Tag: Stablecoin

Solstice Taps Chainlink, Ceffu for Solana-Based USX Stablecoin Launch

Key Notes The new USX token will utilize Chainlink’s CCIP technology for seamless transfers between different blockchain networks. Institutional traders will benefit from off-exchange settlement options through Ceffu and Copper custody partnerships. Solstice’s synthetic dollar-pegged token represents growing institutional adoption within the Solana ecosystem. DeFi protocol Solstice Finance has announced strategic partnerships with data provider Chainlink LINK $21.70 24h volatility: 0.2% Market cap: $14.70 B Vol. 24h: $840.34 M and custody firms Ceffu and Copper. The collaborations are intended to support the upcoming launch of USX, a new stablecoin built…

Hyperliquid launches USDH stablecoin issued by Native Markets

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Hyperliquid’s native stablecoin, USDH, launched on Wednesday with a USDC trading pair, logging nearly $2 million in early trading. With USDH now live, Hyperliquid has its first dollar-pegged asset, giving traders a stable unit of account and collateral across the network. Native Markets will manage the exchange’s stablecoin and oversee billions of dollars in potential flows. The crypto startup, led by Hyperliquid investor Max Fiege, former Uniswap Labs president Mary-Catherine Lader and blockchain researcher Anish Agnihotri, was selected through a validator vote on Sept. 14. According to Native Markets’ original proposal,…

Ethena Price Jumps 5% as Kraken Teases USDe Stablecoin Listing

Key Notes Kraken exchange announced upcoming USDe stablecoin listing for US regulated markets to 1.7 million followers. USDe captured 4.5% of global stablecoin market with $14.4 billion market cap at press time. Technical analysis shows ENA consolidating near $0.58 support with potential resistance at $0.68 level. Ethena ENA $0.60 24h volatility: 2.6% Market cap: $4.17 B Vol. 24h: $403.46 M is a synthetic dollar protocol built on the Ethereum blockchain. Its native token ENA drew attention on Tuesday, Sept. 23, after staging a 5% intraday rally despite prevailing bearish sentiment…

Polkadot’s Largest DeFi Protocol Hydration Launches Decentralized Stablecoin

Key Notes The new stablecoin uses the HOLLAR Stability Module for automated price support and partial liquidations. Polkadot founder Gavin Wood endorsed the launch, preferring it over centralized alternatives like USDC. Four specialized liquidity pools will be created outside Hydration’s Omnipool for enhanced trading venues. Hydration, a primary protocol in the Polkadot ecosystem, has launched HOLLAR, a decentralized stablecoin designed to address existing market weaknesses. The release, announced on September 22, completes Hydration’s vision to combine trading, lending, and stable value storage on its dedicated app chain. HOLLAR operates as…

PayPal Ventures Backs Bitfinex-Linked Stablecoin Project

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Stable, an institutional-grade stablecoin blockchain backed by cryptocurrency exchange Bitfinex, is integrating a stablecoin built by major online payment platform PayPal. PayPal Ventures has made a strategic investment in Stable to bring PayPal USD (PYUSD) stablecoin onto the Stablechain, according to an announcement by Stable on Monday. “This work with Stable reflects our commitment to expanding PYUSD’s utility across multiple blockchain ecosystems and driving adoption,” PYUSD ecosystem head David Weber said, highlighting Stable’s focus on fast and seamless financial transactions. The news came about two months after Stable emerged from…

Chainlink & SOOHO.IO Launch KRW Stablecoin FX for Tourists

Key Notes SOOHO.IO and Chainlink have launched Project Namsan, a Korean won stablecoin initiative for foreign exchange. The project uses Chainlink’s CCIP for interoperability and Proof of Reserve to verify stablecoin collateral. A live pilot with Grand Korea Leisure allows tourists to use USD stablecoins for KRW-denominated digital voucher payments. SOOHO.IO, a blockchain technology firm, has partnered with Chainlink LINK $21.47 24h volatility: 7.3% Market cap: $14.55 B Vol. 24h: $1.29 B to launch Project Namsan, a new initiative focused on the Korean won (KRW) stablecoin ecosystem. The project is…

China Launches First Stablecoin, Crypto Adoption Spikes as Best Wallet Gains Attention

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The AxCNH, a Chinese Yuan-pegged stablecoin issued by AnchorX, was officially launched on September 17, 2025 in Hong Kong. BDACS also launched KRW1, a South Korean Won-pegged stablecoin, the following day. Why do these moves matter? Because the crypto race is heating up. While America’s new federal stablecoin framework (the GENIUS Act in 2025) sets strict issuance and transparency rules, countries like Hong Kong and South Korea are also accelerating regulatory frameworks to oversee stablecoin activity. Retail users also stand to gain. Putting fiat on-chain enables near-instantaneous 24/7 cross-border settlement…

First China Stablecoin Launches Amid Digital Geopolitical Race

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The first regulated stablecoin tied to the international version of the Chinese yuan (CNH) meant for foreign exchange markets, and a South Korean won (KRW) stablecoin launched this week as the global stablecoin race heats up. Financial technology company AnchorX debuted its AxCNH yuan-pegged stablecoin on Wednesday at the Belt and Road Summit in Hong Kong, according to Reuters, following a regulatory pivot in China embracing stablecoins for international markets. The stablecoin is meant to facilitate cross-border transactions with countries in the Belt and Road initiative, an infrastructure project building…

YZi Labs Deepens Stake in Stablecoin Issuer Ethena

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Tech-focused venture capital firm YZi Labs has increased its stake in Ethena, the stablecoin issuer behind USDe, which will assist the digital dollar’s adoption across decentralized and centralized platforms. The investment will assist Ethena USDe’s (USDe) expansion on BNB Chain while enabling Ethena to continue building its USDtb stablecoin and an institutional settlement layer, “Converge,” Changpeng Zhao’s YZi Labs said in a statement on Friday. USDtb is backed by short-duration treasury assets, including BlackRock’s BUIDL, while Converge is an Ethereum Virtual Machine-compatible chain focused on tokenizing real-world assets. The move…

YZi Labs Expands Ethena Labs Stake as USDe Stablecoin Surges Past $14 Billion

Key Notes Investment firm formerly known as Binance Labs strengthens position in synthetic stablecoin provider amid sector growth. Funding will drive USDe adoption through exchange partnerships, BNB Chain expansion, and institutional settlement solutions. ENA token experiences 24% decline from recent highs despite strategic backing, trading around $0.67 currently. YZi Labs, formerly Binance Labs, a major digital asset investment firm, announced today, September 19, that it has boosted its stake in Ethena Labs following the rapid expansion of Ethena’s synthetic stablecoin, USDe, which recently surpassed $14 billion in market capitalization. The…