Stablecoin News and Analysis

Latest reporting on stablecoins, payments, regulation, tokenized assets and digital money. Leading story: For the first time since Congress taxed the state banknote out of existence in 1865, companies that are not banks issue dollars that people spend. There are $318 billion of them, fully reserved, forbidden by law to be lent, and cleared through the banks their issuers set out to leave.

The Return of Private Money — lead story artwork
The Return of Private Money — lead story artwork

Ripple's RLUSD Goes Live on Robinhood Chain and Bitstamp Under New Ripple Robinhood Partnership. Robinhood expects to add RLUSD to its main app later this year, will use the stablecoin on the XRP Ledger for institutional settlement at Bitstamp, and will integrate Ripple Treasury into its own treasury operations. ACI Worldwide and Circle Plan Colombian Pilot to Bring USDC Settlement Into Existing Bank Payment Systems. The collaboration runs through ACI Connetic, ACI's cloud payments orchestration platform, and starts in Colombia, where ACI built the central infrastructure behind the Bre B instant payments system. No participating banks, timeline or volumes were named. zerohash Makes Open USD (OUSD) Live for All Partners Across Its Products. OUSD, the stablecoin introduced by Open Standard, is now available through zerohash on Base, Ethereum, Solana and Tempo, with interoperability to more than 15 other stablecoins. zerohash did not say which partners have switched it on. French Authorities Urge EU to Regulate, Not Ban, Third Party Stablecoin Rewards While Keeping MiCA's Issuer Interest Ban. In a joint response to the European Commission's MiCA review, the French Treasury, AMF, Banque de France and ACPR also propose explicitly barring EU licensed providers from servicing non compliant stablecoins and a framework for multi issuance. The positions are proposals, not adopted rules. MAJORITY Launches USDC Transfers From the US to Latin America on zerohash Infrastructure. Eligible MAJORITY members in the US pay in dollars and family members in Latin America who are also MAJORITY members receive USDC in a self custodial Global Wallet. zerohash is the licensed provider for conversion and delivery. Ripple Treasury Adds 24/7 Returns on RLUSD and Other Qualifying Assets for Idle Corporate Cash. Unveiled at Swell 2026, the always on update adds an orchestration layer that works with Ripple Treasury's GSmart AI across cash positioning, forecasting, reconciliation, liquidity and payments. Eligibility, rates and program terms were not published. FCA Consults on Exclusions That Would Let Many UK Stablecoin Payment Activities Run Without Crypto Permissions. Draft perimeter guidance in CP26/36 explains new exclusions for UK qualifying stablecoins held temporarily for payments, and for dealing and arranging. Overseas stablecoins do not benefit. Comments close 18 November 2026, ahead of the regime's 25 October 2027 start. TerraPay Verify Joins J.P. Morgan's Kinexys Liink Network to Check Bank Account and Wallet Payees Before Cross Border Payments. Banks and non bank financial institutions on Liink can now use TerraPay's verification to validate bank account and mobile wallet details before sending. A LexisNexis study estimates 10% to 15% of international payments fail because of incorrect beneficiary details. Cross River Agrees to Acquire Accrue, Adding Branded Wallets, Stored Value and Rewards to Its Embedded Finance Stack. Cross River's parent, CRB Group, has agreed to buy Accrue, whose platform lets merchants combine stored value, payments and rewards in one branded wallet. Terms were not disclosed and the deal is subject to customary closing conditions. Canada Publishes Draft Stablecoin Regulations: Bank of Canada Registration, 1:1 Reserves and a Ban on Yield. The proposed rules under the Stablecoin Act would require par redemption within three business days, cap redemption fees at 1% and bar interest paid directly or through partners. Comments are open for 60 days, and the government intends the rules to take effect in fall 2027. Coinbase to Convert EEA Users' USDT and 13 Other Non MiCA Stablecoins on 30 October. Remaining retail balances will become USDC where suitable, or another supported asset, at the market rate. Customers who want to keep the tokens must withdraw them first. ESMA has told platforms to deal with non compliant stablecoin holdings within three months. Circle Gateway Adds EURC and cirBTC Unified Crosschain Balances, Waives Fees on Arc. EURC balances work across six chains and cirBTC across Arc and Ethereum, with Nanopayments support for both. Outside Arc, Gateway charges 1 basis point for the new assets versus 0.5 bp for USDC. MoneyGram Relaunches Its App and Website, Combining Transfers, Cash Pickup and Stablecoin Powered Dollar Balances. The refreshed MoneyGram Online experience is live across supported markets, with stablecoin infrastructure running behind the scenes and a dollar denominated balance in select markets. US senders can now pay MoneyGram app users directly in markets including Colombia and El Salvador. Circle Launches Circle Match, Hourly Auctions That Pay USDC Minters a Rebate From Redemption Fees. Eligible Circle Mint customers can now place prefunded mint and redeem orders that clear hourly at one uniform fee, capped at Circle's Express redemption rate. Matched minters currently receive the full fee as a rebate, and Circle says it keeps no separate spread on matched volume. Bank Negara Malaysia and Bank of Thailand Join MAS Led BLOOM Initiative on Cross Border Digital Money. The three central banks will work with industry on how tokenised deposits and regulated stablecoins are accepted, exchanged and settled across borders. Airwallex, Mastercard, Maybank, Monee, Nium, Ripple, ShopeePay, Visa and the World Bank Group have also joined. HSBC Launches RedCoin, Its First Hong Kong Dollar Stablecoin, for 3.3 Million PayMe Users. RedCoin (RCHKD) is issued under the HKMA stablecoin licence HSBC received in April, and PayMe users can activate a wallet in the coming days to pay friends and more than 100,000 merchants. HSBC plans to add the token to its Hong Kong banking app and use it for tokenised fund subscriptions later this year. Klarna Launches Consumer FX, Letting Shoppers Pay Foreign Merchants in Their Own Currency With No Exchange Fee. The feature is live across Klarna's markets and currencies, so any Klarna connected merchant can sell to its 120 million consumers in …

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