Market cap
$304B
Where traditional finance goes digital — taken apart, layer by layer. A monthly breakdown of how stablecoins enter traditional finance: banks, central banks, issuers, regulation, the real economy.
Networks, bridges, settlement, tokenized deposits. What actually runs in production — and what never left the pilot stage.
Reserves, yield, volumes, issuer concentration. Numbers backed by methodology, not by press releases.
GENIUS Act, MiCA, Bank of England, CBR, FSA. What is in force, what is out for consultation, where the deadlines are.
The issue is fully open: the web edition on the site, the PDF via direct link, in English and Russian. No forms, no paywalls.
Stripe/Visa/Mastercard, banks in the US, Japan and Korea, central banks and lawmakers — twelve stories of the month.
The MiCA deadline redrew the EU market, the US missed the GENIUS rules deadline, and Open USD, Visa's platform and bank deposit tokens turned on the incumbent issuers.
One email with the short breakdown and a link to the full issue.