In a recent expert commentary, executives from BlackRock, the world’s largest asset manager and a leading issuer of cryptocurrency exchange-traded funds (ETFs), identified a significant trend in the cryptocurrency market, particularly for Bitcoin (BTC). They foresee a major surge ahead, driven by recent US legislative developments such as the signing of the GENIUS Act. They assert that these developments bolster the role of stablecoins as key players in the future of digital payments. New Regulatory Landscape For Stablecoins Central to BlackRock’s analysis is the recently enacted GENIUS Act, legislation that aims to establish a comprehensive framework for stablecoins as a means of payment. Stablecoins, digital tokens pegged to traditional currencies such as the US dollar, are gaining significant traction among traditional finance firms seeking to modernize their transactions, and could solidify the dollar’s dominance in global markets. Related Reading: Bitcoin Demand Drops Among US Investors—Is a Price Correction Coming? Though their current market share is about 7%—equating to approximately $250 billion—the rapid adoption of stablecoins since 2020 indicates a growing acceptance within the financial landscape. The GENIUS Act delineates stablecoins as payment methods rather than investment products, which includes provisions to prohibit interest payments and restrict issuance to federally regulated banks and select nonbanks. This regulatory framework is poised to create a tokenized ecosystem centered around the US dollar, facilitating easier access for users in emerging markets while potentially limiting adoption in major economies due to the ban on interest payments. Additionally, the act specifies the types of assets that stablecoin issuers can hold in reserve, predominantly consisting of repurchase agreements, money market funds, and US Treasury bills with short maturities. Notably, major stablecoin issuers like Tether (USDT) and Circle (USDC) currently hold over $120 billion in Treasury bills, yet this represents only a small fraction of the total outstanding US Treasury bills. BlackRock Optimistic About Bitcoin’s Potential BlackRock’s commentary also suggests that while the demand for Treasury bills may increase as the stablecoin market grows, the overall impact on yields could be limited. This is due to a likely offsetting shift of funds from similar assets rather than generating significant new demand. Furthermore, the US Treasury’s inclination to increase short-term debt issuance to address persistent budget deficits may also dampen any upward pressure on yields. Beyond US borders, other regions are also taking steps to regulate stablecoins. Hong Kong is implementing new regulations aimed at fostering innovation in stablecoins, while Europe is exploring the concept of a digital euro, albeit with limitations to protect traditional banks. Related Reading: XRP Dormant Coins On The Move: Reason Behind Price Plunge? Should other nations allow interest-bearing stablecoins or pursue central bank digital currencies (CBDCs), the US dollar’s role in trade finance could be at risk, the experts assert, potentially prompting the US to reconsider its stance on interest payments. As digital assets continue to gain mainstream acceptance, the combination of regulatory support and US administration backing suggests a future where Bitcoin and stablecoins play a more integral role in financial systems. BlackRock remains optimistic about Bitcoin’s potential as a distinct return driver and a key asset in diversified investment portfolios. Featured image from DALL-E, chart from TradingView.com
Hong Kong’s new stablecoin regime is set to take effect on Aug. 1 to mandate licensing from the HKMA for stablecoin issuers.
BlackRock stated that stablecoins now sit at the heart of the “future of finance,” and the recently approved GENIUS Act gives them a clear lane as everyday payment instruments. In a July 28 report, the BlackRock Investment Institute wrote that stablecoins “look here to stay” and that recent legislation cements their use in payments rather […]
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The Hong Kong Monetary Authority encouraged firms to apply for a stablecoin license by the end of August.
The Hong Kong Monetary Authority (HKMA) has invited stablecoin issuers to begin applying for licenses as the city’s stablecoin regulations are enacted in August. In a statement released on July 29, the HKMA said interested firms can submit preliminary applications by Aug. 31. This early stage is designed to help applicants understand regulatory expectations and […]
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In the first quarter of this year alone, Coinbase earned roughly $300 million in distribution payments from Circle, and that's just the start.
U.S. dollar stablecoins will cement their dominance unless alternatives like the digital euro arise, an adviser to the European Central Bank said.
Stablecoin search interest reached an all-time high this month, days before the White House signed the GENIUS Act into law. New Google Trends data shows that search activity for “stablecoins” peaked globally just as U.S. policymakers finalized a federal framework for payment stablecoins, the first of its kind in the country. Interest in the term […]
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The Bitcoin Stablecoin Supply Ratio (SSR) points at thinning liquidity in the sector, potentially explaining the consolidation in the asset’s price. Bitcoin SSR Rose Alongside The Earlier Price Surge As pointed out by an analyst in a CryptoQuant Quicktake post, the Bitcoin SSR has witnessed an increase recently. The “SSR” here refers to an indicator that measures the ratio between the market cap of Bitcoin and that of the stablecoins. Related Reading: Bitcoin Open Interest Sets New Record As Price Plunges To $115,000 Stablecoins are cryptocurrencies that peg themselves to the price of a fiat currency, with USD-based tokens being the most popular. Investors generally use stables when they want to escape the volatility associated with other digital assets like Bitcoin. Many holders who keep their capital stashed away in stablecoins, however, eventually plan to re-invest into volatile coins. As such, some view the supply of these cryptocurrencies as a measure of the ‘dry powder‘ available in the sector for BTC and other assets. Since the SSR compares the market cap of Bitcoin against this dry powder, it tells us about which part of the sector investor capital is dominating right now. When the metric goes up, it means that capital is transferring from stablecoins to BTC or if both are receiving inflows, that the latter is just seeing more of them. In either case, relative dry powder is going down. Similarly, the metric registering a decline implies capital is shifting towards stables. Such a trend can be a sign that investors have more purchasing power relative to BTC’s market cap. Now, here is a chart that shows the trend in the Bitcoin SSR over the last few months: As displayed in the above graph, the Bitcoin SSR tracked the earlier BTC price surge almost 1:1, indicating that the increase in the asset’s market cap outpaced any rise in stablecoin liquidity. Since the peak in the cryptocurrency’s price, the indicator has declined a bit, but its value still remains at a significant level of 18.8. This means that the asset’s total value is currently 18.8 times the supply of the stablecoins. “This indicates a temporary saturation in the market unless we see additional stablecoins entering,” notes the quant. The recent high values in the Bitcoin SSR may at least be in part behind the consolidation that the cryptocurrency has been facing. Related Reading: This Bitcoin Metric Often Flags Turning Points—What’s It Saying Now? It now remains to be seen where the metric would go next. A drop in its value would naturally suggest stablecoins are witnessing inflows, which could potentially set up the next leg in the BTC rally. BTC Price Bitcoin briefly declined below $115,000 on Friday, but the coin has since bounced back as its price is now trading around $118,800. Featured image from Dall-E, CryptoQuant.com, chart from TradingView.com
Interactive Brokers is considering launching a stablecoin for customers, a move that would add one of the world’s largest discount brokerages to the list of firms using crypto, Reuters reported on July 28. Founder Thomas Peterffy said in an interview with the newswire that the company is “working on potentially issuing stablecoins.” However, a final […]
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PayPal Holdings Inc. has rolled out a way for US merchants to accept crypto payments. The company set a flat fee of 0.99% per transaction. That’s a hefty cut compared with the near 2.99% merchants often pay on cross‑border credit card sales. Related Reading: Bitcoin’s New Clock: How Wall Street Killed The Old Cycle, According To Expert According to PayPal, businesses can save up to 90% on transaction costs when buyers pay with digital coins. Flat Fees For Crypto Payments Based on reports, every sale automatically converts crypto into fiat or stablecoins when the merchant chooses. Companies can pick from more than 100 tokens under its “Pay with Crypto” feature. Bitcoin and Ethereum lead the list. Other picks include USDT, XRP, BNB, Solana and PayPal’s own PYUSD. That stablecoin is backed by US dollar deposits, short‑term Treasuries and cash equivalents. Merchants who stick with PYUSD earn 4% rewards on balances held in their PayPal account. ????BREAKING: PayPal will allow U.S. merchants to accept over 100 cryptocurrencies with a 0.99% transaction fee for the first year, increasing to 1.5%. #CryptoPayments #Fintech — Michael Pace (@mjpgroup) July 28, 2025 Wide Range Of Wallets And Coins The American payments processing firm also tied this service into wallets beyond its own. Coinbase, MetaMask, OKX, Binance, Kraken, Phantom and Exodus all plug in. That opens the door to some 650 million crypto users around the globe. PayPal says it’s tapping into a $3 trillion market that has grown fast over the past decade. Smaller businesses in particular could find it easy to add crypto as a payment option without heavy engineering work. A Nod To Global Ambitions The launch follows PayPal’s introduction of PayPal World, a platform that links five digital wallets worldwide. PayPal then struck a deal with Fiserv to spread stablecoin use further abroad. Together, those moves hint at an effort to build plumbing for fast, low‑cost money transfers everywhere. Merchants in the US won’t see surprises at checkout. That 0.99% fee covers network charges and conversion work. By comparison, traditional cross‑border credit card sales often carry fees that climb past 3%. It’s easy math for sellers: a $1,000 sale in crypto costs $9.90 instead of about $30. That margin could be the difference between profit and loss. Related Reading: Memecoins, NFTs Get Called Out By Their Own Architect: ‘Zero Intrinsic Value’ Regulatory Approval Still Pending According to PayPal, the rollout will begin in the US “in the coming weeks.” One catch: New York merchants must wait on permission from the New York State Department of Financial Services. PayPal says it hasn’t secured that approval yet. Featured image from Getty Images, chart from TradingView
The funding is more than seven times the amount the project sought to raise, as it sets out to provide free USDT transfers.
The Series A funding round was led by Pharsalus Capital and included contributions from Circle Ventures, The Operating Group and XVC Tech
Interactive Brokers, founded in 1978, is reportedly considering launching a stablecoin to support 24/7 funding for brokerage accounts.
Binance has launched RWUSD, a new principal-protected yield product offering up to 4.2% APR benchmarked against tokenized U.S. Treasury bills and other real-world assets. The offering aims to continue Binance’s plan to incorporate off-chain financial instruments into its Earn product suite while avoiding direct exposure to tokenized assets. Users can subscribe to RWUSD using stablecoins […]
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Welcome to Slate Sundays, CryptoSlate’s new weekly feature showcasing in-depth interviews, expert analysis, and thought-provoking op-eds that go beyond the headlines to explore the ideas and voices shaping the future of crypto. If 2024 was the year of the dragon, 2025 has been the year of the stablecoin. U.S. dollar-backed digital assets, in particular, have taken […]
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Nigeria’s Securities and Exchange Commission (SEC) has expressed support for stablecoin businesses that operate within the bounds of the country’s digital asset regulations. During the Nigeria Stablecoin Summit held in Lagos, SEC Director-General Emomotimi Agama reportedly said the African country is ready to embrace blockchain-based payment innovations as long as they comply with existing laws. […]
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Between July 21 and 25, the total stablecoin market cap increased by $4.505 billion to reach $265.22 billion, a 1.73% expansion. Over the same timeframe, total value locked (TVL) in DeFi dropped from $140.804 billion to $135.934 billion, a 3.46% drawdown. While the rise in stablecoin supply could be interpreted as a sign of incoming […]
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Tether, the issuer of the world’s largest stablecoin USDT, has disclosed a portion of its investment portfolio, revealing an involvement in cryptocurrencies that extend beyond Bitcoin (BTC). The announcement comes as Tether reports record profits in 2024, which have been used to fund these strategic investments in more than 120 companies across multiple sectors. Tether Expands Investment Portfolio Beyond Bitcoin Tether has unveiled a glimpse into its expansive investment portfolio, marking a significant pivot in its capital allocation strategy beyond just Bitcoin. The Chief Executive Officer (CEO) of Tether, Paolo Ardoino, confirmed in an X social media post that the stablecoin firm has invested in over 120 companies as part of its Tether Investment division. He added that this number is expected to grow in the coming months and years. Related Reading: Today In Crypto: 3 Major Bills Passed In The US House, Here’s What You Should Know Notably, Ardoino disclosed that these investments are funded exclusively through the company’s record profits from 2024, which total $13.7 billion. He emphasized that none of the funds were obtained from reserves backing Tether’s stablecoin. Interestingly, Tether’s profits, generated from yield on its holdings of over $130 billion in US Treasuries, are now being directed into transformative industries through some of the most prominent companies. Its venture arm has expanded its focus past Bitcoin, now investing in areas like Artificial Intelligence (AI), renewable energy, privacy infrastructure, tokenization, agriculture, and others. When asked by Crypto Tale how this diverse portfolio supports USDT’s position amid an increasingly stringent global regulatory environment, Ardoino underscored its strategic importance. On the question of USDT’s future in Europe under the continent’s new MiCA regulations, the Tether CEO stated that the stablecoin company would only consider re-entry once the regulatory landscape offers stronger protections for both consumers and stablecoin issuers. Companies In Tether’s Venture Portfolio On its official website, Tether shared a partial list of some of the companies among the 120 it has invested in. These range from blockchain infrastructure platforms like Synonym and Holepunch, to AI-focused firms like Crystal Intelligence, and payment technology providers such as CityPay.io and Sorted Wallet. The presence of companies like Blackrock Neurotech and Adecoagro reflects a commitment to broader technological and environmental impact, reaching into neuroscience and agriculture, respectively. Related Reading: Michael Saylor Reveals The Only Thing ‘Better Than Bitcoin’ As MSTR Stock Outperforms Tether’s investment narrative is framed not solely in financial terms but as a deliberate push toward catalyzing decentralization and empowering individuals. The stablecoin firm declared its capital as a “catalyst for change,” invested in projects that reduce reliance on centralized systems and promote global equity. This mission-driven approach is visible across its portfolio, which also includes companies involved in data sovereignty like Northern Data, cross-border financial solutions such as Quantoz and OrionX, and privacy-first communication platforms. Mansa, a DeFi fintech venture, and Oobit, a global crypto payment platform, have also joined Tether’s investment portfolio, marking another step toward the company’s push toward real-world crypto adoption. Both firms expressed appreciation for the support, aligning with Tether’s broader vision to integrate stablecoins into everyday payment systems. Featured image from Adobe Stock, chart from Tradingview.com
The nearly 250,000 Tether Gold (XAU₮) tokens in circulation are backed by the equivalent of more than 7.66 tons of gold in total, as of Q2 2025.
Ethena Labs has partnered with Anchorage Digital to launch a fully regulated version of its USDtb stablecoin within the United States, aligning with the newly enacted GENIUS Act, according to a July 24 statement. The collaboration marks a major milestone for Ethena as it transitions USDtb’s issuance to a domestically regulated GENIUS Act framework that […]
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The bank expects further adoption of tokenized assets and money market mutual funds once the crypto market structure bill, the CLARITY Act, becomes law.
Institutional exchange clients can now hold the tokenized money market fund for use as off-exchange collateral for derivatives trades.
Anchorage will issue Ethena’s USDtb onshore, providing the first GENIUS‑compliant stablecoin and bringing the asset under U.S. federal oversight.
A coalition of fintech and crypto trade groups is urging the White House to defend open banking and stop JPMorgan from charging fees to access customer data.
Beijing once warned of stablecoin risks. Now it’s turning to them to help stem the growth of U.S. dollar-pegged tokens in Asia.
Tether CEO Paolo Ardoino said the stablecoin issuer is "well underway" to do business in the U.S. in an interview with Bloomberg Television.
Only a few stablecoin licenses will be issued, Hong Kong Monetary Authority CEO Eddie Yue said.
Crypto prediction market Polymarket is considering launching its own stablecoin to gain control over the interest-bearing reserves currently backing USDC deposits on its platform, CoinDesk reported, citing sources familiar with the matter. The deliberations reflect a broader industry trend as platforms seek to internalize stablecoin-related revenue, particularly in closed ecosystems. The source told the news […]
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PNC Financial Services Group has formed a partnership with Coinbase to let the bank’s customers access crypto services, as Bloomberg News reported on July 22. According to PNC’s head of treasury management Emma Loftus, the arrangement is in its early phase. It will begin by allowing wealth and asset management clients to trade cryptocurrencies directly […]
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