stablecoin

According to CoinDesk, the Qivalis group, composed of 12 EU banks, is in deep discussions with cryptocurrency exchanges, market makers, and liquidity providers to ensure that the euro stablecoin it is developing will have sufficient liquidity on regulated platforms when it launches in the second half of the year.The group includes banks such as ING, UniCredit, BNP Paribas, CaixaBank, and BBVA, aiming to provide a European alternative to the dollar-dominated stablecoin market and enhance the EU's strategic autonomy in the payments sector.Qivalis CEO Jan Sell stated that the stablecoin will adopt a 1:1 reserve mechanism, with at least 40% in bank deposits, while the remainder will be allocated to high-quality, short-term eurozone sovereign bonds. The reserves will be held in multiple high-rated credit institutions and will support holders' ability to redeem at any time.

The Japanese yen stablecoin issuer JPYC has signed a strategic cooperation memorandum of understanding with Sony Bank and its Web3 subsidiary BlockBloom. The two parties plan to provide real-time bank account transfer functionality on the "JPYC EX" platform, allowing users to purchase JPYC directly from their Sony Bank accounts without manual remittance.In addition, both parties will explore collaborations with entertainment IPs such as music and gaming, applying JPYC to digital content purchases and fan rewards.

According to Jinshi reports, Japan's top foreign exchange official, Jun Mimura, stated that the surge of dollar-denominated stablecoins is highly likely to reinforce the dollar's status as a key currency.

According to Cointelegraph citing Artemis data, Tron had a net increase of 1.6 billion dollars in stablecoin supply in February, ranking first, while Ethereum experienced the largest decrease in stablecoin supply.

According to Hong Kong media Hong Kong 01, Hong Kong Executive Council member and former president of the Hong Kong Monetary Authority, Joseph Yam, stated that the evolution of geopolitical dynamics has increased the importance of the Hong Kong dollar's peg to the US dollar, and bluntly remarked that "the Hong Kong dollar is actually the largest stablecoin of the US dollar."Joseph Yam pointed out that by 2025, Hong Kong is expected to hold approximately $256 billion in US Treasury bonds, a scale larger than any so-called US dollar stablecoin currently. Therefore, Hong Kong's financial direction is very clear: to maintain the linked exchange rate system. Hong Kong is the most active US dollar market in Asia, and it would not be wise to force a major buyer to sell if the Hong Kong dollar is no longer pegged to the US dollar.

According to the latest statistics from RootData, the investment and financing heat in the cryptocurrency market has cooled down in February 2026, with a total of 63 financing events recorded throughout the month, amounting to $864 million, a month-on-month decrease of 19.3%. Despite the overall decline, the trend of capital concentrating on leading projects has become increasingly evident: this month, there were 16 large financing events exceeding $10 million, with stablecoin ecosystems, institutional-grade tools, and compliance platforms becoming the core revenue-generating tracks.This month, stablecoin giant Tether was extremely active, strategically investing $150 million in Gold.com and $100 million in Anchorage on February 5, demonstrating its deep layout in the infrastructure and physical asset sectors.At the same time, BTC Inc was acquired by Nakamoto for $107 million, and Korbit received a $93.82 million acquisition increase from Mirae Asset. This marks a new round of consolidation in the industry, with traditional financial giants (such as Mirae Asset) accelerating the acquisition of compliant trading platforms.In addition, the activity in the Japanese market surged, with Penguin Securities raising ¥2.8 billion and JPYC securing ¥1.78 billion in financing, showcasing the strength of the yen ecosystem in the fields of compliant stablecoins and securitization.

The current supply of stablecoins on the Polygon network has reached approximately $3.28 billion, setting a new historical high.

Coinbase Chief Policy Officer Faryar Shirzad posted on the X platform in response to "the White House's agreement goals may fall short." He stated that Coinbase and the company's CEO Brian Armstrong have been involved in negotiations for months and have committed to several potential compromise solutions. Coinbase's core goal has always been to protect the interests of the GENIUS Act and the general American public. He also thanked Patrick Witt, Executive Director of the President's Digital Asset Advisory Council, for his efforts in pushing for problem resolution and looks forward to the smooth implementation of the President's crypto agenda.According to senior journalist Sander Lutz from crypto media Decrypt, the White House originally hoped to reach an agreement on stablecoin yield issues before the weekend, but a banking industry insider directly involved in the negotiations stated that this goal would not be achieved. The current divide between the crypto industry and banking lobbyists regarding whether stablecoins should generate yield remains significant. This controversy has become a major obstacle to advancing the crypto market structure bill and directly points to Coinbase CEO's insistence that stablecoins should be able to generate yield for users.According to previous reports from ChainCatcher, David Sacks, the White House's crypto and AI director, stated that the crypto industry has made significant concessions regarding stablecoin yields, and banks should respond accordingly.

According to the annual report from the Argentine cryptocurrency exchange Lemon, the growth rate of monthly active users in Latin America in 2025 is three times that of the United States, with the total regional digital asset inflow exceeding $730 billion for the year, a year-on-year increase of over 60%, accounting for 10% of the global total.There is a clear differentiation within the region: Brazil leads in capital scale with an inflow of over $318.8 billion, with an annual growth rate of nearly 250%, primarily driven by institutional trading and the integration of local payment systems; Argentina, on the other hand, ranks first in terms of per capita monthly active user ratio, with a penetration rate of 12% of the total population, accounting for over a quarter of the region's activity.The report points out that users in high-inflation economies such as Argentina and Venezuela tend to use crypto assets as a store of value, with USDT widely adopted in daily transactions in Venezuela; more stable markets like Peru and Colombia focus more on financial returns. Stablecoins are seen as the most critical factor driving regional adoption, continuing to grow rapidly in 2025.

White House Crypto and AI Director David Sacks stated, "White House Cryptocurrency Council Executive Director Patrick Witt has done an outstanding job mediating compromises between banks and the crypto industry. No one has worked harder than him to push for the passage of crypto market structure legislation.By the way, the crypto industry has made significant concessions on stablecoin yields, and now it's time for banks to respond accordingly."

White House AI and Crypto Affairs Director David Sacks stated on social media that Patrick Witt is advancing the compromise between the banking industry and the crypto sector, actively facilitating the implementation of market structure legislation.Sacks noted that the crypto industry has made significant concessions on the stablecoin yield issue and called for a corresponding response from the banking side.

Cryptocurrency journalist Eleanor Terrett stated that several individuals in the crypto industry publicly defended Patrick Witt and the White House's position after anonymous sources claimed a pessimistic outlook for stablecoin yield negotiations.A banking industry insider with direct knowledge of the negotiation progress mentioned that the banking representatives who attended last week's White House meeting (from ABABankers, ICBA, and the Bank Policy Institute) were confused by the statements and did not agree with the anonymous sources' views, and they have provided feedback to the White House regarding the situation.The insider also indicated that both parties are still in ongoing communication regarding the bill's text, and the March 1 deadline is not a decisive cutoff date.

According to market news, the Japanese yen stablecoin issuer JPYC has completed the first phase of its Series B financing, raising approximately 1.78 billion yen (about 12 million USD), led by Japanese IT solutions provider Asteria. Most of the funding comes from domestic Japanese companies and investment institutions, with BitFlyer Holdings also participating.JPYC was launched in October 2025 under Japan's regulatory framework for fund transfer businesses and is currently the only onshore yen stablecoin. It has partnered with Densan Systems, which provides payment infrastructure for about 65,000 convenience stores in Japan, to explore domestic payments, cross-border remittances, and travel payment applications in convenience store scenarios, and is involved in Circle's stablecoin foreign exchange quoting system StableFX for cross-border settlements.

MoonPay has launched the PYUSDx framework, allowing developers to issue branded, application-specific stablecoins backed by PayPal USD (PYUSD).This solution combines the stablecoin infrastructure protocol of M0 with MoonPay's issuance and distribution capabilities, separating reserve management from token issuance, thereby accelerating the stablecoin launch process. Under this architecture, PYUSD, issued by Paxos Trust, serves as the underlying reserve asset, while branded stablecoins are issued by MoonPay Digital Assets. The latter has recently obtained a trust license in New York, enabling it to act as a stablecoin issuer. Developers can launch customized stablecoins without the need to build their own underlying technology and operational systems.At the time of the product launch, the market is also concerned about its compliance with the regulatory framework of the U.S. GENIUS Act and the applicability of related tokens in different jurisdictions in the future.

According to CoinTelegraph, M0, MoonPay, and PayPal will launch PYUSDx, a product designed to help developers issue custom stablecoins backed by PayPal USD.PYUSDx combines M0's universal stablecoin and digital token platform with the infrastructure of the MoonPay group, simplifying the issuance of dollar-backed stablecoins by reducing technical and operational burdens.

According to Bloomberg, Barclays has sent requests for information to some potential technology suppliers to assess how to build a blockchain platform for processing banking operations such as payments, with possible applications including stablecoins and tokenized deposits, aiming to finalize vendor selection as early as April.The application of stablecoins in the payment sector is expanding, with Bloomberg Intelligence estimating that by 2030, the annual transaction volume of stablecoin payments could exceed $50 trillion. Previously, Meta has also been testing the integration of stablecoin payments into its applications.Several banks have begun to lay out blockchain systems, with JPMorgan having previously launched the deposit token JPM Coin for payments to institutional clients, and HSBC planning to expand its tokenized deposit services to corporate clients in the U.S. and UAE in the first half of this year.