Issue archive
Every issue is published on the first of the month. The web edition is open on the site, the PDF is a direct link.
The banks' answer produces its first live transaction
HSBC and Standard Chartered settled the first transfer on SWIFT's ledger, 39 state associations announced BankChain, JPMorgan opened the door to its own stablecoin, and Treasury, the OCC and the FASB are writing the GENIUS framework — ten stories of the month.
The month of an institutional watershed
The MiCA deadline redistributed the EU market, the US missed its GENIUS rulemaking deadline, and three forces converged on the incumbent issuers — Open USD, Visa's issuance platform and the banks' tokenized deposits.
The heavyweights all move on stablecoins at once
Payment networks, the largest banks of the US, Japan and Korea, central banks and lawmakers — twelve stories, including the joint Stripe/Visa/Mastercard platform and The Clearing House tokenized-deposit network.
37 EU banks build a euro stablecoin
Qivalis, MiCA licence consolidation, and the first euro-token settlements between regulated banks.