stable

Zelle operator Early Warning Services announced that India will be the first country for U.S. users to remit money to overseas friends and family through Zelle, with the service expected to launch by the end of this year. The company also introduced its own dollar-backed stablecoin ZelleUSD (ZLUSD) to support future international payment capabilities in other markets, with more details to be announced in the coming months. Early Warning Services is jointly owned by seven U.S. financial institutions, including Bank of America, JPMorgan Chase, and Wells Fargo.

According to on-chain analysts, a certain whale withdrew 45.495 million USDT from Binance three and a half hours ago, then staked it into Aave and borrowed 10,000 ETH to short sell, worth approximately 17.25 million dollars. Currently, this whale has staked a total of 156 million dollars in stablecoins, borrowed 35,388.4 ETH, with an average selling price of 1,682.14 dollars, and is currently facing an unrealized loss of 1.098 million dollars. Liquidation will be triggered when the ETH price rises to 3,453.36 dollars.

According to a report by TheStreet Roundtable, Coinbase's Head of Institutional Sales, John D'Agostino, stated in an interview at the New York Stock Exchange that Coinbase is committed to migrating the existing financial infrastructure from the outdated ledger system of decades ago to a faster, cheaper, and more stable blockchain ledger, with the goal of becoming a fully functional integrated financial platform in the crypto space.D'Agostino pointed out that Coinbase's current growth mainly comes from four directions: first, derivatives; the company acquired the world's largest crypto options exchange, Deribit, for $2.9 billion last year, becoming a market leader in this field; second, tokenized securities; approximately 20 stocks have been tokenized and are continuously expanding, with assets like REITs included in the tokenization scope, claiming the market size is about $15 trillion; third, DeFi; Coinbase has become the official USDC treasury deployer for the Hyperliquid platform, with about $5 billion USDC in revenue used for repurchasing HYPE tokens on the platform; fourth, stablecoins; continuously deepening the coverage of USDC in the on-chain market.He summarized Coinbase's positioning as, "The safest custody for crypto assets is our foundational moat, while hyper-fast growth comes from tokenizing everything and creating universal applications."

According to monitoring by Blockaid, the algorithmic stablecoin MIM has experienced a de-pegging situation on Arbitrum. The current trading price of MIM in the executable path is approximately $0.91 to $0.92, which is due to insufficient or imbalanced liquidity in the Arbitrum liquidity pool.According to on-chain data, the current quotes for MIM across multiple chains are approximately $0.871---$0.874, with a 24-hour decline of about 11%.

According to Solid Intel, the payment of approximately $12 billion in frozen assets from Iran may be completed using the Trump-related stablecoin USD1 (the World Liberty Financial stablecoin launched by World Liberty Financial). Sources say that the relevant transaction is expected to be approved through the democratic voting process of the World Liberty Financial forum, and all payments will be settled in USD1.

CryptoQuant analyst Axel Adler stated that Bitcoin (BTC) is experiencing a significant inflow into exchanges, while stablecoin liquidity continues to flow out. The deterioration on both the supply and demand sides of the market is considered a key reason for Bitcoin's approximately 22% decline from its May peak.Data shows that the 30-day net exchange flow indicator for Bitcoin has turned significantly positive, currently at about +114,000 BTC. Compared to the net outflow status of about -85,000 to -115,000 BTC in early May, the market has shifted from an accumulation phase to a distribution phase. This indicator briefly rose to about +167,000 BTC in early June, indicating that more holders are transferring BTC to exchanges, increasing potential selling pressure.Meanwhile, the 30-day moving average net flow of stablecoins remains in negative territory, currently at about -105 million USD. In early May, this indicator was still in the range of +40 million to +90 million USD, representing strong buying liquidity in the market; however, it turned negative after mid-May and expanded to about -150 million to -170 million USD in early June, indicating that stablecoin funds are leaving exchanges, reducing the market's "ammunition."

Thomas Eichenberger, Chief Strategy Officer of Swiss digital asset bank Sygnum, stated on Thursday that institutional clients are no longer waiting for a single stablecoin to prevail, but are instead demanding the integration of tokenized deposits, regulated stablecoins, and tokenized money market funds within the same infrastructure to achieve interoperability, allowing treasury departments to flexibly switch between permitted settlement, 24/7 cross-border flows, and on-demand liquidity yields.Sygnum has already launched a Swiss franc stablecoin testing project this year in collaboration with Swiss banking institutions such as UBS, PostFinance, Raiffeisen, and Zürcher Kantonalbank. At the infrastructure level, Eichenberger pointed out that most institutional discussions still default to using private chains, but actual operators are leaning towards a "public but permissioned" model, which combines public infrastructure with regulated access control.In addition, the Qivalis alliance, composed of 37 major banks from the European Union, plans to launch a digital euro by the end of this year, with the banking industry's autonomous push directly challenging European Central Bank President Lagarde's stance on central bank-led digital currencies.

Coinbase CEO Brian Armstrong disclosed three platform-level data points on Thursday: the annual stablecoin transaction volume is nearly $1 trillion, the platform holds approximately $20 billion in USDC, and the x402 payment protocol processed over 160 million autonomous transactions in the past year. According to SEC filings, Coinbase's average USDC holdings in the first quarter reached a historic high of $19 billion, with over 25% of the total USDC circulation located within the Coinbase ecosystem.The total circulation of USDC currently stands at $75 billion. The $1 trillion stablecoin transaction volume refers to transfers made through Coinbase's payment infrastructure, in comparison, Visa is expected to process about $14.5 trillion in fiscal year 2025. The x402 protocol is named after the HTTP 402 error code and allows AI agents to make on-chain payments in USDC directly within network requests, with transactions over $1 accounting for 95% of x402 transfer volume.The Base chain has processed $190 trillion in stablecoin transaction volume this year, with over 90% of x402 transaction volume operating on Base. Founding members of the x402 foundation include Google, Stripe, Visa, Mastercard, and AWS.

Ethena's official announcement states that the first product launched in collaboration with Coinbase is now officially online, which is the stablecoin yield pool introduced by SteakhouseFi. This product operates based on USDe on Morpho and is now directly available in the Coinbase App, accessible to users in the United States and overseas.

Uniswap posted on platform X that the asset management company Fidelity Investments has chosen Uniswap as the liquidity infrastructure for its stablecoin FIDD, and the FIDD liquidity pool has been launched on the Uniswap protocol.Previously, in February, it was reported that Fidelity's stablecoin FIDD was officially launched, open to retail and institutional investors.

According to Decrypt, the IMF stated in its latest annual assessment of Nepal that despite Nepal's comprehensive ban on cryptocurrency trading and mining since 2021, the inflow of cryptocurrencies and stablecoins grew rapidly between 2019 and 2024, exceeding 13% of GDP at one point in 2021 and rebounding to about 8% in 2024, with cross-border flows accounting for about 5% of GDP.The IMF recommended that Nepal establish a cryptocurrency regulatory framework in accordance with international standards, strengthen monitoring of stablecoins and unpegged crypto assets to prevent circumvention of capital controls and large-scale deposit outflows, and urged it to complete the FATF action plan and exit the gray list.

Binance Wallet and United Stables ($U) jointly launched the World Cup U trading competition. During the event, users can trade "World Cup" category events using $U on Binance's eMeme platform, with the chance to share a total reward of 100,000 U. The eMeme platform is supported by 42.The first phase of this event runs from June 10, 2026, to June 20, 2026, and rewards will be ranked based on the cumulative trading volume of users using $U. The champion can receive a reward of 10,000 U, and the top 100 users will receive rewards. As the native stablecoin U of BNB Chain, which grew to a market value of 1 billion dollars within three months, this collaboration further expands the application of $U in on-chain trading scenarios, providing users with more opportunities to use and participate.

The global stablecoin payment infrastructure platform WasabiCard has been featured in a special report by Forbes, which discusses the challenges faced by stablecoin payments in becoming mainstream applications and includes an interview with WasabiCard co-founder and CEO Ray Yang. The report points out that as stablecoin applications gradually extend from crypto trading to real business scenarios such as corporate payments and cross-border settlements, the underlying payment infrastructure is becoming a key driver of industry development.In the interview, Ray Yang stated: "At this stage, the development of stablecoin payments still faces dual challenges in technology and regulation. From a technical perspective, the core issue is no longer the transfer of funds itself; rather, the key lies in licensing qualifications, compliance systems, risk management capabilities, and banking network capabilities."Ray Yang further pointed out that the key to achieving large-scale commercialization of stablecoin payments does not lie in the payment capability itself, but in whether a global infrastructure can be built to connect digital assets with the traditional financial system. As a global stablecoin payment infrastructure platform, WasabiCard continues to focus on the global payment network, compliance systems, and enterprise-level payment capabilities, committed to promoting the widespread application of stablecoins in real business scenarios.This special report by Forbes reflects the ongoing attention of international mainstream financial media to the development trends of stablecoin payment infrastructure and indirectly highlights the growing importance of compliance and the value of building scalable global payment networks in the market.

According to Jinshi reports, the Secretary for Financial Services and the Treasury of the Hong Kong Special Administrative Region, Xu Zhengyu, stated that two licensed stablecoin issuers participated in the central bank digital currency and tokenized deposit-related projects led by the Monetary Authority. The Monetary Authority will continue to follow up, urging institutions to implement relevant application scenarios and explore more applications of compliant stablecoins in the digital finance sector.In addition, the Monetary Authority has established the Ensemble project framework working group to promote the construction of local unified standards and achieve interoperability between central bank digital currency and tokenized assets.

On June 9, the New York State Department of Financial Services (DFS) announced a proposed regulation aimed at adjusting its dollar stablecoin issuance framework in accordance with the federal GENIUS Act. The new rules retain the original requirements of the DFS for dollar stablecoins, including reserves and redeemability, qualified reserve assets, independent audits, etc., and add new federal provisions, including: setting a maximum limit on reserve assets held by a single custodian; requiring entities to establish a risk management plan covering internal controls and information security; establishing an internal audit system; managing asset growth and income; regulating transactions with insiders and related parties; and regulating service provider arrangements.The proposed rules enter a 10-day pre-proposal comment period starting today, followed by a 60-day comment period after publication in the state register. The final rules will take effect simultaneously with the GENIUS Act, and existing licensed issuers in New York will enjoy a one-year transition period. Until then, the DFS's stablecoin regulatory guidance remains in effect.

Gate released the Private Wealth Management Report for May 2026. The crypto market continued its adjustment trend in May, influenced by rising geopolitical uncertainties and declining risk appetite. BTC fell approximately 2.9% during the month, while ETH dropped over 11%, with overall performance weaker than traditional risk assets during the same period. Against the backdrop of increased market volatility, Gate's private wealth quantitative strategies demonstrated strong resilience. Data shows that the net value of quantitative funds overall rebounded in May, with 90% of strategies recording positive returns. Among them, the "Interstellar Hedge (USDT)" cumulative return rate increased to 18.6%, with all 23 cycles within the statistical range achieving profitability, maintaining a win rate of 100%. Meanwhile, the drawdown levels of the USDT and BTC strategies continued to remain low, with overall risk control performance better than the market benchmark.At the same time, AI-related investments continued to be an important driver of growth. On the macro level, inflation remains a key variable affecting market expectations, with the market generally expecting the June FOMC meeting to maintain the current interest rate level. On the other hand, as the supporting details of the GENIUS Act gradually take effect, the regulatory framework for stablecoins is transitioning from policy framework to actual implementation, bringing more certainty to the digital asset industry.

According to the latest weekly report from Gate Ventures, the market has shown a significant cooling of risk appetite under the influence of strong economic data and ongoing inflationary pressures, with global growth assets generally under pressure.The cryptocurrency market has also pulled back, with BTC down 14.4% for the week and ETH down 15.7%. The total market capitalization of cryptocurrencies has decreased by 12.5%, and market sentiment has dropped to the "extreme fear" range. In terms of capital flow, the spot BTC ETF saw a net outflow of $1.72 billion in a single week, setting a record for the largest weekly outflow in history; the spot ETH ETF experienced a net outflow of $168.2 million during the same period, indicating that institutional funds are becoming more cautious in the short term.In terms of industry development, Mastercard announced the expansion of stablecoin settlement applications in its global payment network, supporting various compliant stablecoins for round-the-clock settlements in payment scenarios, further promoting the integration of stablecoins into mainstream financial infrastructure.In terms of investment and financing, three financing transactions were disclosed last week, with the infrastructure sector continuing to dominate. Among them, the digital asset derivatives infrastructure project SignalPlus completed a $50 million financing, demonstrating that market funds are still focused on underlying infrastructure and long-term application scenario development.Overall, the market is temporarily disturbed by macro factors, but stablecoin payments and infrastructure development remain important directions for industry growth.

According to Nikkei News, Japan's three major banks plan to jointly issue a stablecoin pegged to fiat currency within the fiscal year 2026, and have established a consultation mechanism to promote the application and operational design in real transaction scenarios. Sumitomo Mitsui Banking Corporation, Mizuho Bank, and Mitsubishi UFJ Bank are expected to soon sign a basic agreement. Since November 2025, the three banks have been conducting joint empirical experiments under the guidance of the Financial Services Agency (FSA) in Japan to prepare for the joint issuance of the stablecoin. In the future, this consultation committee will continue to promote the practical application and commercialization design of the stablecoin in conjunction with relevant laws and regulations and market development trends.

According to Jinshi reports, the President of the Hong Kong Monetary Authority, Yu Weimen, stated in a media interview that Anchor Technology is expected to launch a stablecoin by mid-year and will begin trial use in a few weeks.HSBC is expected to launch a stablecoin in the third to fourth quarter of this year, with different application scenarios; Anchor Technology focuses on cross-border payments, while HSBC emphasizes retail payment scenarios. Yu Weimen emphasized that Hong Kong will continue to attract global capital inflows.

The institutional-level digital asset custody platform Zodia Custody announced that it has obtained a payment institution license issued by the Luxembourg financial regulator CSSF (Commission de Surveillance du Secteur Financier), allowing it to compliantly provide electronic money token (EMT, i.e., stablecoin) custody and transfer services across the EU.Zodia Custody stated that this approval is a further expansion based on its already obtained MiCA license, which will enhance its digital asset service capabilities for institutional clients. The company believes that as the application of stablecoins in payment settlement, liquidity management, and corporate fund operations continues to grow, the ability to custody and transfer stablecoins will become a core configuration for digital asset infrastructure providers.Founded in 2020, Zodia Custody focuses on the institutional client market, with shareholders including Standard Chartered Bank, Northern Trust, SBI Holdings, Emirates NBD, and National Australia Bank. Following the approval of the Luxembourg license, Zodia Custody has obtained relevant regulatory licenses in multiple jurisdictions, including the UK, UAE, Hong Kong, Singapore, Australia, and the EU.