Stablecoins
Stablecoins News
Latest Stablecoins analysis and market intelligence from RWA Signal.
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Stablecoins
Ledger Insights·Jul 21
Augustus raises $180 million funding as it chases a full US bank charter and Fed account
Augustus, formerly known as Ivy, has secured $180 million in Series B funding at a $1 billion valuation, led by Tiger Global with participation from prominent fintech founders. The startup is pursuing a full-service national bank charter from the Office of the Comptroller of the Currency, having already received preliminary conditional approval in May. Unlike the limited national trust charters held by many digital asset firms, a full bank charter would allow Augustus to accept deposits, issue loans, provide FDIC insurance, and access a Federal Reserve master account. This direct access to the Fed would enable the company to clear U.S. dollars independently, bypassing the need for correspondent banking intermediaries. Founded in 2022, the company has already established a regulated European presence through its subsidiary, Ivy Pay Oy, which provides crypto on-and-off ramps and euro clearing services for clients like Kraken. This strategic move toward a U.S. banking license represents a significant effort to bridge traditional finance and digital assets by integrating institutional-grade regulatory compliance. The successful funding round highlights strong investor confidence in the company's ambition to build a Global Dollar Bank capable of operating at the intersection of legacy banking and blockchain-based payments.
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Stablecoins
Soil Launches First RWA Yield Protocol for RLUSD on XRP Ledger
ORQO Group has launched Soil, a compliant real-world asset yield protocol, on the XRP Ledger to provide fixed on-chain returns for holders of Ripple’s RLUSD stablecoin. This integration marks the first time RLUSD holders can access yield-generating opportunities directly on the ledger, signaling a strategic expansion for the asset. ORQO Group, which manages approximately $300 million in assets and holds regulatory licenses in Poland and Malta, is leveraging this deployment to bolster its global presence from its new headquarters in Abu Dhabi. The move coincides with the XRP Ledger’s recent growth in tokenized asset value, where it has surpassed Solana in specific metrics. To support institutional adoption, the XRP Ledger recently activated a permissioned DEX amendment, enabling restricted trading venues for approved participants. Ripple is simultaneously collaborating with Aviva Investors to explore the tokenization of traditional fund structures on the network. This development highlights the ongoing evolution of the XRP Ledger from a cross-border payment rail into a robust infrastructure for regulated financial products.
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Stablecoins
Startale Group Joins SBI and DigiFT to Tokenize a $1.3 Billion Equity Fund With JPYSC Stablecoin
SBI Group, DigiFT, and Startale Group have successfully completed a proof-of-concept trial demonstrating the use of JPYSC, a trust-based Japanese yen stablecoin, to manage the full lifecycle of tokenized securities. Conducted on an Ethereum testnet, the initiative focused on the SBI Japan High Dividend Equity Fund, which manages approximately $1.3 billion in assets. The trials successfully replaced traditional, multi-day banking settlement cycles with near-instant settlement for fund subscriptions. Furthermore, the project utilized smart contracts to automate dividend distributions directly to investor wallets, eliminating manual administrative overhead. This development is significant for the RWA market as it addresses the persistent bottleneck where tokenized assets are often hampered by slow, legacy cash settlement infrastructure. By integrating a regulated stablecoin as the settlement layer, the partners have created a blueprint for more efficient, programmable capital markets. The collaboration aims to enhance the global competitiveness of Japan's financial sector while paving the way for future integration with institutional DeFi platforms.
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Stablecoins
South Korea eyes September launch for second phase of CBDC pilot: Report
The Bank of Korea is preparing to launch the second phase of its Project Hangang wholesale central bank digital currency (CBDC) pilot as early as September. This expansion increases the number of participating financial institutions from seven to nine, with the addition of regional lenders Kyongnam Bank and iM Bank. The pilot utilizes a blockchain-based wholesale CBDC as the primary settlement asset for deposit tokens issued by commercial banks. Building on the first phase, which saw 81,000 participants complete over 114,000 transactions, the new stage focuses on commercialization and practical utility. Key features being tested include government subsidy disbursements, peer-to-peer transfers, and biometric authentication. By integrating merchant partnerships, the project aims to bridge the gap between institutional blockchain infrastructure and everyday consumer payments. This development is significant for the RWA market as it demonstrates a sovereign-led framework for tokenized bank deposits, setting a precedent for how national currencies can be digitized for scalable, real-world financial applications.
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Stablecoins
What’s next as GENIUS Act misses first major rulemaking deadline?
The U.S. GENIUS Act, a landmark framework for stablecoins, missed its initial July 18, 2027, deadline for finalizing essential regulatory rulemakings. Although six regulators have introduced 10 proposals, none have reached completion, leaving critical areas like Bank Secrecy Act and sanction compliance for FDIC-supervised issuers still open for public comment. Despite this delay, Federal Reserve Chairman Kevin Warsh indicated that final rules are expected to be issued shortly. The legislation is designed to establish reserve requirements and anti-money laundering provisions to foster innovation while protecting consumers. Since the Act's passage, the stablecoin market has expanded from $250 billion to over $300 billion in total supply. Major financial institutions like Fidelity have entered the space, and platforms such as Phantom have seen stablecoin balances grow by 20% to $2.82 billion. This regulatory uncertainty remains a focal point for the banking industry, which has expressed concerns regarding potential yield loopholes and regulatory arbitrage. The successful implementation of these rules is considered vital for the U.S. to maintain a leadership position in the global digital asset economy.
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Stablecoins
Bybit Emerges as Surprise Winner After $1.8B USDC Flees Binance Post-MiCA
Binance experienced $1.8 billion in net USDC outflows during Q2 2026, including $1.4 billion in June, following its failure to secure a MiCA license. This 19% decline in Binance's tracked USDC balance occurred alongside a 5.5% contraction in total USDC supply, representing approximately $4.3 billion in net redemptions from the broader ecosystem. Contrary to expectations that OKX would capture these flows, Bybit emerged as the primary beneficiary, increasing its USDC reserves by 45% from $450 million to $660 million. This growth was driven specifically by demand for USDC-margined perpetual contracts and options rather than spot trading. The shift highlights that regulatory uncertainty regarding MiCA compliance is prompting traders to migrate to platforms offering specific derivatives infrastructure. Despite these outflows, Binance maintains a dominant position, controlling 62% of combined stablecoin balances and 80% of CEX-hosted USDC. This trend underscores that stablecoin distribution is increasingly dictated by product-specific utility and jurisdictional risk management rather than simple market share migration.
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Stablecoins
Stablecoin News: WisdomTree Launches USDW Stablecoin With Dividend Payments for Tokenized Assets
WisdomTree has officially entered the stablecoin market with the launch of USDW, a digital asset issued by the New York-chartered WisdomTree Digital Trust Company. This launch follows the passage of the U.S. GENIUS Act, which provides a regulatory framework for digital dollar infrastructure. USDW distinguishes itself by offering dividend payments on eligible tokenized assets, which can be received directly in USDW or through reinvestment programs. The stablecoin currently supports tokenized products such as the Government Money Market Digital fund and operates on the Stellar blockchain. WisdomTree plans to expand the asset to additional blockchain networks in the future to increase accessibility. Treasury Secretary Scott Bessent has projected that the broader stablecoin market could reach a valuation of $3.7 trillion by 2030. This development marks a significant step in integrating traditional financial dividend structures with blockchain-based stablecoin technology, signaling a maturing landscape for institutional RWA adoption.
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Stablecoins
BlackRock Urges OCC To Scrap Tokenized Reserve Cap
BlackRock submitted a formal 17-page comment letter to the Office of the Comptroller of the Currency on May 2, 2026, challenging restrictive draft rules regarding stablecoin reserve management under the GENIUS Act. The firm specifically urged the agency to remove caps on tokenized reserves and requested that exchange-traded funds investing in eligible assets be granted the same quantitative safe harbor status as government money market funds. By advocating for the principles-based 'Option A' over mandatory daily minimums, BlackRock aims to provide issuers with greater flexibility in managing liquidity and reserve diversification. The letter also proposed expanding the list of eligible reserve assets to include U.S. Treasury floating-rate notes with up to two years of maturity. This intervention is significant as it highlights the tension between traditional financial institutions and regulators attempting to standardize the rapidly evolving stablecoin sector. With a federal compliance deadline looming in January 2027, BlackRock's recommendations could fundamentally shape the operational framework for stablecoin issuers. The firm's active involvement underscores its strategic commitment to integrating its Select Treasury Based Liquidity Fund into the broader digital asset ecosystem.
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Stablecoins
How to Build a Mountain Protocol USDM Tracker with CoinMarketCap API
Mountain Protocol has established a significant presence in the RWA sector by launching USDM, a regulated, yield-bearing stablecoin backed entirely by short-duration U.S. Treasury Bills. Operating under a digital assets business license from the Bermuda Monetary Authority, the protocol differentiates itself from competitors like Ondo and Usual by combining regulatory oversight with a permissionless structure. The asset utilizes a daily rebasing mechanism that automatically distributes T-bill yields to holders without requiring staking or locking. As of early 2026, USDM has achieved a supply exceeding $500 million across the Ethereum, Polygon, Arbitrum, and Base blockchains. Integration into major DeFi platforms such as Morpho and Pendle has further solidified its utility within the ecosystem. Because USDM is designed to maintain a stable price near $1.00, market participants are encouraged to monitor market capitalization growth rather than price volatility as the primary indicator of adoption. This development highlights the growing trend of integrating traditional financial instruments into decentralized finance through transparent, regulated on-chain vehicles.
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Stablecoins
Dutch Regulator Authorizes BitPay Under MiCA Rules
BitPay has officially secured authorization from the Dutch Authority for the Financial Markets to operate as a crypto-asset service provider under the European Union’s Markets in Crypto-Assets (MiCA) regulation. This milestone allows the company to leverage passporting rights to offer payment processing and consumer crypto services across all 27 EU member states from a single regulatory base. By replacing previous national anti-money laundering registrations with this harmonized framework, BitPay significantly reduces compliance fragmentation for its cross-border operations. The authorization specifically supports the company's strategic initiative to expand stablecoin payment services, with USDC currently serving as its primary offering. As stablecoin transactions represent a growing share of BitPay's total volume, this regulatory clarity provides a stable foundation for institutional and consumer adoption. The move highlights the Netherlands' growing role as a preferred jurisdiction for crypto firms seeking to align with unified European standards. This development is critical for the RWA market as it establishes a compliant, standardized infrastructure for the movement of tokenized value and stablecoins across the entire European bloc.
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Stablecoins
Societe Generale Lists MiCA-Compliant Dollar Stablecoin on MetaMask
Societe Generale-FORGE has integrated its MiCA-compliant dollar stablecoin, USD CoinVertible (USDCV), into the MetaMask wallet through a strategic partnership with Consensys. This development allows MetaMask users to access a regulated dollar-pegged asset issued by a major European financial institution. USDCV is fully backed by cash and cash-equivalent reserves and is redeemable at a 1:1 ratio, ensuring stability and regulatory transparency. By leveraging the infrastructure of Consensys, Societe Generale-FORGE aims to broaden the accessibility of compliant digital assets for retail and institutional participants. This move highlights the growing trend of traditional banks utilizing blockchain technology to bridge the gap between legacy finance and decentralized ecosystems. The integration follows the successful launch of the firm's euro-denominated stablecoin, EUR CoinVertible, which has already expanded across multiple blockchain networks. This expansion signifies a broader commitment by Societe Generale to establish a robust, multichain presence for its regulated digital currency offerings.
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Stablecoins
Visa launches stablecoin platform, taking the opposite path to Stripe
Visa has officially launched the Visa Stablecoin Platform (VSP), an enterprise-grade environment designed to facilitate the minting, redemption, holding, and transfer of stablecoins for financial institutions and fintech firms. The platform debuts with support for Open USD (OUSD), a consortium-backed stablecoin supported by over 140 partners, including Visa itself. By offering a wallet-as-a-service feature and robust operational controls like dual-approval workflows, Visa aims to simplify the technical complexities of stablecoin integration for traditional banks. This move signifies a strategic decision by Visa to maintain its historical role as a provider of payment rails and risk management infrastructure rather than acting as an issuer of currency. This approach contrasts sharply with competitors like Stripe, which have recently pursued different strategies for integrating stablecoin payments. By positioning itself as the underlying infrastructure layer, Visa is effectively bridging the gap between legacy financial systems and the growing stablecoin ecosystem. The launch of VSP represents a significant step in institutionalizing stablecoin adoption by providing a familiar, regulated-style framework for global money movement.
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Stablecoins
US and UK Join Forces to Advance Cross-Border Tokenized Assets and Stablecoins
The United States and the United Kingdom have established a formal partnership to harmonize regulatory frameworks for stablecoins and tokenized financial assets. This collaborative roadmap aims to foster cross-border interoperability, addressing the current fragmentation that hinders global institutional adoption of blockchain-based finance. By aligning standards, both nations seek to provide legal clarity for financial institutions looking to issue tokenized securities and payment stablecoins across jurisdictions. The initiative emphasizes the importance of consumer protection and financial stability while encouraging innovation in digital asset infrastructure. This move is significant for the RWA market as it signals a shift toward institutional-grade regulatory environments that could unlock trillions in traditional asset liquidity. By bridging the gap between US and UK financial systems, the roadmap reduces the compliance burden for firms operating globally. Ultimately, this cooperation serves as a blueprint for other nations to follow, potentially accelerating the mainstream integration of tokenized real-world assets into the global financial architecture.
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Stablecoins
U.S., U.K. unveil stablecoin roadmap as CLARITY Act stalls: ‘For their own political gain!’
The United States and the United Kingdom have issued a joint 10-point statement outlining a collaborative framework to reduce regulatory friction for stablecoins and tokenized assets. Both nations aim to facilitate cross-border finance by aligning on reserve, liquidity, and prudential requirements while explicitly pledging to avoid imposing disproportionate or burdensome reserve mandates. The U.K. has recently adjusted its stance, allowing up to 70% of stablecoin reserves to be held in yield-bearing bonds, a move that aligns more closely with the U.S. GENIUS Act framework. Despite this international cooperation, domestic regulatory progress remains uneven, as the U.K. prepares to implement its comprehensive crypto framework by 2027. Conversely, the U.S. CLARITY Act faces significant legislative stagnation, with passage probability dropping to 38% due to partisan political friction. This divergence highlights a growing risk that the U.S. may fall behind in the global race to establish a frictionless environment for tokenized capital markets. The commitment to innovation as an anchor pillar underscores the strategic importance both governments place on integrating stablecoins into the future of digital money.
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Stablecoins
78 Banking Groups Push Senate to Rewrite CLARITY Act Section 404
The American Bankers Association, the Independent Community Bankers of America, and 76 state banking associations have formally requested targeted revisions to Section 404 of the CLARITY Act. In a July 13 letter addressed to Senate Majority Leader John Thune and Minority Leader Chuck Schumer, these 78 organizations outlined specific concerns regarding the pending legislation. The CLARITY Act aims to establish a regulatory framework for stablecoins, which are critical components of the RWA ecosystem as they often serve as the primary liquidity bridge for tokenized assets. By seeking to influence the legislative language, these banking groups are attempting to shape how stablecoin issuers interact with the traditional financial system. This intervention highlights the growing tension between legacy banking institutions and the emerging digital asset sector as regulators move toward formal oversight. The outcome of these proposed revisions could significantly impact the operational requirements for stablecoin providers and the broader integration of blockchain-based assets into the U.S. economy. Ensuring regulatory clarity is essential for institutional adoption, as it defines the legal boundaries for yield-bearing stablecoins and their underlying collateral.
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Stablecoins
Revolut to Delist USDT for European Users as MiCA Rules Reshape Stablecoin Access
Revolut has announced the delisting of USDT for its European customers to ensure compliance with the European Union’s Markets in Crypto-Assets (MiCA) regulation. Users were permitted to purchase USDT until July 6, with a final deadline of August 31 to trade or transfer holdings to external wallets. Any remaining balances after this date will be automatically converted into the user's home currency. This move by the $75 billion valuation fintech firm, which serves over 75 million customers, highlights the growing regulatory pressure on stablecoin issuers that fail to meet MiCA's strict licensing and reserve requirements. Tether, the issuer of USDT, has struggled to align its operational model with these new EU standards, leading to restricted access across various regional platforms. Simultaneously, Tether’s recent suspension of 131 TRON wallets following OFAC sanctions underscores the broader trend of increased oversight in the digital asset space. These developments signal a significant shift in the RWA market, where regulatory compliance is becoming the primary determinant for stablecoin accessibility and institutional adoption. As major financial service providers prioritize legal certainty, the landscape for non-compliant assets in the EU is rapidly narrowing.
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Stablecoins
Token Terminal Shares Insights on Tokenized Funds — What It Means for the Market
Token Terminal reports that yield-bearing assets now constitute approximately 10% of the total stablecoin market, signaling a fundamental shift in investor behavior. This transition marks a move away from purely transactional stablecoins toward assets that prioritize consistent income generation. By integrating yield-bearing mechanisms, tokenized funds are increasingly capturing market share and influencing broader investment strategies within the decentralized finance ecosystem. This trend suggests that market participants are actively seeking sustainable returns, which is likely to intensify competition among fund issuers. As issuers vie for capital, the sector is expected to see accelerated innovation and improved operational efficiency in product offerings. The growing prominence of these assets highlights a maturing market where financial utility is becoming as critical as liquidity. Monitoring this segment is essential for understanding future market dynamics and the potential for new income-generating opportunities in the RWA space.
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Stablecoins
EURC On-Chain Activity Hits All-Time High as MiCA Drives Euro Stablecoin Demand
Circle’s EURC stablecoin recently achieved its highest level of on-chain activity in its four-year history, marked by record-breaking daily active addresses and new wallet creation. This surge is primarily driven by the implementation of the European Union’s Markets in Crypto-Assets (MiCA) regulation, which mandates strict compliance for stablecoin issuers. European exchanges, payment providers, and applications are increasingly adopting EURC as a compliant alternative to non-regulated assets. Circle has supported this transition by expanding cross-chain infrastructure and introducing USDC/EURC trading pairs on the Cronos blockchain. This shift highlights a broader trend where regulatory frameworks act as a catalyst for institutional adoption and liquidity in the RWA sector. With tokenized assets now exceeding $20 billion on-chain, regulated stablecoins like EURC are becoming the essential settlement backbone for European financial activity. The sustained growth in wallet addresses suggests that this demand is a structural change rather than a temporary spike, positioning the euro as a more prominent currency in the global on-chain economy.