The Stable Scoop: CLARITY’s Yield Line, Ramp’s Stablecoin Accounts, and Coupang’s KRW Pilot

Editor - Alex

July 28, 2026

• Senator Cynthia Lummis released a 616-page CLARITY Act substitute on July 22, finally merging the Banking and Agriculture Committee work that failed to appear last week; the earlier version cleared Senate Banking 15-9 in May, but this substitute has not passed the full Senate.

• Section 404 would stop covered platforms and affiliates from paying interest or yield solely for holding a payment stablecoin balance, but preserve rewards tied to payments or transactions; it also bars marketing stablecoins as deposits, investments, government-backed products, or FDIC-insured.

• That distinction matters to wallets, exchanges, and payment apps. The draft keeps room for commerce incentives while targeting products that compete with bank deposits by paying users simply to park digital dollars.

The text is public, but the 60 votes are not there yet - Axios reports that ethics language remains the biggest obstacle as progressive groups pressure Democrats and bipartisan negotiators search for a compromise.

The AML comment window closed without producing a final rule - Comments on the OCC’s proposed Bank Secrecy Act and sanctions standards, coordinated with FinCEN and OFAC, were due July 24; issuers still have a proposal, not a finished compliance rulebook.

• Coupang and Woori Bank completed a KRW stablecoin proof of concept that covered a Coupang Eats payment, real-time merchant settlement, and wallet-to-bank on/off-ramping in a commercial-service-like environment.

• The test ran on Tempo, a payments-focused Layer 1 in which Coupang is an early partner and investor. Korea Economic Daily reports that Coupang and Coupang Eats together process more than KRW 77 trillion ($55.6 billion) annually, while Eats merchants currently wait four business days for settlement.

• This is a technical validation, not a consumer launch: the companies say they will continue testing alongside Korea’s stablecoin rulemaking. But it is a far more concrete merchant-cashflow use case than an issuer memorandum, connecting checkout, settlement, and bank conversion in one loop.

• Ripple made an undisclosed strategic investment in Notabene, with plans to integrate RLUSD into Notabene Flow and explore trusted payment authorization for Ripple Payments.

• Notabene says its network connects more than 2,300 institutions across 100-plus jurisdictions and facilitates over $2 trillion in annualized transaction volume. Its Flow product is extending those controls into pull payments, subscriptions, and automated invoicing.

• Stablecoin payments between institutions need identity, counterparty checks, transaction authorization, and a record of who approved what before the tokens move. Ripple is buying into that coordination layer instead of treating settlement as the whole product.

🌍 Finance teams want stablecoins inside the same approvals, invoicing, and reconciliation systems they already use. That is also the operating model behind AllScale: local and stablecoin payment methods meet in one business workflow instead of living in separate wallets and spreadsheets.

Augustus raised $180 million to rebuild dollar clearing - The Tiger Global-led Series B values the company at $1 billion and backs an API-first bank stack spanning Swift, ACH, SEPA, and stablecoins; its U.S. national bank charter remains conditionally approved.

• Ramp launched Stablecoin Accounts for eligible U.S. businesses and added USDC and USDT to Bill Pay, letting a company fund a stablecoin vendor payment from a bank account without holding crypto itself.

• Customers can send stablecoins to wallets in 140+ countries, use local payout rails in 40+ currencies, and earn up to 3.25% in promotional rewards; Bridge, Stripe’s stablecoin orchestration platform, supplies the custody and conversion layer. The accounts are not bank deposits or government-insured, and Ramp’s Help Center excludes New York.

• Ramp says more than 1,000 businesses already pay vendors in stablecoins and over 70% of that volume moves outside banking hours. The product matters because approvals, accounting, and reconciliation stay in the finance system while settlement moves onchain, removing the separate wallet workflow that normally creates work for finance teams.

• Ripple opened Ripple Mint to existing RLUSD customers, combining minting, redemption, balances, and transaction status in one interface.

• APIs and webhooks can automate fiat receipt, mint processing, onchain settlement, and payout completion, with shared reference IDs linking each step for reconciliation. Ripple also named recent RLUSD expansion to Base, Optimism, Ink, Unichain, and the XRPL EVM Sidechain.

• This is the unglamorous layer that makes a stablecoin usable at scale: treasury and operations teams need lifecycle visibility, chain coverage, and exception handling, not just a token contract and a block explorer.

Coinbase Business opened checkout to AI agents - Businesses can now accept USDC through x402 without a separate merchant flow, while a new SDK packages payment acceptance for APIs, MCP servers, and web services. The aim is machine-initiated purchasing with the same reporting and reconciliation controls available to human-operated accounts.

zerohash and Marqeta opened a card-issuing lane for stablecoin balances - Their partnership lets Marqeta customers embed stablecoin spending in card programs; zerohash supplies the stablecoin infrastructure while Marqeta handles issuance, acceptance, and bank/network relationships.

MoonPay became Tempo’s featured fiat onramp - MoonPay added USDC.e and PathUSD across Ramps and Virtual Accounts, while MoonPay Headless gives Tempo Wallet users a native route from fiat into the payment network.

👋 That’s your stablecoin scoop for the week!

Until next time — AllScale Weekly

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