🧵 Stable School News: Weekly Roundup (Aug 1)
New laws. Giants on the horizon. Billions in fresh capital.
Stablecoins are pushing into payments, banks, and global finance, powered by moves from @Visa, @circle, Korea, and Hong Kong.
Here’s what happened this week 👇
TL;DR:
– @Visa and @FISGlobal push stablecoins into payments
– @circle integrates $USDC with TradFi rails
– Trump’s task force urges faster rule clarity
– Korea pivots, banks prep local stablecoins
– @RD_Technologies raises $40M ahead of HK licensing
1/ Visa expands its stablecoin settlement network.
Now supporting $PYUSD, $USDG, and $EURC, plus @StellarOrg and @avax alongside @Ethereum and @Solana.
@Visa’s goal: multi-chain, multi-coin settlement that works globally, just like card payments.
2/ @circle teams up with @FISGlobal to bring $USDC to mainstream payments.
USDC will run through FIS’s Money Movement Hub - used for ACH, wires, and FedNow.
GENIUS Act compliance + TradFi rails = real momentum for digital dollars.
3/ Trump’s crypto task force wants faster action.
Led by @davidsacks47, the group is urging regulators to clarify trading, custody, and tax rules to speed up adoption.
Two more crypto bills now head to the Senate.
4/ Korea steps up on stablecoins.
The central bank drops “research” from its CBDC lab and forms a stablecoin group. Seven banks plan to launch tokens after pausing a Bank of Korea-led project.
Two competing stablecoin bills now in play.
5/ Hong Kong’s @RD_Technologies raises $40M ahead of stablecoin licensing.
Backed by HongShan, @HivemindCap, ZA Global, and others, RD will apply as new Hong Kong Monetary Authority rules take effect Aug 1.
The stablecoin race in Asia is heating up.
Stay tuned with @Scroll_ZKP and @stable_summit for what happens next.
36.35K
30
The content on this page is provided by third parties. Unless otherwise stated, OKX is not the author of the cited article(s) and does not claim any copyright in the materials. The content is provided for informational purposes only and does not represent the views of OKX. It is not intended to be an endorsement of any kind and should not be considered investment advice or a solicitation to buy or sell digital assets. To the extent generative AI is utilized to provide summaries or other information, such AI generated content may be inaccurate or inconsistent. Please read the linked article for more details and information. OKX is not responsible for content hosted on third party sites. Digital asset holdings, including stablecoins and NFTs, involve a high degree of risk and can fluctuate greatly. You should carefully consider whether trading or holding digital assets is suitable for you in light of your financial condition.