Industry News
Amazon and Walmart are exploring the issue of issuing their stablecoins to cut payment costs. The retail giants are evaluating USD-pegged tokens to bypass card networks and save billions in fees. Still, their plans hinge on pending U.S. stablecoin legislation like the GENIUS Act moving through Congress.
Stripe acquires Web3 identity startup Privy to power tokenized wallet onboarding. The payments giant acquired Privy, which builds user identity and onboarding flows for wallets, as part of a push to make tokenized finance and embedded crypto experiences more seamless and compliant.
Big Tech firms eye stablecoins for payments integration. Apple, X (Twitter), Google, and Airbnb have held early talks with crypto companies about adding stablecoin payments to reduce card fees and streamline global transactions.
Societe Generale launched a dollar stablecoin, the first for major banks. The French bank’s crypto arm, SG-Forge, introduced “USD CoinVertible,” a USD-pegged stablecoin on Ethereum and Solana. Thus, SocGen became the first big bank to issue a dollar stablecoin.
Coinbase unveils “Crypto-as-a-Service” for banks, including stablecoin support. Coinbase launched a new CaaS platform to help financial institutions embed crypto and stablecoin features in their products.
Jack Ma’s Ant Group seeks stablecoin licenses in Hong Kong and Singapore. The international unit of Ant (Alipay) plans to apply for permits to issue stablecoins once new regulations take effect in those markets.
“Stable L1” blockchain launches with feeless USDT transactions. Backed by Tether’s team (via USDT0) and Bitfinex, Stable L1 emerged from stealth as a new Layer-1 network using USDT as the native gas token.
Noah, a stablecoin startup, lands $22M and a fintech veteran co-founder. Early-stage startup Noah raised $22 million in new funding and added a former Adyen executive as a co-founder.
OpenTrade secures $7M to expand stablecoin yields in emerging markets. London-based OpenTrade raised $7 million (led by Notion Capital and Mercury) to grow its “yield-as-a-service” platform for dollar and euro stablecoins.
Ondo Finance Launches $693 M Tokenized Treasury on XRP Ledger. DeFi platform Ondo debuted its flagship tokenized U.S. Treasuries fund (OUSG) on Ripple’s XRP Ledger, expanding a market that has surged to $7.2 billion in on-chain treasuries.
Alchemy Pay & Backed Tokenize 55 U.S. Stocks and ETFs, Fiat-crypto gateway Alchemy Pay partnered with Swiss firm Backed to launch 55 tokenized U.S. equities and ETFs on its real-world asset platform.
BlackRock’s Tokenized Fund Nears $3 B After Soaring 3×, BlackRock’s blockchain-traded USD Liquidity Fund (BUIDL) has swollen to $2.89 billion as of June 11 – a ~$1 B increase in under three months.
Morpho V2 Enables DeFi Loans Against RWA, Lending protocol Morpho unveiled Version 2, introducing fixed-rate, fixed-term loans with customizable terms for institutions.
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