Editor - Jackie
In Feb 2026, stablecoin transaction volume ($7.2T) exceeded the US Automated Clearing House volume ($6.8T), marking stablecoins’ rise as foundational global payment rails.
This is a major milestone for stablecoins moving from crypto markets into real payment infrastructure.
ACH is a core part of traditional US money movement, so beating it signals scale that is hard to ignore.
Standard Chartered said stablecoin usage was rising faster than expected as new use cases emerged.
The report framed this as the clearest macro stablecoin story during the coverage window.
The takeaway is that adoption is broadening beyond trading into more practical uses.
The US Treasury issued an Notice of Proposed Rulemaking (NRPM) under the GENIUS Act calling for comment on state frameworks that mirror federal rules.
It requires 1:1 reserve backing, monthly audits, full AML and sanctions compliance, and bans on token rehypothecation.
This matters because it shows Washington trying to shape how state-level stablecoin regimes can qualify under a national framework.
Federal Reserve Governor Michael Barr called for robust oversight of stablecoins and reserve monitoring.
He tied those comments to wider U.S. legislative fights around crypto regulation.
The message reinforces that reserve quality and supervision remain central to the U.S. policy debate.
Hong Kong missed its own March 2026 target to approve HKD stablecoin issuers.
As of Apr 1, the HKMA had approved zero issuers, delaying the rollout of its tokenized Hong Kong dollar framework.
The delay matters because it slows one of the most-watched bank-friendly stablecoin jurisdictions in Asia.
Coin Center warns future U.S. crackdowns stay possible if Congress leaves crypto rules vague - Crypto advocates argue that without clearer law, future administrations could still squeeze stablecoin activity through enforcement rather than formal rulemaking.
Payments firm Convera partnered with Ripple to integrate stablecoin settlement into its FX network.
The deal combines Convera’s global payments platform with Ripple’s blockchain infrastructure to offer faster, stablecoin-backed cross-border and treasury solutions.
It matters because this is a clear example of stablecoins getting embedded into existing enterprise payment workflows.
Institutional liquidity provider B2C2 said it would route and settle large-scale stablecoin transactions for institutional clients primarily through Solana.
The move stands out as one of the biggest infrastructure decisions in the coverage window.
It signals stronger institutional confidence in Solana for stablecoin settlement.
KB Kookmin Card said it would build a hybrid stablecoin payment model with Avalanche.
The announcement shows major traditional card infrastructure moving closer to stablecoin-linked consumer payments.
It matters because it points to stablecoins entering everyday card experiences, not just crypto-native platforms.
NovaBay’s pivot into crypto turns a former biotech company into a Sky-heavy stablecoin bet - NovaBay rebranded as Stablecoin Development Corporation after raising $134 million and building a large SKY position to anchor its new strategy.
TRON opens more institutional access to TRC-20 USDT through zerohash - TRON said expanded enterprise access will let fintech and business clients use TRX and TRC-20 USDT for custody, liquidity, trading, and settlement more easily.
OSL says stablecoins are becoming central to its business model - OSL claimed stablecoin trading made up 60% of transaction volume as it repositioned itself around global stablecoin payments and trading.
Circle launched cirBTC, a new fully-backed wrapped Bitcoin token.
It is designed to bring BTC liquidity to DeFi and will debut on Ethereum and Circle’s Arc blockchain.
The launch matters because it extends Circle’s role from stablecoins into broader tokenized infrastructure around Bitcoin liquidity.
👋 That’s your stablecoin scoop for the week!
Until next time — AllScale Weekly
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