market reach. This development is significant for the RWA market as it demonstrates how traditional financial institutions are utilizing comprehensive regulatory frameworks to bridge the gap between conventional banking and tokenized finance.
8.0
Stablecoins
Tokenized USD Liquidity: Bybit Finloop Partnership Launches FUIDL
Bybit has partnered with Finloop Finance Technology Holding Limited to launch FUIDL, a tokenized USD liquidity product designed to bring institutional-grade money market standards to the blockchain. The underlying fund backing FUIDL holds triple-AAA ratings from Standard & Poor’s, Moody’s, and Fitch, distinguishing it from higher-risk tokenized assets. Bybit users can utilize FUIDL shares as collateral for trading, allowing for capital efficiency by earning yield while maintaining active market positions. The collaboration leverages Finloop’s infrastructure to enable T+0 settlement, directly challenging the T+1 or T+2 timelines standard in traditional finance. This launch reflects a broader industry shift toward integrating traditional financial rigor with the speed and transparency of blockchain technology. As the tokenized asset market grows, reaching an estimated $7.5 billion by July 2026, such products aim to bridge the gap between institutional allocators and digital asset ecosystems. The success of this T+0 settlement pilot could set a new benchmark for operational efficiency and interoperability across global financial markets.
7.5
Stablecoins
JPYC tokenized yen sees market cap rise 60% in a month
JPYC, Japan’s first regulated yen-pegged stablecoin, has experienced significant growth with its market cap rising approximately 59.5% over the past month. This surge is highlighted by a 132.8% increase on the Polygon blockchain, signaling growing institutional interest in localized stablecoin solutions. The momentum accelerated on July 20, 2026, when logistics giant AZ-COM Maruwa Holdings announced the adoption of JPYC for payments to 2,300 supply chain partners. Furthermore, AZ-COM committed a ¥1 billion investment, equivalent to roughly $6.7 million, into the JPYC ecosystem. Operating under Japan’s fund transfer business framework, JPYC is backed by domestic yen deposits and Japanese government bonds, distinguishing it from offshore stablecoins. The project previously secured $12 million in Series B funding from Japanese corporate and institutional backers in February 2026. This development underscores the potential for regulated, fiat-backed tokens to streamline B2B payments within traditional supply chains, though liquidity and geographic regulatory constraints remain key considerations for future scaling.
7.5
Stablecoins
Boerse Stuttgart Digital brings SG-Forge’s euro stablecoin into regulated infrastructure
Boerse Stuttgart Digital has integrated EUR CoinVertible, a MiCA-compliant euro stablecoin issued by Societe Generale-Forge, into its regulated trading and custody infrastructure. This development represents the first time a bank-issued euro stablecoin has been onboarded into the Boerse Stuttgart Digital ecosystem. The integration leverages the existing two-decade partnership between Boerse Stuttgart Group and Societe Generale to enhance institutional access to regulated digital assets. By incorporating a MiCA-compliant asset, the firm strengthens its position within the European digital finance landscape while providing institutional clients with a reliable, bank-backed stablecoin option. This move is significant for the RWA market as it demonstrates the practical application of MiCA regulations in bridging traditional banking infrastructure with blockchain-based assets. It signals a growing trend of institutional adoption where established financial entities utilize regulated stablecoins to facilitate secure, on-chain transactions. Ultimately, this integration serves as a blueprint for how bank-issued digital assets can be seamlessly embedded into existing institutional trading frameworks.
6.5
Stablecoins
XRP Tests $1.10 Level as Ripple MiCA License and ETF Inflows Shape Outlook
Ripple is actively positioning itself for institutional adoption through a combination of regulatory milestones and strategic infrastructure investments. The company reportedly secured a full Crypto-Asset Service Provider (CASP) authorization under the EU's MiCA framework, potentially granting it passporting rights across 27 European jurisdictions. Simultaneously, Ripple has invested in the compliance firm Notabene to integrate its upcoming RLUSD stablecoin into enterprise-grade transaction networks, focusing on FATF-compliant 'travel rule' standards. These moves are designed to make Ripple's payment rails more attractive to banks and corporate entities by embedding regulatory compliance directly into the flow of funds. While XRP price action remains volatile near the $1.10 technical level, the ecosystem is expanding its utility beyond simple payments. Recent developments include the launch of an XRPL lending protocol and a reported milestone of over 1 million agentic transactions executed by AI. These efforts collectively signal a shift toward regulated distribution and institutional-grade settlement, aiming to move the XRP Ledger beyond its traditional identity.
8.0
Stablecoins
Crypto Market Update: Senate Pressed for Action on CLARITY Act
Ripple has launched Ripple Mint, a dedicated platform enabling institutional clients to mint, redeem, and manage its U.S. dollar-pegged stablecoin, RLUSD. This infrastructure supports both manual and automated workflows, facilitating the integration of stablecoins into corporate payments and treasury management. Concurrently, Ondo Finance’s broker-dealer subsidiary, Oasis Pro Markets, received authorization to offer tokenized equities, ETFs, and mutual funds to U.S. investors under SEC and FINRA oversight. These developments represent a significant expansion of institutional-grade RWA infrastructure, moving beyond speculative assets toward functional financial tools. Ripple’s RLUSD has reached a market capitalization exceeding $1.8 billion, while Ondo’s platform has processed over $20 billion in volume. These milestones highlight the growing trend of traditional financial institutions adopting blockchain-based rails for asset management and settlement. The integration of these tools into existing brokerage systems underscores the maturation of the RWA market as it seeks to bridge the gap between legacy finance and digital asset efficiency.
9.0
Stablecoins
USDT Delisted in the EU: Why Tether Skipped MiCA - tech
As of July 1, 2026, MiCA-licensed exchanges across the European Economic Area (EEA) ceased offering USDT trading pairs, marking a significant regulatory shift for the world's largest stablecoin. Tether, with approximately $184 billion in circulation, opted not to pursue e-money token authorization under MiCA, citing objections to rules requiring 60% of reserves in EU bank deposits as incompatible with its operational scale. This decision has created a bifurcated market where EEA residents can legally hold USDT in self-custody but cannot trade it on regulated platforms within the bloc. The regulatory vacuum has notably shifted liquidity for European users towards decentralized exchanges (DEXs), a trend regulators are observing. Conversely, Circle's USDC, with an $80 billion market capitalization, has emerged as the dominant authorized e-money token in the EEA, having secured a French electronic money institution license that passports across all 30 member states. Tether, despite the delisting, strategically invested in MiCA-compliant European issuers like StablR and Quantoz, maintaining regulated exposure without subjecting its flagship token to the contested reserve mandates. This event underscores the profound impact of regional regulatory frameworks on global stablecoin adoption and market dynamics.
7.5
Stablecoins
Bloomberg investigation examines Tether’s lobbying efforts ahead of GENIUS Act
A Bloomberg investigation has detailed Tether's extensive lobbying efforts to influence the development and passage of the U.S. GENIUS Act, the nation's first federal regulatory framework for payment stablecoins. The report alleges that Tether executives and advisers engaged with key figures in the Trump administration, including Commerce Secretary Howard Lutnick and adviser David Sacks, to shape specific provisions regarding foreign issuers. These negotiations reportedly focused on critical areas such as compliance requirements for overseas entities, reserve management rules, and the transition timelines for foreign-issued stablecoins entering the U.S. market. By analyzing court filings, financial disclosures, and interviews with officials, the investigation highlights how Tether sought to secure favorable regulatory conditions for its USDT stablecoin. The final version of the GENIUS Act reflects several adjustments made during these intense legislative debates, impacting how international issuers must operate within the U.S. financial system. This development is significant for the RWA market as it underscores the growing intersection between major stablecoin issuers and federal policy-making. The outcome of these lobbying efforts directly affects the competitive landscape for dollar-pegged assets and the broader integration of tokenized liquidity into the U.S. economy.
7.5
Stablecoins
Circle Pushes a MiCA Fix That Could Bring Tether Back to Europe
Circle is advocating for a regulatory adjustment to the European Union's Markets in Crypto-Assets (MiCA) framework that would potentially allow Tether to resume operations within the region. Currently, MiCA imposes strict reserve and issuance requirements that have led major stablecoin issuers like Tether to limit their services for European users. By proposing a technical fix to the equivalence rules, Circle aims to create a pathway for non-EU stablecoin issuers to comply with local standards without needing to launch entirely new, region-specific tokens. This development is significant for the RWA market because it highlights the ongoing tension between global liquidity and localized regulatory compliance. If successful, this shift could stabilize the fragmented stablecoin landscape in Europe and provide a clearer roadmap for other RWA-backed assets to navigate cross-border legal frameworks. The move underscores the industry's push for interoperability as a prerequisite for the mass adoption of tokenized assets. Ultimately, this regulatory dialogue serves as a bellwether for how global jurisdictions will balance consumer protection with the operational realities of decentralized finance.
7.5
Stablecoins
Goldman Sachs Backs CLARITY Act, but Banks Push Back
Goldman Sachs CEO David Solomon has publicly endorsed the CLARITY Act, arguing that the proposed legislation is essential for establishing a clear regulatory framework and market structure for digital assets. Solomon believes the bill will foster innovation and market stability, though he acknowledges that the current draft is not perfect. This stance contrasts sharply with other major banking leaders, including JPMorgan Chase CEO Jamie Dimon, who have expressed significant concerns regarding the bill. Critics from the banking sector argue that the legislation could grant crypto firms unfair regulatory advantages by allowing them to offer products like interest-bearing stablecoins without adhering to the same stringent consumer protections as traditional banks. The debate centers on whether companies providing bank-like services should be subject to equivalent oversight and capital requirements. Coinbase CEO Brian Armstrong has countered these concerns, suggesting that banks are lobbying to stifle competition from stablecoin rewards. As negotiations continue in Congress, the bill aims to delineate the specific jurisdictional responsibilities of the SEC and the CFTC regarding digital assets. The outcome of these discussions is critical for the RWA market, as it will determine the regulatory environment for tokenized deposits and yield-bearing assets.
7.5
Stablecoins
LayerZero, Keeta enable tokenized bank deposits across Ethereum, Solana and Base
LayerZero and Keeta have announced a strategic partnership to facilitate the native transfer of tokenized bank deposits across multiple blockchain networks, including Ethereum, Solana, and Base. By leveraging LayerZero’s omnichain interoperability protocol, this integration allows financial institutions to move tokenized assets seamlessly between disparate ecosystems without relying on fragmented liquidity pools. This development addresses a critical friction point in the RWA market, where the inability to move regulated assets across chains has historically hindered institutional adoption. The collaboration aims to enhance the utility of tokenized deposits by ensuring they remain functional and liquid regardless of the underlying blockchain infrastructure. As financial institutions increasingly explore tokenization to improve settlement efficiency, cross-chain interoperability becomes a foundational requirement for scaling these products. This move signals a shift toward a more interconnected RWA landscape where bank-issued tokens can operate across the most prominent public and private networks. Ultimately, the partnership underscores the growing necessity for robust cross-chain messaging standards to support the institutional-grade tokenization of traditional financial instruments.
8.0
Stablecoins
Boerse Stuttgart Adds SG-FORGE’s Euro Stablecoin
Boerse Stuttgart Digital has integrated Societe Generale-FORGE’s EUR CoinVertible stablecoin into its trading and custody infrastructure, marking the first time a bank-issued, MiCAR-compliant euro stablecoin has been onboarded into its regulated ecosystem. This move represents a strategic shift for the infrastructure provider, which is prioritizing euro-denominated assets over the Web3-native, dollar-based stablecoins that dominate most crypto platforms. The integration builds upon a long-standing partnership between the Boerse Stuttgart Group and Societe Generale, which previously collaborated on the Seturion settlement platform for tokenized securities. By utilizing a bank-issued stablecoin, Boerse Stuttgart Digital aims to provide institutional clients with a secure, compliant instrument for settlement and payments. This development underscores a broader industry trend where regulated financial institutions are positioning themselves as the primary architects of digital asset infrastructure in Europe. The initiative is framed as a matter of European strategic sovereignty, reducing reliance on non-European stablecoin alternatives. Ultimately, this partnership serves to bridge the gap between traditional capital markets and the emerging digital asset economy through a fully regulated framework.
7.5
Stablecoins
Clarity Act’s impact on Circle could be negative over the long term, Mizuho says
The proposed Clarity Act has advanced in the U.S. legislative process following the release of updated text by Republican lawmakers. Analysts at Mizuho Securities suggest that while the bill aims to provide a regulatory framework for stablecoins, its long-term implications for issuers like Circle could be negative. The legislation seeks to establish federal oversight for payment stablecoin issuers, potentially imposing stricter compliance requirements than those currently faced under state-level regimes. For the broader RWA market, this development highlights the ongoing tension between fostering innovation and implementing rigorous federal supervision. If enacted, the bill would significantly alter the operational landscape for stablecoin providers, who serve as the primary liquidity rails for tokenized assets. The potential for increased capital requirements and restricted asset backing could impact the growth trajectory of the sector. This legislative movement underscores the critical role of regulatory clarity in shaping the future of institutional participation in blockchain-based financial products.