US Bancorp, Klarna, S&P Global Ratings, Tether, Amundi and more are making waves in the market. Here is what you need to know in 30s.

Corporate treasurers move more than $23 trillion dollars across borders every year, equivalent to a quarter of global GDP. Yet the underlying infrastructure that supports this flow is outdated, fragmented and expensive. The result is a cost burden of roughly $120 billion dollars per year on cross-border payments alone per JPMorgan’s report .  These costs are fed through multi-layered correspondent banking chains, trapped liquidity, opaque FX spreads, time-zone driven delays a

Contrary to popular narrative, stablecoins are not a threat to banks’ large corporate transaction-banking businesses. Tokenized bank deposits from JPMorgan , Citi , HSBC  and DBS already offer 24/7 programmable and multi-FX money movement to the largest corporates in the world. And more products with better connectivities are in the works from banks. But disruption to banking due to stablecoins and onchain finance is happening. And it is happening already in consumer banki

Top institutional tokenization developments you need to know...

According to the latest Artemis report , stablecoin payments volume has grown +70% from an annual run-rate of $72B in Feb 2025 to $120B in Aug. And stablecoin-linked card payments have emerged as a main payment category with $10B annually .  The appeal is simple: users want to spend digital dollars in the real world , seamlessly, via Visa or Mastercard rails.  In fact Visa has made stablecoin card payments a digital asset priority. On its Q3 2025 earnings call, Visa has revea

The future of digital assets is being shaped today. Here are the top developments you need to know to stay updated this week 👇  1️⃣ Citadel and Fortress Investment Group take $500M stake in Ripple at $40B valuation Ripple has secured $500 million from Ken Griffin’s Citadel Securities and Fortress Investment Group, valuing the firm at $40 billion, a clear signal that Wall Street’s elite are betting on the future of onchain finance.   Details & analysis here . 2️⃣ Standard Cha

JPMorgan, Citi, Mastercard, Coinbase are all making big moves in digital assets... What happened? Find out here.

CNBC recently reported that OnePay Cash , majority owned by Walmart and fully integrated with Walmart’s digital and physical channels, is launching crypto trading and custody via partnership with Zerohash, a crypto infrastructure firm. And that users will be able to pay using crypto at Walmart. This move isn’t about speculation. It signals a broader transformation where consumer fintechs and large retailers are merging into a single ecosystem: one that blends commerce, bankin

Digital assets and tokenization are expected to revolutionize the global financial system and enable new capabilities, liquidity, and opportunity for financial services firms. Most people think if blockchain can enable real-time DvP technologically, then institutions can just plug in, click YES and we have tokenized markets in securities lending, margin collateral, and repo. Unfortunately that is NOT how things work. Blockchain is the technology unlock. But we need unlocks ac

Citi Institute published its annual stablecoin report. It has done such a great job at articulating the digital money revolution, I am going to dedicate this Weekly Research note to unpacking and contextualizing its top 3 takeaways. Instead of reading all 54 pages, here’s 3 key highlights distilled into 3 mins for you: Stablecoins may be especially useful for digital-native firms, retail users, and frontier markets. For developed markets where instant payments already exist,

Welcome to Part 2 of the Why Tokenized Deposits Are a MUST for Every Bank  series. Stablecoins have proven to be  a powerful digital innovation for cross-border payments , especially in emerging market corridors where banking and payment infrastructure is underdeveloped. But they also pose a serious risk to traditional banking. The U.S. Treasury Borrowing Advisory Committee has warned that as much as $6.6 trillion or around 40% of U.S. retail deposits could migrate into stabl

Stablecoin could pull $6.6T deposit out of the banking system. This is an extinction level threat. Time for banks to get competitive. Here is how.

While the headline out of Washington last week was the SEC’s SuperApp policy framework , the quiet story that flew under the radar was Circle President Heath Tarbert’s visit to Korea - meeting with the central bank governor, the country’s largest banks, and top exchanges. Why does this matter? I’ve been saying for some time: the future of stablecoins is multi-currency. With Korea’s Digital Assets Basic Acts (DABA), a regulatory framework equivalent to the U.S. GENIUS Act, nea

Circle, the largest regulated USD stablecoin issuer, posted blockbuster Q2 2025 results last week: USDC supply: +90% YoY Revenue: +53% YoY Adjusted EBITDA: +52% YoY Launching Arc, a payment-focused and privacy-enabled Layer-1 blockchain But buried beneath the headlines is the real strategic move of the quarter: the launch of the Circle Payments Network (CPN) . CPN is Circle’s global regulated stablecoin clearing solution . It combines: Cross-border orchestration with cross-ch

Last week we broke down 4 (Coinbase, Robinhood, Block and CME Group) of the top 8 US public companies with significant digital asset revenue in the exchange business and the powerful underlying business growth trend.  This week, we shift the spotlight to the other 4 leaders driving revenue through Stablecoins, Asset Management, and Bitcoin Treasury  strategies. Here’s what we’ll unpack: How big are they? What trends are driving growth? Who’s likely to join them next? Let’s d

According to projections from Standard Chartered, BCG, and others, the stablecoin market is on track to reach $1T–$3T  in the next five years. That’s $750B–$2.75T  in fresh USD inflow waiting to be onboarded from fiat into stablecoins.  Now ask yourself: What’s a great business to be in when that much money wants to move onchain? One that takes a 2% fee  on every transaction across that flow. Welcome to the onramp game. It’s no surprise then that fiat onramps have already bir

“Faster and cheaper than SWIFT” - that’s the tagline often used to champion stablecoins in cross-border payments. But it's the wrong comparison. Nearly 55% of SWIFT’s volume  comes from high-value interbank settlements , not the kind of low-value, high-frequency transactions that power global commerce for SMEs and consumers. SWIFT was built in the post-WWII era to connect banks across major trade corridors, such as the US, UK, Europe, and Asia, facilitating booming cross-bord

Four major economies have passed or are in the process of passing stablecoin legislations, including: US - GENIUS Act EU - MiCAR UK - FCA framework Hong Kong - Stablecoin Ordinance At first glance, these regimes share common pillars: full reserve backing, high-quality liquidity requirements, and redemption guarantees. But dig deeper, and differences emerge, especially in how they treat foreign issuers  and non-local currency stablecoins . These differences carry major implica

Stablecoin news is non-stop, from corporate experiments to regulatory debates. But if you're building a real business  around stablecoins, how do you cut through the noise and zero in on signals that drive customers and revenue ? In a previous piece, I wrote that stablecoin  payment use cases are concentrated in cross border money movement . But that’s still a broad category. So here’s the real question: How do you narrow it down to addressable customers  with urgent problems

Stablecoins are the hottest trend in fintech and for good reason. The headline numbers are staggering: Market size exploded from <$10B to $239B in just five years 30M+ monthly active wallets are now sending or receiving stablecoins Transaction volume ranges from $5T to $26T annually, depending on methodology But here’s the key question I’ve always asked: How much of that volume actually comes from real payments use cases (B2B, B2C, P2P, Card) instead of trading and exchange a