Editor - Jackie
🌍 Macro: New Year, New Predictions for the stablecoin landscape
VC forecasts: Payments infrastructure takes center stage in 2026 crypto outlook
- Dragonfly managing partner Haseeb Qureshi said his strongest conviction for 2026 is payments infrastructure, with stablecoin supply expected to expand sharply.
- Qureshi expects real-world usage and durable distribution to dominate, especially in payments and settlement rails. Specifically, Ethereum and Solana were highlighted as potential outperformers.
- This view of institutions deploying stablecoins at scale is echoed by Galaxy Ventures.
Industry leaders speak up: Privacy infrastructure moves from experimentation to production
- Industry leaders predict private stablecoins will emerge as a core onchain payments layer with configurable privacy and policy controls.
- Experts also forecast the industrialization of privacy tech, moving from testnets to production deployments.
- Threat-resistant, conditional privacy models are expected to become default as stablecoin payments scale.
Crypto ETFs head into 2026 with regulatory momentum
- U.S. spot bitcoin ETFs recorded about $22 billion in net inflows in 2025 despite late-year outflows.
- Ether ETFs attracted $9.3 billion in mid-2025 as regulatory clarity around stablecoins improved.
- At least 126 new crypto ETP filings are pending, with SEC approval timelines shortened to as little as 75 days.
🔍 Policies: SEC rulemaking rises in importance, South Korea officials stall over framework, and Coinbase warns stablecoin ban interest aiding China
Crypto industry shifts focus to SEC action as legislation slows
- Industry leaders said passage of a comprehensive market structure bill may slip past 2026, increasing reliance on SEC rulemaking.
- Regulators are signaling a deregulatory posture, with the SEC indicating many tokens may not be securities.
- Notably, stablecoin rules are advancing faster than broader market structure legislation.
South Korea’s stablecoin framework stalls over issuer control
- Draft rules would require stablecoin reserves to be held entirely in bank deposits or government bonds with full custodial control.
- The Bank of Korea wants banks to hold at least 51% ownership in stablecoin issuers, while regulators warn this could limit competition.
- The deadlock could delay full implementation of the law until at least 2026.
Coinbase warns stablecoin interest ban could aid China
- Coinbase warned that banning yield on U.S. stablecoins could give China a strategic edge as it allows interest on the digital yuan.
- China’s central bank will permit banks to pay interest on e-CNY starting January 2026.
- The GENIUS Act currently bars interest-bearing dollar stablecoins, with enforcement details still under debate.
🔥 Biz Beats: BlackRock’s BUIDL proves institutional demand for onchain cash yield
- BlackRock’s BUIDL distributed roughly $100 million in dividends and surpassed $2 billion in assets since launching in 2024.
- The tokenized money-market product is used as collateral and backs stablecoins such as Ethena’s USDtb.
- BUIDL provides regulated, onchain dollar yield for institutional investors, distinct from payment-focused stablecoins.
👋 That’s your stablecoin scoop for the week!
Until next time — AllScale Weekly
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