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Stablecoins

Stablecoins are digital assets pegged to a stable reserve, such as the US Dollar or Gold, to minimize price volatility. Serving as the primary medium of exchange in Web3, tokens like USDT, USDC, and PYUSD facilitate global payments and DeFi liquidity. In 2026, the focus has shifted toward yield-bearing stablecoins and compliant stablecoin frameworks under global regulations like MiCA. This tag covers the intersection of traditional finance (TradFi) and crypto through stable on-chain liquidity solutions.

23265 Articles
Created: 2026/02/02 18:52
Updated: 2026/02/02 18:52
FTX liquidation reveals "regional discrimination"? Domestic victims' assets may be "legally" confiscated

FTX liquidation reveals "regional discrimination"? Domestic victims' assets may be "legally" confiscated

On July 4, 2025, Sunil, a representative of FTX creditors, posted a screenshot of an FTX bankruptcy liquidation document on a social platform. The document showed that FTX would seek

Author: PANews

2025/07/04

Japanese digital bank Minna Bank explores stablecoins on Solana in Fireblocks-led research

Japanese digital bank Minna Bank explores stablecoins on Solana in Fireblocks-led research

PANews reported on July 4 that according to Decrypt, Japan's first digital bank, Minna Bank, announced a joint study on stablecoins with Fireblocks, Solana Japan and TIS, focusing on evaluating

Author: PANews

2025/07/04

Chinese Tech Giants Alibaba and JD.com Urge Central Bank Approval for Yuan-Based Stablecoins

Chinese Tech Giants Alibaba and JD.com Urge Central Bank Approval for Yuan-Based Stablecoins

Chinese tech giants JD[dot]com and Alibaba affiliate Ant Group are pressuring the People’s Bank of China to authorize yuan-based stablecoins. The companies are proposing to launch an offshore yuan in Hong Kong to counter the U.S. dollar’s dominance in digital payments and accelerate the yuan’s internationalization, according to Reuters . The lobbying effort comes as Hong Kong’s comprehensive stablecoin regulations take effect August 1, 2025 , establishing one of the world’s most rigorous frameworks for digital currency issuance. 🇭🇰 Hong Kong’s new stablecoin regulations will take effect on August 1, introducing a strict licensing regime and reserve requirements for issuers. #HongKong #StablecoinRegulations https://t.co/Dq6UAZsKl1 — Cryptonews.com (@cryptonews) June 6, 2025 Both companies already plan to issue Hong Kong dollar-backed stablecoins, but argue that offshore yuan tokens are urgently needed as strategic tools for cross-border commerce. Yuan Devaluation At Risk If US Dollar Stablecoins Dominate According to Reuters, over 99% of the $247 billion global stablecoin market remains U.S. dollar-denominated. The yuan’s share of global payments dropped to 2.89% in May, its lowest in nearly two years, while the dollar commands 48.46% market share through SWIFT payment systems. “ The global expansion of U.S. dollar stablecoins is posing fresh challenges to yuan internationalisation ,” said Wang Yongli, former vice head of Bank of China and co-chairman of Digital China Information Service Group. “ It would be a strategic risk if cross-border yuan payment is not as efficient as dollar stablecoins. “ The push is a shift from China’s 2021 crypto ban, which is strategic, as it came at a time when Standard Chartered Bank projects the global stablecoin market could reach $2 trillion by 2028, driven by anticipated U.S. regulatory explicit clarity and institutional adoption. Hong Kong Emerges as Digital Currency Testing Ground Hong Kong’s stablecoin framework requires full reserve backing with high-quality liquid assets, segregated from the issuer’s funds and protected from creditor claims. The minimum capital requirements are HKD 25 million or 1% of the total issuance, whichever is greater. Redemption at par within one business day is required under normal conditions. Previously, JD.com’s subsidiary, Jingdong Coinlink Technology, entered the Hong Kong Monetary Authority’s stablecoin sandbox alongside Standard Chartered, Animoca Brands, and Hong Kong Telecommunications. 🪙 @JD_Corporate is testing a fiat-pegged stablecoin in Hong Kong’s regulatory sandbox for cross-border payments and retail use. #stablecoin #hongkong https://t.co/WlxEcenrfl — Cryptonews.com (@cryptonews) May 30, 2025 The company completed second-phase testing for its blockchain-based stablecoin, pegged 1:1 to fiat currencies, including the Hong Kong dollar and the U.S. dollar. Similarly, Ant Group’s Singapore-based international unit also plans to file for Hong Kong stablecoin licenses immediately after August 1 regulations take effect. The company is also pursuing licenses in Singapore and Luxembourg, anchoring its digital currency ambitions in key global financial hubs. This stablecoin regulation clarity is particularly crucial as Hong Kong banks processed HK$17.2 billion ($2.19 billion) in digital asset transactions during 2024 , with HK$5.1 billion ($649.7 million) under custody by year-end. Ten digital asset trading platforms have secured licenses, with eight more applications under review by the Securities and Futures Commission. Source: SFC Hong Kong Additionally, VMS Group, managing nearly $4 billion for Hong Kong’s wealthiest families, allocated $10 million to Re7 Capital’s decentralized finance strategies . These strategic moves are painting a picture of growing institutional adoption of regulated digital asset exposure in Hong Kong and China as a whole. Strategic Push Against Dollar Dominance Intensifies Chinese exporters are increasingly using dollar-pegged stablecoins as overseas merchants send payments in USDT, according to HashKey chairman Xiao Feng. Capital controls, geopolitical tensions, and currency volatility in emerging markets have spurred this shift among Chinese businesses. In fact, Crypto HK, Hong Kong’s largest crypto OTC exchange, reports a five-fold growth in monthly USDT trading volume by Chinese clients for trade settlement since 2021, as Reuters reported. The trend further shows the growing adoption of dollar stablecoins for cross-border commerce, despite China’s domestic crypto restrictions. JD.com proposed that China allow yuan stablecoin issuance in Hong Kong before expanding pilots to offshore markets within China’s free trade zones. The company argued that Hong Kong dollar stablecoins fail to promote yuan usage since they’re pegged to U.S. dollars. Recognizing the challenges that dollar stablecoins pose to Chinese financial regulation, many high officials are considering “a possibility” for a yuan-pegged stablecoin. President Donald Trump’s support for stablecoins following his January inauguration has particularly accelerated the development of the U.S. regulatory framework. The timing adds urgency to China’s considerations as the GENUIS Act is close to legitimizing dollar-pegged cryptocurrencies. As it stands now, Beijing is evaluating strategic responses to maintain monetary sovereignty amid the growing threat of the dollar’s dominance.

Author: CryptoNews

2025/07/04

China Asset Management: We will continue to launch more tokenized fund products in the future and promote the secondary circulation of tokenized funds on compliant platforms

China Asset Management: We will continue to launch more tokenized fund products in the future and promote the secondary circulation of tokenized funds on compliant platforms

PANews reported on July 4 that according to the financial sector, in the stablecoin ecosystem, some public fund Hong Kong subsidiaries are preparing intensively, among which China Asset Management participated

Author: PANews

2025/07/04

Bo Hines predicts U.S crypto industry will skyrocket to $20t in value after stablecoin bill passes

Bo Hines predicts U.S crypto industry will skyrocket to $20t in value after stablecoin bill passes

Executive Director of the President’s Council of Advisers on Digital Assets, Bo Hines, predicts the digital asset industry will see a $15 to $20t surge in value following the GENIUS Act’s legalization. In a recent interview, the Executive Director of…

Author: Crypto.news

2025/07/04

U.S. House declares July 14 ‘Crypto Week’ in advance landmark digital asset legislation

U.S. House declares July 14 ‘Crypto Week’ in advance landmark digital asset legislation

The U.S. House has announced July 14 will mark the beginning of a “Crypto Week” to advance key legislation on digital assets. The U.S. House of Representatives has officially designated the week of July 14 as “Crypto Week,” during which…

Author: Crypto.news

2025/07/04

Hong Kong poised to benefit from Singapore’s ‘crypto crackdown’: report

Hong Kong poised to benefit from Singapore’s ‘crypto crackdown’: report

Analysts say that Hong Kong could gain the upper hand in its expansion into a global crypto hub in the wake of Singapore’s regulatory crackdown on unlicensed firms in the region. A recent report by the South China Morning Post…

Author: Crypto.news

2025/07/04

Musk's "Utopia" is disillusioned

Musk's "Utopia" is disillusioned

Author: Zuo Ye So big, so beautiful, Musk chose a day to die. Trump is actually very nice to Musk. In March, under pressure from the United States, South Africa's

Author: PANews

2025/07/04

PANews June 2025 columnist influence and column article popularity rankings released

PANews June 2025 columnist influence and column article popularity rankings released

The PANews TOP 5 influential columnists and TOP 10 column article popularity rankings for June 2025 (hereinafter referred to as the "double rankings") were released today. We conducted a comprehensive

Author: PANews

2025/07/04

Stablecoin market cap unlikely to hit $2 trillion by 2028: JPMorgan

Stablecoin market cap unlikely to hit $2 trillion by 2028: JPMorgan

In a note to investors on Thursday, JPMorgan Chase estimated that the stablecoin market could reach $500 billion by 2028, a modest prediction compared to popular forecasts of a $1-$2 trillion market capitalization increase over the same period.

Author: Fxstreet

2025/07/04

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