News, data and analysis on tokenized assets, market design and digital economic systems.
Dollar and non-dollar payment tokens as instruments: reserve composition, redemption at par, issuance economics and the rules now written for them.
The Comptroller granted preliminary conditional approval on 14 August to charter World Liberty Trust Company, which will issue and redeem USD1, hold its reserve and custody digital assets as a fiduciary.
KPMG US issued an unqualified opinion on the 2025 financial statements of Tether International, the entity Tether says is the only issuer of USDT, and found reserves exceeding liabilities by $6.814bn at 31 December 2025.
Cohort 2 of the Central Bank of Nigeria's regulatory sandbox takes applications from 12 August for supervised live testing of stablecoin issuance, virtual asset payments, custody and on-ramps.
Total revenue and reserve income of $701m in the second quarter grew 7% year on year, short of the $712m CoinDesk says analysts expected, as a 66 basis point fall in the rate Circle earns on its reserves offset a quarter's growth in the coin's average supply.
Eleven institutions will secure the stablecoin issuer's own layer-one network before its 16 September mainnet, and the DTCC will make Arc a supported chain for tokenizing the assets it custodies from the second half of 2027.
The yen stablecoin issuer says the extension takes the round to about 6bn yen cumulatively, with a listed logistics group aboard.
The SEC-registered transfer agent brings its dShares home, selling every S&P 500 company for USDC through self-custody wallets, in what the firm calls an industry first.
SC Ventures, the Sony Innovation Fund, Polychain Capital and Blockchain Capital back the pan-African payments company's dollar-account business, taking its equity financing past $120m as it moves into Latin America and the Asia-Pacific.
BSTBL puts an existing Treasury fund's shares on Ethereum through BNY; BRSRV is a new multi-chain vehicle with Securitize—both shaped to sit inside GENIUS Act reserve rules.
The NYDFS has granted Circle Internet Trust Company a limited purpose trust charter, putting the USDC issuer under the New York Banking Law a decade after it took the first BitLicense.
BDO's attestation shows $183.6bn of USDT backed by $187.8bn of assets at 30 June—an excess of $4.11bn, down from $8.23bn a quarter earlier.
Revenue of $1.22bn missed on both the trading and subscription lines and the shares fell about 5% after hours, in a quarter the exchange's own release leads on a record 10.3% share of crypto trading volume.
The federally regulated dollar token Tether launched in January now mints and burns natively on the payments network, where it can also pay for gas.
A memorandum of understanding puts securities tokenization, blockchain settlement and investor education on the table at East Africa's largest exchange, with the role of USDT still undefined.
The exchange holding Nigeria's first provisional digital asset approval says businesses can now settle in 14 currencies across nine African markets and beyond, a bet that regulated rails can undercut some of the world's costliest payment corridors.
The USDC issuer acquires more than 680 patent families and says the deal makes it the largest US blockchain patent holder; the price was not disclosed.
Amanah Advisors certifies XAUT as compliant with Islamic finance principles, as Tether courts Islamic banks and savers in markets where gold, not the dollar, is the trusted store of value.
Kenya gazetted the Virtual Asset Service Providers Regulations, 2026 on 24 July 2026, completing implementation of the VASP Act assented to in October 2025.
The Bank for International Settlements published the money and payments chapter of its 2026 Annual Economic Report on 23 June 2026, arguing that stablecoins fall short on singleness, elasticity and integrity of money.
On 22 June 2026 the Bank of England published a policy statement and draft Code of Practice for sterling systemic stablecoin issuers, dropping proposed individual holding limits in favour of a temporary £40bn cap per issuance.
The IMF Executive Board concluded its 2026 Article IV consultation with Nigeria on 9 June 2026 and identified stablecoin oversight as a priority.
The European Commission opened a two-part consultation on revising the Markets in Crypto-Assets Regulation in May 2026, with responses due by 30 August 2026.
Mastercard and the African digital-asset platform Yellow Card announced a partnership on 7 May 2026 to build stablecoin-based payment and settlement rails across Eastern Europe, the Middle East and Africa.
The Hong Kong Monetary Authority granted its first stablecoin issuer licences on 10 April 2026 to HSBC and to Anchorpoint Financial, a joint venture led by Standard Chartered with Animoca Brands and HKT.
An IMF working paper published on 27 March 2026 examined cross-border stablecoin flows and their effects on emerging-market foreign exchange rates.
The Office of the Comptroller of the Currency published a proposed rule on 25 February 2026 implementing the GENIUS Act, consolidating reserve, redemption, audit and supervision requirements for payment stablecoin issuers in a new 12 CFR Part 15.
Tether announced USAT on 27 January 2026, a dollar stablecoin issued in the United States by Anchorage Digital Bank under the GENIUS Act framework, with Cantor Fitzgerald as reserve custodian and preferred primary dealer.
Receiving $200 in Sub-Saharan Africa cost 8.46% in the third quarter of 2025; the tokens undercutting that price are almost entirely dollar-denominated, and the flows are unmeasured.
Circle's euro token held €381.8m in June 2026 against $72.6bn of its dollar token, and MiCA's ban on paying interest sent what euro demand exists onchain into money market funds instead.
What issued, what settled, what the supervisors changed, with the numbers behind it and a note on what the numbers do not show. One email, Thursday mornings.
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