Stablecoins

[pmbug]

As the USA gets closer to finalizing the GENIUS Act for stablecoin regulation, things must be getting serious. The BIS put out a new report casting shade on stablecoins:

A new report from the Bank for International Settlements (BIS) challenged the notion that stablecoins can serve as money in a modern financial system.

According to the BIS Annual Economic Report 2025, stablecoins fail the fundamental tests of “singleness,” “elasticity” and “integrity,” three critical criteria that define effective monetary instruments.

The BIS described stablecoins as “digital bearer instruments” that resemble financial assets more than actual money. “Stablecoins perform poorly when assessed against the three tests for serving as the mainstay of the monetary system,” the report said.
...

More:

https://cointelegraph.com/news/stablecoins-fail-money-bis-report

 

[searcher]

Why Companies Like JP Morgan And Visa Are Creating Crypto Tokens​

Jun 28, 2025 #CNBC
Mainstream financial companies from JP Morgan to Visa are creating their own crypto currencies, known as stablecoins. Market analysts predict they could disrupt the credit card industry. Watch the video to learn why corporate giants are racing to launch their own crypto tokens.


12:31

Chapters:
0:00 Introduction
1:48 The corporate embrace
7:06 Crypto risks
8:53 Regulation pushes ahead

 

[nickndfl]

If the USA does not make itself the crypto capital of the world, China will.

 

[searcher]

Stablecoin issuer Circle applies for a national bank charter​

• Circle Internet Group submitted a bank charter application to the Office of the Comptroller of the Currency. Circle is the issuer of the USDC stablecoin.
• The firm hopes to establish a national trust bank, which will be named First National Digital Currency Bank, N.A.
• Anchorage Digital is the only other crypto company to obtain such a license.

Stablecoin issuer Circle Internet Group has applied for a national trust bank charter, moving forward on its mission to bring stablecoins into the traditional financial world after the firm’s big market debut this month, CNBC confirmed.

Shares rose 1% after hours.

If the Office of the Comptroller of the Currency grants the bank charter, Circle will establish the First National Digital Currency Bank, N.A. Under the charter, Circle, which issues the USDC stablecoin, will also be able to offer custody services in the future to institutional clients for assets, which could include representations of stocks and bonds on a blockchain network.

More:

https://www.cnbc.com/2025/06/30/stablecoin-issuer-circle-applies-for-a-national-bank-charter.html

 

[pmbug]

The Wyoming Stable Token Commission has launched the Frontier Stablecoin Token (FRNT) as the first dollar-pegged stablecoin issued by a US state government, which can be used for real-world transactions, according to a statement shared on Monday.

The Commission, created through the Wyoming Stable Token Act in 2023, provides governance and regulatory oversight for Wyoming’s pioneering stablecoin project.

As noted in the release, FRNT is built on Avalanche and stands out from other stablecoins as Wyoming law requires it to be overcollateralized, maintaining 102% reserves in short-term US Treasuries and dollars.

In addition to Avalanche, the token has been deployed on six other blockchains, including Arbitrum, Base, Ethereum, Optimism, Polygon, and Solana, according to the product page.
...

Wyoming launches Frontier Stable Token FRNT on Ethereum, Solana, Avalanche, and more

Wyoming stablecoin launch introduces FRNT, the first US state-issued, overcollateralized stablecoin, available on major blockchains.

cryptobriefing.com

I was looking over the FRNT product page and it says:

...
FRNT is anticipated to be available for public purchase in September 2025.
...
The Commission does not anticipate selling FRNT directly to the public. Instead, FRNT will be available for purchase through a network of authorized resellers that complete a robust "Know Your Business" review by the Commission.
...