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Citi, Goldman Sachs and other global banks and asset managers are teaming up on a stablecoin venture. The project will begin with a U.S. dollar token for payments and digital-asset settlement, with a euro token planned for expansion.
Singapore’s financial watchdog has proposed requiring stablecoin issuers to hold 100% reserves and banning yield payments. The framework is described as aligned with U.S. and EU rules and could enable recognition of foreign stablecoins.
Singapore is considering bringing some jointly issued, cross-border stablecoins into its regulatory framework, revisiting an earlier plan focused only on domestic issuance, Cointelegraph reports.
Strategy has challenged MSCI’s proposal to remove it from the Global Investable Market Indexes. Michael Saylor and Phong Le called the plan flawed and accused MSCI of discriminating against digital asset businesses.
Japan’s Financial Services Agency requested a fiscal 2027 tax reform to exempt trust-type stablecoins from mandatory tax filings. Cointelegraph said the regulator expects the change to support their use as transaction tools.
Stablecoin reserves under GENIUS cover debt maturing within 93 days, while the US Treasury expands liquidity buybacks for 10- to 30-year debt. CryptoSlate reports the short-term funding channel cannot resolve a $28 billion long-bond problem.
A proposed Treasury change to the GENIUS framework would require US exchanges to conduct reasonable diligence before relying on foreign stablecoin issuers, with noncompliant platforms potentially facing delisting obligations. Comments remain open through Oct. 19.
Crypto executives agree AI agents will need to transact with one another, but they disagree on the solution. CoinDesk reports the eventual machine-payment currency could be a stablecoin—or an asset that has not yet been invented.
BIS chief Pablo Hernández de Cos said stablecoins lack credibility for payments at scale. A new FSI study also found sharp differences in rules applying to stablecoin issuers across jurisdictions.
Chelsea FC will put Circle’s USDC stablecoin name on the front of its jerseys for the upcoming season, according to Circle. The sponsorship follows a UK FCA warning to football clubs about cryptoasset promotions.
Bullish is providing USD.AI with $100 million in stablecoin liquidity for loans backed by AI computing infrastructure, according to Cointelegraph. Terms including duration, rates and collateral valuation were not disclosed.
Cointelegraph reports that Bitcoin’s rebound to $80,000 is lifting crypto-related stocks. Circle, Strategy and Solana highlight the roles of capital markets, stablecoins and onchain growth in the sector’s recovery.
SBI is buying a 20% stake in Indonesian online brokerage Ajaib for $270 million. The Japanese financial group plans to use the investment to expand a yen stablecoin and build a blockchain-based cross-border settlement network in Southeast Asia.
Visa is expanding its South Korean stablecoin payments strategy through Dunamu, operator of the country’s largest exchange, Upbit. CoinDesk says the move follows a separate agreement with Shinhan Financial.
Visa and Dunamu, Upbit’s parent company, are exploring stablecoin payments, remittances and AI commerce. Several projects are under review, including Open Standard’s proposed OUSD, but no launch details were announced.
Public Citizen estimates investors lost $4.7 billion through Trump-linked crypto ventures, while saying USD1 stablecoin holders have not suffered major losses. The claims draw attention to WLFI, USD1 and TRUMP.
