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Major US banks are secretly working together on a crypto stablecoin project that could reshape the entire digital payments landscape. Right now, JPMorgan Chase, Bank of America, Citigroup, and Wells Fargo are exploring whether to team up and issue a joint stablecoin, marking a dramatic shift from their previously cautious stance toward cryptocurrency markets. Discussions on merging have been held in private via the Zelle system by Early Warning Services and The Clearing House’s real-time payment network. Work toward the agreement is still exploratory and its content may shift as time passes. Also Read: US Stocks, Bonds Sink as Debt Fears Caused by Trump Persist How US Banks Address Crypto Stablecoin Risks and Market Volatility Source: Linkedin / JP Morgan Regulatory Framework Creates New Opportunities It isn’t by chance that this banking project comes now and it links straight to recent changes in banking regulations. The GENIUS Act is moving forward in Congress, as the Senate has just...

Mastercard stablecoin cards are actually rolling out globally through a brand new partnership with MoonPay, enabling cryptocurrency payments across approximately 150 million merchants worldwide. This collaboration, announced just today, leverages MoonPay’s Iron infrastructure to automatically convert digital assets to fiat currency during transactions, which is addressing some of the key barriers to mainstream crypto adoption right now. Also Read: Top 3 Cryptocurrencies That Could Reach a $100 Billion Market Cap Stablecoin Cards Unlock Faster Crypto Payments for Merchants The payment giant’s latest MoonPay crypto payments initiative builds on several previous partnerships while also expanding usdc card launch options for consumers in various markets around the world. Global Rollout Strategy Source: Watcher Guru The new Mastercard stablecoin cards will utilize technology from Iron, a company that was actually acquired by MoonPay back in March 2025. This system is designed to ...

Coinbase, the largest crypto exchange in the US, has announced the possibility of listing a gold-pegged stablecoin. In a new post on the social media platform X, Coinbase says it’s added PAX Gold (PAXG) to its listing roadmap. A placement on Coinbase’s roadmap doesn’t guarantee a future listing, but it announces the potential for it to be listed in order to promote transparency and prevent possible insider trading. PAX Gold is an Ethereum (ETH)-based token backed by physical gold and issued by blockchain infrastructure platform Paxos. Says the project, “PAXG offers investors a cost-effective way to own investment-grade physical gold with all the benefits of the blockchain. Each Pax Gold (PAXG) token is backed by one fine troy ounce of gold, stored in LBMA (London Bullion Market Association) vaults in London. If you own PAXG, you own the underlying physical gold, held in custody by Paxos Trust Company… The allocated gold that backs PAXG i...

Payments giant PayPal is reportedly going to start offering customers yield on its proprietary stablecoin product. According to a new report by Bloomberg, PayPay is planning on offering rewards to users of their stablecoin PayPal USD (PYUSD) as a means of increasing its usage. The report says that the program is expected to launch sometime during the summer, though no specific date was mentioned, and would allow users of both PayPal and Venmo to earn 3.7% annually on PYUSD holdings in their crypto wallets. The rewards – which accrue on a daily basis and get paid out monthly – will be paid in PYUSD which customers can then either convert to fiat currency, use for payments, or send to other users. Jose Fernandez da Ponte, PayPal’s senior vice president and general manager of blockchain, crypto and digital currencies, told Bloomberg in an interview that the goal of the company is to incentivize use of stablecoins as a form of payment on its platform. “...

In a landmark development for the United States banking sector, Custodia Bank and Vantage Bank have announced the issuance of ‘Avit’, the country’s first public bank-issued stablecoin on a permissionless blockchain. This initiative signifies a major step towards integrating blockchain technology within traditional financial institutions, offering a compliant and regulated digital asset solution. Background on Custodia and Vantage Banks Custodia Bank, based in Wyoming, was founded to bridge digital assets and the U.S. dollar payments system while maintaining rigorous institutional custody standards. The bank has been at the forefront of advocating for regulatory clarity in digital banking. https://twitter.com/custodiabank/status/1904494567207891193 Vantage Bank, a community bank headquartered in Texas, provides various financial services and has demonstrated an openness to adopting innovative banking solutions. Its collaboration with Custodia Bank marks a s...

A crypto whale is booking millions of dollars in losses after making several Official Trump (TRUMP) trades. According to blockchain tracking platform Lookonchain, the whale’s losses have ballooned to nearly $16 million on his TRUMP memecoin trades this month. “This whale sold 743,947 TRUMP ($7.92 million) at $10.66 [Friday] – taking another $3.3 million loss on TRUMP! He only profited on his first TRUMP trade. The next three were all losses, bringing his total loss to $15.7 million.” Earlier this month, Lookonchain noticed that the same whale at first made nearly $12 million on his initial TRUMP trade, before suffering the large losses. “This whale made $11.82 million on his first TRUMP trade, lost $24.35 million on the second, and took another $201,000 loss on the third! Now, he’s back-spending $11.28 million to buy 777,684 TRUMP at $14.50. Will he turn a profit this time?” Other whales are also looking at losses on their rec...

World Liberty Financial, the cryptocurrency firm from which Donald Trump profits, has announced its plan to launch a stablecoin, USD1.  USD1 is described as a stablecoin pegged to the US dollar that “will be 100% backed by short-term US government treasuries, US dollar deposits, and other cash equivalents.” Apparently, the stablecoin will launch on Ethereum and Binance Smart Chain.  Custody for the coin will be managed by BitGo, the firm that collaborates with Justin Sun and BiT Global for Wrapped Bitcoin (WBTC) , a major component of the World Liberty Financial portfolio.  Interestingly, neither the governance forums nor the governance portal discussed or voted on the launch of USD1 and this change to World Liberty Financial. Actually, there has not been a single post of any kind in the governance forum since January 9.  Who is behind World Liberty Financial, Trump’s new crypto? Read more: Is World Liberty Financial a dead project? ...

Today, February 26, the United States Senate Committee on Banking, Housing, and Urban Affairs subcommittee on Digital Assets is hosting a hearing on “Exploring Bipartisan Legislative Frameworks for Digital Assets.” This hearing comes after Donald Trump made cryptocurrency a central focus of his second term, creating a working group in one executive order that was tasked with submitting a report that will “recommend regulatory and legislative proposals.” The Senate Digital Assets Legislation The chairman for this subcommittee is Cynthia Lummis (R-WY), who has been a significant promoter of crypto. She recently introduced a new stablecoin bill, the so-called GENIUS Act, alongside Tim Scott (R-SC), Bill Hagerty (R-TN), and Kirsten Gillibrand (D-NY).  This bill purports to establish jurisdiction over stablecoin issuers who “issue a payment stablecoin in the United States.” Payment stablecoins are described as “a digital asset...

The cryptocurrency market experiences changes and developments that shape investment choices every day. Since last month, the cryptocurrency market has been on a bullish run, even as several tokens experienced price fluctuations. The crypto market is observing a noteworthy increase in trading signals, leading investors to religiously search for the next promising token. However, spotting the next cryptocurrency to explode amidst this abundance requires a thorough understanding of the market dynamics. Today’s article identifies coins with some potential and informs investors and traders about each token. Next Cryptocurrency To Explode Today’s review highlights promising cryptocurrencies that investors should keep an eye on. Among these is a new project called Wall Street Pepe. Wall Street Pepe is a new variation of the beloved Pepe coin that aims to empower traders with exclusive market insights and tips. The token has taken the crypto scene by storm, raising over $20 mil...

Payments firm Ripple is announcing exchange partners for the launch of RLUSD, the company’s new dollar-pegged stablecoin. According to a new press release, Ripple Labs is collaborating with crypto platforms Uphold, Bitstamp, Bitso, MoonPay, Independent Reserve, CoinMENA, and Bullish to launch Ripple USD. Beta testing for RLUSD rolled out on the Ethereum (ETH) mainnet and the XRP Ledger (XRPL) two months ago. Ripple first announced plans for RLUSD in April 2024. In a court filing in May, the U.S. Securities and Exchange Commission (SEC) argued that the planned stablecoin represented an “unregistered crypto asset.” The SEC’s assertions have yet to be confirmed or denied in court. According to Ripple, the new stablecoin is designed decentralized finance (DeFi) and traditional finance uses. According to the announcement, RLUSD is backed by cash deposits, US government bonds and cash equivalents subject to monthly third-party auditing. RLUSD will be issue...

Maker, the organization that has been issuing so-called stablecoin DAI since December 2017, has decided to introduce the ability to remotely freeze some of its stablecoins. It is incentivizing users to convert DAI into a new stablecoin, USDS, which will grant Maker insiders the ability to remotely freeze coins. For years, the self-described decentralized autonomous organization (DAO) has described DAI as a “decentralized currency that is not influenced by any entity or factor.” Now, its team has replaced that description at the top of its homepage — still cached at search engines like Google — with the much briefer “A better, smarter currency.” USDS’ freeze function “is generally expected to follow rule of law from jurisdictions where Maker needs a high level of certainty that the legal system will enforce recourse against real-world asset collateral.” Maker insiders noted that although the intention is to activate the remote freeze function, the exact timeline for activ...

BSP approves pilot for PHPC, a Peso-backed stablecoin, in collaboration with Coins.ph. Sandbox testing to evaluate PHPC’s real-world performance and impact on local fiat ecosystem. Transition to real-world usage subject to final evaluations and approvals by central bank. The digital currencies landscape in the Philippines is set for a major shift after the country’s central bank, Bangko Sentral ng Pilipinas (BSP), granted approval for the commencement of a pilot program for a Philippine Peso-backed stable coin (PHPC). BHP’s move signals a progressive step towards exploring the potential of blockchain technology and stablecoins in the nation’s financial ecosystem. Sandbox testing to evaluate PHPC’s viability The pilot program, conducted within the framework of BSP’s Regulatory Sandbox, will see the collaboration between the central bank and crypto wallet provider Coins.ph. #ICYMI: #CoinsPH has been granted @bangkosentr...

CoinShares analysts anticipate the emergence of a Bitcoin-based stablecoin in 2024, which could potentially rival existing stablecoins in terms of transaction speed and cost efficiency. The development, highlighted in CoinShares’ latest outlook report released on Jan. 22, authored by the firm’s head of Bitcoin research, Christopher Bendiksen, and analyst Matthew Kimmel, suggests that 2024 will be a crucial year for Bitcoin in the stablecoin market. They predict the introduction of a Bitcoin project aimed at competing in the modern stablecoin sector, designed to be user-friendly and easily accessible.  Our ‘24 Outlook is out! What can you expect from #Bitcoin and the upcoming #halving? What could be next for altcoins? Is a change in regulatory stance on the way? Our researchers take you through their key highlights. Read the full outlook: https://t.co/EzPqowwUVj pic.twitter.com/KeVCnrlHyv — CoinShares (@CoinSharesCo) January 22, 2024 Bendiksen and Kimmel believe t...

Stablecoin issuer Paxos has received in-principle approvals from the Financial Services Regulatory Authority to issue stablecoins in Abu Dhabi. Paxos, a cryptocurrency brokerage firm and stablecoin issue r, has secured two in-principle approvals of the Financial Services Regulatory Authority in Abu Dhabi. According to a press release on Nov. 29, 2023, the greenlight from the regulator allows the firm to issue U.S. dollar and other currency-backed stablecoins . The New York-headquartered company can now also offer crypto-brokerage and custody services in the region. “Our in-principle approvals from the Financial Services Regulatory Authority, on the heels of our in-principle approval from the Monetary Authority of Singapore, solidify our commitment to pursuing international growth through regulated frameworks.” Paxos Head of Strategy, Walter Hessert You might also like: Paxos to issue USD stablecoin in Singapore The expansion in Abi Dhabi comes just a few ...

Research by Moody’s Analytics shows that despite their name, so-called stablecoins have depegged at least 609 separate times in 2023. A similar number of depegging events occurred in 2022 and for the past 22 months combined, the 25 largest stablecoins have depegged at least 1,316 times. Indeed, Protos has detailed at least 16 incidents of Tether (USDT) trading for drastically different prices than $1. The world’s largest stablecoin has traded for as low as $0.001, as high as $1,000, and various prices in between, for the past six years. The report by Moody’s expands its own, similar analysis to take in 25 stablecoins. From this set, its analysts found over 600 separate depegging events year-to-date and over 700 last year. Moody’s Analytics Digital Asset Monitor tracks all major stablecoin s, including PayPal Coin (PYUSD), USDT, and USDC. Its Digital Asset Monitor uses AI, off-blockchain data, and various exchange inputs to track volatility and risk in so-called decentralized financ...