Editor - Jackie

🔍 Policies: Fed spotlights stablecoins at payments summit, ECB warns MiCA loopholes

Fed to spotlight stablecoins at payments innovation conference

• The U.S. Federal Reserve will host a conference on payments innovation, with a focus on stablecoin models and tokenization.
• Fed minutes noted stablecoins could improve payment efficiency and boost Treasury demand, while the Fed ended programs discouraging bank involvement.
• Governor Christopher Waller said the goal is to weigh opportunities and risks in improving payment safety and efficiency.

ECB chief warns MiCA loopholes risk making EU weak link - Christine Lagarde cautioned that stablecoin issuers promise instant redemption while holding illiquid assets, creating liquidity risks.

‍🔥 Biz Beats: USDe at all time high, RLUSD expands to Africa with climate payouts, and USDAI TVL doubles to $110M

Ethena’s USDe supply reaches $12.4B amid record revenues

• Ethena’s USDe supply surged 42% in a month to $12.43 billion, marking an all-time high.
• August revenues hit $61 million, the highest monthly figure this year.
• Ethena has surpassed key milestones, including revenue over $250 million and integration on four of the top five centralized exchanges.

Ripple expands $700M RLUSD to Africa, pilots climate insurance

• Ripple launched RLUSD, its dollar-backed stablecoin, in Africa with partners Chipper Cash, VALR, and Yellow Card.
• RLUSD supply has grown to over $700 million on Ethereum and XRPL, supporting remittances, treasury use, and trading collateral.
• Mercy Corps is testing RLUSD in climate insurance, with payouts triggered automatically by satellite drought data.

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Hoskinson urges Chainlink, Aave, and USD1 to bolster Cardano DeFi - Charles Hoskinson called for the integration of Aave, Chainlink, and World Liberty Financial’s USD1 stablecoin into Cardano; he said USD1, the sixth-largest stablecoin, would bring liquidity and credibility to Cardano’s struggling DeFi ecosystem.

BPMG and Kbank sign MOU for stablecoin and AI initiatives - BPMG and Kbank agreed to focus on stablecoin use cases such as cross-border remittances through a digital asset payment system linking South Korea, Thailand, and the UAE using a won-backed stablecoin.

Falcon Finance publishes full USDf reserve breakdown - Falcon Finance disclosed USDf reserves of $1.29 billion, including $640 million in bitcoin and $375 million in stablecoins.

USDAI stablecoin protocol doubles TVL to $110M - USDAI, an over-collateralized synthetic dollar backed by GPU compute, crossed $110 million in total value locked.

DeFI lending and Stablecoin platform Venus Protocol moves to recover $13.5M hack - A phishing attack drained $13.5 million from a Venus Protocol user, prompting an emergency governance vote.

SpherePay adds Aptos for high-speed stablecoin transfers - SpherePay integrated Aptos, which offers ~400ms finality and ultra-low fees, enabling high-frequency stablecoin payments.

Mega Matrix files $2B shelf registration to build Ethena treasury - Mega Matrix filed a $2 billion shelf registration to create the first publicly traded corporate treasury focused on Ethena’s ENA governance token.

Maple’s syrupUSDC surpasses $1B amid Arbitrum expansion - SyrupUSDC crossed $1 billion in supply, a 59% increase since summer, with market cap rising from $970 million to $1.01 billion.

Tether considers gold mining investment after $5.7B profit - Tether already owns $8.7 billion of gold in Zurich and has invested over $200 million into mining ventures, CEO Paolo Ardoino said Tether views gold as a natural asset complement, while exploring mining would increase bullion exposure.

Bybit and AFSA introduce stablecoin payments for regulatory fees in Kazakhstan - Bybit partnered with the Astana Financial Services Authority to allow regulatory fees to be paid in USD-pegged stablecoins through a stabecoin wallet and QR Pay system for invoicing.

💡Rollouts: Fireblocks unveils stablecoin network, B² launches U2 stablecoin, and Stripe & Paradigm incubate Tempo

Stripe and Paradigm incubate Tempo blockchain for stablecoin settlement

• Stripe and Paradigm are incubating Tempo, a blockchain optimized for stablecoin payments.
• Tempo is in private testnet with partners including Visa, Deutsche Bank, Shopify, Revolut, Standard Chartered, and OpenAI.
• It is built to process over 100,000 transactions per second with sub-second finality, and allows gas and fees to be paid in any stablecoin via an enshrined AMM.

Avalon Labs brings stablecoin lending to Bitcoin via Rootstock

• Avalon Labs launched on Bitcoin Layer 2 Rootstock, enabling BTC-backed lending for stablecoins such as USDC.E and USDT0.
• Avalon’s TVL hit $752 million, up 113% year-over-year but still down 62% from its $2 billion peak.
• Rootstock has grown its TVL from $42 million in 2023 to $255 million today.

Elliptic unveils crime-tracking tool as stablecoin use surges - Elliptic launched a compliance tool to track crime as stablecoins surpass $94 billion in daily transaction volume.

B² Network launches U2 Bitcoin-collateralized stablecoin - B² introduced U2, a USD-pegged stablecoin backed by BTC collateral, secured by custodians and managed with AI-powered liquidation.

Arbitrum launches $40M DeFi incentives with stablecoin focus - Arbitrum DAO launched “Season One” of its DeFi Renaissance Incentive Program, distributing up to 24M ARB tokens (~$12M). The program prioritizes leveraged yield strategies using stablecoins like USDe, syrupUSDC, sUSDC, and sUSDai.

Trump-backed WLFI lists on HTX with USD1 stablecoin integration - WLFI listed on HTX, marking a push for regulated, inclusive finance and supporting its USD1 stablecoin. HTX rolled out a USD1 Points Program, rewarding users for trading, holding, and staking the stablecoin.

Pundi AI adds USD1 stablecoin to its data pump system - Pundi AI now supports USD1 (BNB Chain) as a base pair when launching new DTOKs.

Web3 Enabler launches payments v3.1 with stablecoin vendor wallets - Version 3.1 introduces vendor liquidation wallets, letting businesses pay vendors in stablecoins while giving vendors the option to settle in fiat like dollars, euros, or pesos.

Fireblocks unveils enterprise stablecoin payments network - Fireblocks launched an enterprise-grade stablecoin payments network designed for financial institutions and crypto firms.

Transak joins Fireblocks to expand fiat-to-stablecoin infrastructure - Transak joined as a launch partner for the Fireblocks Network for Payments, providing turnkey fiat-to-stablecoin rails for institutions.

Hyperliquid prepares USDH stablecoin launch - Hyperliquid may launch USDH, a native stablecoin, in its next major network upgrade; the governance design allows validators to decide which addresses are permitted to buy the ticker.

💲Money in motion: This week’s hottest stablecoin industry financing moves!

👋 That's your stablecoin scoop for the week.

Until next time — AllScale Weekly

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