Tag: Stablecoin

Jupiter teams up with Ethena to launch Solana stablecoin JupUSD

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Key Takeaways Ethena and Jupiter team up to launch JupUSD, a yield-bearing stablecoin, on Solana. Jupiter will progressively convert around $750 million in USDC from its Liquidity Provider Pool into JupUSD after launch in Q4 2025. Share this article Ethena, a protocol known for developing yield-bearing stablecoin mechanisms, has partnered with Jupiter, a Solana-based decentralized exchange aggregator, to launch JupUSD, a native stablecoin on Solana. The collaboration expands decentralized finance options on Solana, which has seen similar yield-bearing stablecoin products launch recently. Solstice Finance recently launched USX, a stablecoin designed…

Rezolve AI Acquires Smartpay, a $1B Stablecoin Payments Platform

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Smartpay, a fintech infrastructure company known for enabling stablecoin-based payments since 2019, has been acquired by Rezolve AI, a publicly listed commerce platform, in a deal that underscores the accelerating convergence between digital assets and AI-driven e-commerce. The acquisition was announced on Tuesday, though no financial terms were disclosed. Rezolve said the move will bolster its digital asset payment initiative in partnership with Tether, the issuer of the USDt (USDT) stablecoin.  According to the announcement, Smartpay processed more than 19 million commercial transactions over the 12 months ending Sept. 30,…

Streamex Stock Jumps on Gold-Backed Stablecoin Launch

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Streamex Corp. saw its stock surge over 20% on Monday after announcing a pre-sale for its upcoming gold-backed stablecoin, GLDY. The digital asset, designed to generate an annualized yield of up to 4.0%, will open for qualified investors on or before Nov. 10. The GLDY token offers exposure to physical gold bullion with yield paid in ounces of gold, targeting institutional investors, the company announced on Monday. The stablecoin is part of Streamex’s broader mission to tokenize real-world commodities through digital instruments. “The launch of GLDY represents a major evolution…

A7A5 under fire as EU weighs sanctions on ruble-pegged stablecoin

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The European Union is reportedly considering sanctions against A7A5, a Russian ruble-backed stablecoin that’s the world’s largest non-US-dollar pegged stablecoin. The sanctions would prohibit EU-based organizations and individuals from engaging directly or indirectly through third parties with the token, according to a report from Bloomberg on Monday, citing documents related to the proposal. Several banks in Russia, Belarus and Central Asia are in the firing line too, accused of enabling sanctioned entities to conduct crypto-related transactions, Bloomberg reports. It is the latest effort by the EU to hobble Russian-tied crypto…

A7A5 Becomes Top Non-Dollar Stablecoin Amid Sanctions

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A7A5, a Russian ruble-backed stablecoin issued in Kyrgyzstan, has become the world’s biggest non-US dollar stablecoin despite facing multiple sanctions. A7A5’s market capitalization stood at almost $500 million on Monday, about 43% of the total $1.2 billion market cap of non-US dollar stablecoins, according to data from CoinMarketCap and DefiLlama. “We have already proven that a national digital currency can be not only an alternative to the dollar but also a driver of global change,” A7A5 wrote on its Telegram channel on Saturday. The statement came as the project drew…

Stablecoin Yield Means Banks Must Now offer Customers Real Interest

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Stablecoins, tokenized versions of fiat currencies that move on blockchain rails, will eventually force banks and other financial institutions to offer customers yields on their deposits to remain competitive, according to Patrick Collison, CEO of payments company Stripe. The average interest rate for US savings accounts is 0.40%, and in the EU, the average rate on savings accounts is 0.25%, Collison said in response to VC Nic Carter’s X post outlining the rise of yield-bearing stablecoins and the future of the sector. Collison added: “Depositors are going to, and should,…

Crypto Funding Slows, but RWA, Stablecoin Startups Draw Capital

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Although digital assets continue to attract record interest from institutional investors, traditional banks and corporations, venture capital activity in the sector has slowed notably since the first quarter. Galaxy Research’s latest VC report showed that crypto and blockchain startups raised a total of $1.97 billion across 378 deals in the second quarter. That represents a 59% decline in funding and a 15% drop in deal count compared to the previous quarter. According to Galaxy, it was the second-lowest quarterly total since Q4 2020. Researchers observed that the long-term correlation between…

Stablecoin and CBDC Can Work Together: Kazakh National Bank

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Kazakhstan is moving forward with a dual-track approach to digital assets, piloting its central bank digital currency (CBDC) while also backing a state-linked stablecoin. In September, the National Bank of Kazakhstan launched the Evo stablecoin in collaboration with Solana and Mastercard, marking one of the first cases of state-backed stablecoin development worldwide. The central bank has also been progressing with its CBDC, digital tenge, which launched in 2023. “When discussing the Evo stablecoin and the digital tenge, we see not competition, but rather opportunities for integration and interoperability,” Berik Sholpankulov,…

Crypto.com brings Morpho lending to Cronos for stablecoin yields

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Crypto.com users will soon be able to lend wrapped crypto assets and earn yield on stablecoins through Morpho, a decentralized finance (DeFi) lending protocol. According to a Thursday statement, Morpho will launch stablecoin lending markets on the Cronos blockchain, with the first vaults expected this year. The integration will allow users to deposit wrapped Ether (ETH) or Bitcoin (BTC) into Morpho vaults and borrow stablecoins against them to earn yield. Wrapped assets are tokens that represent another cryptocurrency on a different blockchain. On Cronos, wrapped tokens such as CDCETH and CDCBTC…

Citi Raises Stablecoin Market Cap Forecast to $4T by 2030

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Citi, an international banking and financial services company, revised its stablecoin forecast due to the strong growth of the sector in the last six months, and now projects the stablecoin market cap will grow to $4 trillion by 2030. Analysts at Citi project a $1.9 trillion stablecoin market as their “base” case and up to $4 trillion as the “bull” case, up from previous projections of $1.6 trillion and $3.7 trillion, respectively, according to Thursday’s forecast. Analysts at Citi also said stablecoins would not disrupt the banking sector, contrary to…