Global #stablecoins.

Stablecoins are seeing a massive surge in activity, with monthly on-chain volume reaching a record high of over $1.5 trillion in July.

Coinbase and PayPal are continuing to offer annual returns of 3%-5% on stablecoins, even after the new GENIUS Act was signed into law on July 18, 2025.

On August 1, 2025, the Hong Kong Legislative Council officially enacted the Stablecoin Regulation, establishing a comprehensive licensing and regulatory framework for stablecoin issuers.

Hong Kong has officially implemented its Stablecoin Bill, a new law effective August 1, 2025, that introduces a formal licensing system for fiat-referenced stablecoin issuers.

Visa is significantly expanding its support for cryptocurrency settlements by integrating new stablecoins and blockchains.

The White House has released its first official federal report outlining the U.S. government's approach to Bitcoin and crypto regulation, spearheaded by the President's Working Group on Digital Asset Markets.