Stablecoin issuers, reserves, bank settlement, payments and regulation, with reporting on USDT, USDC and other digital currencies.
Circle has partnered with Deutsche Börse to integrate its EURC and USDC stablecoins into Europe’s financial market infrastructure. The move leverages MiCA rules but comes as regulators debate a potential ban on multi-issued stablecoins. The collaboration could reshape settlement and custody workflows across European markets.
Adrienne Harris is stepping down as NYDFS superintendent after four years, with Kaitlin Asrow named acting head effective Oct. 18. Harris’ tenure was marked by major influence on US crypto and stablecoin policy, as well as efforts to strengthen transatlantic regulatory cooperation.
Polkadot is considering a community-backed proposal to launch pUSD, an algorithmic stablecoin fully backed by DOT tokens. The plan has early majority support but revives debate around the risks of algorithmic designs, especially after Terra’s collapse.
Stablecoins posted $45.6 billion in inflows in Q3 2025, a 324% jump from Q2, led by USDT, USDC, and Ethena’s USDe. Ethereum continues to dominate stablecoin issuance, while other usage metrics like active addresses and transfer volumes showed declines despite record growth.
Eric Trump says stablecoins could “save the US dollar,” pointing to his family’s USD1 token under World Liberty Financial. While supporters argue stablecoins may strengthen the dollar’s global reach, critics warn of conflicts of interest and financial stability risks tied to the Trump family’s direct involvement.
Bitfinex-backed blockchain Stable has secured support from PayPal Ventures to integrate the PYUSD stablecoin onto its network. The move could expand PYUSD’s adoption in emerging markets while boosting Stable’s role as a settlement-focused blockchain “designed for USDT.”
A UK government petition calling for a pro-innovation blockchain and stablecoin strategy has gained traction after Coinbase urged its users to sign. The petition seeks stablecoin regulation, blockchain adoption in government, and a dedicated crypto policy leader. It has passed 5,000 signatures and needs 10,000 for an official response, with 100,000 triggering a parliamentary debate.
HSBC and ICBC are preparing to apply for stablecoin licenses under Hong Kong’s new regulatory regime, which took effect on Aug. 1. Reports suggest ICBC and Standard Chartered are likely to receive first-round approvals, giving them a head start. The licensing framework sets strict requirements for issuers, making unlicensed stablecoins illegal for retail investors. Regulators have also warned that speculation around the rollout increases the risk of fraud, urging investors to remain cautious.
StablecoinX has expanded its financing for Ethena’s ENA treasury to $890 million, bolstering liquidity and strengthening support for the growth of the Ethena ecosystem. The move positions StablecoinX as a key player in backing Ethena’s stablecoin strategy and long-term sustainability.
Chainalysis data shows Bitcoin dominates crypto adoption, pulling in over $4.6T in fiat inflows, with the U.S. leading at $4.2T. Layer-1 tokens followed with $4T, stablecoins just under $1T, and memecoins around $250B. Bitcoin’s share was especially strong in the UK and EU, where nearly half of fiat purchases went into BTC.
Ethereum co-founder Joseph Lubin predicts that Ether will eventually surpass Bitcoin as the global “monetary base,” fueled by Wall Street’s adoption of staking, DeFi, and tokenization. He calls ETH the “highest octane decentralized trust commodity,” arguing its potential is far greater than most forecasts. Institutional clients are already allocating treasury assets to ETH, while stablecoin supply on Ethereum has surged past $160 billion, doubling since January 2024. Though Bitcoin still dominates as a store of value, Ethereum’s programmability and rapid ecosystem growth could accelerate the long-awaited “flippening.”