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CZ’s Kyrgyzstan visit highlights limits of state backing for stablecoin exits
CZ praised Kyrgyzstan’s KGST on September 5, while separate USDKG reporting points to institution-only direct redemption and UK sanctions against its issuer since May. The developments spotlight stablecoin exit-access risks.
Regulated Banking Infrastructure Seen as Key to Stablecoin Growth
Decrypt says stablecoin adoption could be limited by a shortage of trusted, regulated infrastructure. As institutional interest grows, banking support is identified as a key requirement for the sector to scale.
Fed Note Highlights Double-Counting Risk in Stablecoin Money Measures
Federal Reserve staff research says stablecoins could theoretically fit into M1 or M2, but reserve overlap and offshore circulation make it difficult to measure their liquidity impact without risking double-counting.
Bank of Korea Study Links Dollar Stablecoin Demand to Local Currency Weakness
A Bank of Korea study links buying pressure in dollar-backed stablecoins and Binance-paired currencies with local-currency depreciation, citing market makers’ efforts to balance positions as a possible channel.
OpenReserve Wins Approval for Full-Service National Bank Charter
a16z-backed OpenReserve received approval for a full-service national bank charter. The startup chose this route over a trust-bank structure, opening a path to insured deposits and conventional lending alongside stablecoin issuance.
Revolut and OpenReserve receive preliminary US bank approval with crypto plans
Revolut and OpenReserve received preliminary OCC approval to form US national banks. Both companies plan to offer cryptocurrency and stablecoin-related services, although final authorization, product details and launch timing were not provided.
South Korea Sets February 2027 Goal for Full Tokenized Securities Market
South Korean regulators are targeting February 2027 for a fully tokenized securities market under a phased distributed-ledger roadmap. The plan concludes with onchain stablecoin settlement, CoinDesk reported.
Mantle Adds Paxos-Issued USDG and Joins Global Dollar Network
Mantle has added Paxos-issued USDG as a natively minted stablecoin and joined the Global Dollar Network’s reward-sharing structure, according to Cointelegraph. The development links USDG, Mantle and the broader stablecoin market.
Kraken Parent Payward Partners With SoFi on Stablecoin and 24/7 Settlement
Payward, Kraken’s parent, will bring SoFiUSD to Kraken and connect to SoFi’s 24/7 dollar settlement network. SoFi will receive access to digital-asset liquidity through Kraken Prime under the partnership.
Goldman Sachs and Bank of America Join 21-Bank Stablecoin Initiative
A 21-bank consortium including Goldman Sachs and Bank of America plans to launch a U.S. dollar stablecoin in the first half of 2027, with a euro version planned afterward, Decrypt reports.
Wyoming Uses Chainlink for Onchain FRNT Reserve Verification
Wyoming is using Chainlink for near-real-time, onchain reserve verification for FRNT, its state-issued stable token. The integration broadens Chainlink’s role in tokenized financial markets, according to Cointelegraph.
Major financial institutions move to capture the $1.9 trillion stablecoin shift
Twenty-one major financial institutions, including Bank of America and Citi, are positioning themselves around stablecoins as Standard Chartered estimates the tokens could remove about $500 billion from US bank deposits by 2028.
BofA, Citi and Goldman Sachs Join 21-Institution Stablecoin Venture
Bank of America, Citigroup and Goldman Sachs are among 21 institutions planning a stablecoin venture. The project will start with a US dollar stablecoin before expanding to other G7 currencies, with the euro next.