A monthly breakdown of how stablecoins enter traditional finance: banks, central banks, issuers, regulation, the real economy. https://stblcns.xyz/en 2026-10-01T09:00:00+03:00 Behind the Peghttps://x.com/behindthepeg © 2026 Behind the Peg https://stblcns.xyz/reports/State_of_Stablecoins_September_2026 2026-10-01T09:00:00+03:00 2026-10-01T09:00:00+03:00

Twenty-one institutions agreed to set up a joint dollar stablecoin issuer, SoFi moved its card programme to settlement in its own token, tokenised deposits went live in Singapore, the US and the UK, the CLARITY Act failed a Senate vote while the Fed and the OCC kept writing the GENIUS framework, and the Eurosystem launched Pontes — ten stories of the month.

<p><strong>Banks move from debate to signed commitments and live volume</strong></p><p>Twenty-one institutions agreed to set up a joint dollar stablecoin issuer, SoFi moved its card programme to settlement in its own token, tokenised deposits went live in Singapore, the US and the UK, the CLARITY Act failed a Senate vote while the Fed and the OCC kept writing the GENIUS framework, and the Eurosystem launched Pontes — ten stories of the month.</p><p><a href="https://stblcns.xyz/reports/State_of_Stablecoins_September_2026">State of Stablecoins — September 2026</a></p> https://stblcns.xyz/reports/State_of_Stablecoins_August_2026 2026-09-01T09:00:00+03:00 2026-09-01T09:00:00+03:00

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.

<p><strong>The banks' answer produces its first live transaction</strong></p><p>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.</p><p><a href="https://stblcns.xyz/reports/State_of_Stablecoins_August_2026">State of Stablecoins — August 2026</a></p> https://stblcns.xyz/reports/State_of_Stablecoins_July_2026 2026-08-01T09:00:00+03:00 2026-08-01T09:00:00+03:00

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.

<p><strong>The month of an institutional watershed</strong></p><p>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.</p><p><a href="https://stblcns.xyz/reports/State_of_Stablecoins_July_2026">State of Stablecoins — July 2026</a></p> https://stblcns.xyz/reports/State_of_Stablecoins_June_2026 2026-07-01T09:00:00+03:00 2026-07-01T09:00:00+03:00

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.

<p><strong>The heavyweights all move on stablecoins at once</strong></p><p>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.</p><p><a href="https://stblcns.xyz/reports/State_of_Stablecoins_June_2026">State of Stablecoins — June 2026</a></p>