Key Points Ripple will continue to match XRP to potential users and launch new pilot programs in 2026. The chain's base of tokenized capital will also expand tremendously. But don't hold your breath for more digital-asset treasury activity. 10 stocks we like better than XRP › XRP (CRYPTO: XRP) might be down by 22% in the last 12 months, but there's plenty of reason to be hopeful for its performance in 2026. I predict three things in particular for this coin next year. Investors probably shouldn't ...

Photo by BeInCrypto Arthur Hayes has moved 508.647 ETH, worth roughly $1.5 million, to Galaxy Digital, sparking fresh speculation that the crypto veteran may be trimming exposure. The move is surprising because recently Hayes delivered one of his strongest bullish theses on Ethereum. Arthur Hayes Ethereum Sell Speculation On-chain data shows the transfer originated from a wallet linked to Hayes and landed at a Galaxy Digital deposit address. Transfers to institutional desks do not always signal an immedi ...

Key Points Ethereum has a new major upgrade coming in 2026. A lot of banks will likely start to use the chain. There's not much left in its domain in terms of credible competition. 10 stocks we like better than Ethereum › Ethereum's (CRYPTO: ETH) price is down 27% during the past 12 months, so many investors are eager for any bullish narrative that might suggest that things might be looking up for the cryptocurrency. Eventually, those better days will roll around. I also predict three important t ...

Visa now allows certain partner banks and fintechs to settle their obligations to Visa in USDC, rather than traditional bank transfers. Settling means “squaring the tab” at the end of the day between banks, card issuers, and Visa. Instead of waiting on slow, expensive bank wires, they can send USDC on-chain, and now they can do that on Solana, a fast, low-fee blockchain built for high transaction throughput.First, a quick definition. A stablecoin is a crypto token that tracks a real-world asset, usually the ...

When PayPal launched almost three decades ago, the company made its name as one of the world’s first fintechs. Now, PayPal faces a slew of competitors, from the payments colossus Stripe to Big Tech giants like Apple. “One of the challenges when you are at a certain scale and you’ve been around for a while is the very classic innovator’s dilemma,” Alex Chriss, the president and CEO of PayPal, told Fortune. “What you’ve done has worked, and are you constantly thinking about how to disrupt yourself?” Invest ...

宏观环境与市场表现脱节 - 比特币的宏观环境在2025年正在加强，但其市场价格却持续承压[1] - 全球债务高达340万亿美元，是全球GDP的三倍，且法定货币的增发预计将持续，这提升了比特币的长期价值[3] - 消费者对数字资产的兴趣正在上升，且华盛顿方面的监管清晰度正在推进[1] 市场参与者的行为与偏好 - 一项调查发现，四分之一的美国人计划使用加密货币购买节日礼物或将其赠予他人[2] - 各国央行持续增持黄金，但尚未大规模买入比特币[4] - 中国正推动金砖国家在贸易中减少美元使用，而Tether稳定币在政府证券的持有规模上已超过德国[4][5] 稳定币的崛起与地域性采用 - Tether稳定币不仅是大型比特币矿工和黄金买家，其持有的政府证券规模超过德国[5] - 拉丁美洲、非洲、东欧和部分亚洲地区的居民正在大规模采用稳定币，这通常也引导他们持有比特币[5] - 在一些新兴市场，由于对政府的不信任，人们增持美元或稳定币，同时减持美国证券[6]

Tether's Bitcoin reserves, USDT, Tether's USDT, Tether. Photo by BeInCrypto Tether’s USDT processed $156 billion in payments of $1,000 or less in 2025, according to figures shared today by CEO Paolo Ardoino, based on Chainalysis and Artemis data.  The number highlights a side of crypto adoption often missed by price charts and ETF flows – everyday transactional use. USDT is Being Used as a Substitute for Banks and Cash Small-value transfers now represent a meaningful share of USDT activity. The data show ...

Nuvei received approval to operate under the European Union’s new regulatory framework for cryptocurrency.By completing this form, you agree to receive marketing communications from PYMNTS and to the sharing of your information with our sponsor, if applicable, in accordance with our Privacy Policy and Terms and Conditions .Complete the form to unlock this article and enjoy unlimited free access to all PYMNTS content — no additional logins required.The Canadian payments got a Crypto-Asset Service Provider (C ...

文章核心观点 稳定币已从加密货币领域的一个细分产品，演变为处于支付基础设施、监管框架和政府融资交叉点的系统性重要金融工具 其通过提供即时、低成本的结算方案 正在重塑传统支付和银行业务模式 同时 其庞大的美国国债储备规模已能影响政府融资和利率曲线 随着监管框架的明确 稳定币正吸引主流金融机构大规模参与 成为金融基础设施变革的核心 支付基础设施与银行竞争 - 稳定币解决了传统跨境支付效率低、成本高的问题 例如电汇需3个工作日清算 而稳定币可实现即时、近乎零成本的结算[3][4] - 主要企业正进行战略布局 PayPal推出了自己的稳定币 Visa为USD Coin建立了结算基础设施 其稳定币结算能力已达到35亿美元的年化运行率 并推出了稳定币咨询业务[4][28] - 稳定币处理了巨额交易量 根据Andreessen Horowitz的报告 截至2025年 稳定币总交易量达46万亿美元 较上年翻倍[4] - 传统银行数十亿美元的支付处理费和浮存期收入受到威胁 摩根大通通过创建内部稳定币应对 据报道每日处理超过10亿美元[5] - 企业使用Tether等稳定币进行跨境结算 可在几分钟内完成 这改变了国际银行业务关系的核心价值主张 构成商业模式风险[6] 对美国国债市场与货币政策的影响 - 稳定币发行商需要安全、高流动性的资产作为储备 短期国库券成为首选 Tether在2025年第三季度持有1350亿美元的美国国债 成为全球第17大美国政府债务持有者 Circle在2025年第二季度持有约1270亿美元的国债[8] - 稳定币的采用直接增加了对政府债务的需求 形成了一种通过维持美元锚定的结构性要求来影响货币政策的反馈循环[9] - 美联储经济学家开始监控稳定币市值变化 因为大规模赎回可能迫使突然的国债抛售 从而影响政府借贷成本[10] - 稳定币储备高度集中于极短期限的国库券 这扭曲了国债需求 偏向收益率曲线前端 可能影响从抵押贷款利率到企业借贷成本的整个利率市场形态[11] 对银行业存款与金融服务的挑战 - 稳定币作为银行体系外的合成存款 具有持有价值、促进交易和兑付美元的功能 与银行形成竞争[12] - 稳定币为全球用户提供24/7的、无最低余额或地域限制的存款类功能选择 加剧了与银行存款的竞争[13] - 贝莱德推出代币化货币市场产品 表明资产管理公司看好这一趋势 若代币化美元产品吸引机构资金 将使银行吸收存款变得更加困难 进而影响其贷款能力和盈利能力[14] - 传统金融机构正在积极适应 例如纽约梅隆银行提供数字资产托管服务 高盛探索区块链结算[15] 监管框架与机构化发展 - 监管明确化是吸引机构资本的关键 《GENIUS法案》于2025年7月成为美国首部联邦稳定币法律 为标准渣打银行预测 到2028年可能推动稳定币市值达到2万亿美元[17] - 一旦稳定币在类似于电子货币的联邦框架下运作 采用障碍将大幅降低 合规、风控和财务部门都能批准和使用它们[18] - 监管明确创造了除持有代币以外的投资机会 基础设施提供、托管解决方案、合规技术和集成服务等都成为可行的业务线[19] - 稳定币为机构提供了一个无需承担方向性加密货币风险的参与数字资产的切入点 是进入区块链基础设施的受控入口[23] - 机构从使用稳定币支付开始 逐步积累内部专业知识和技术经验 为更广泛的区块链应用采用铺平道路[24][25] 市场规模与未来趋势 - 稳定币市场在2025年12月突破3090亿美元 较2025年1月的2050亿美元增长50.95%[26] - 当前市值仅占可寻址机会的一小部分 理论上 用于支付、短期储蓄或国际转账的每一美元都可能转向稳定币[26] - 下一阶段可能涉及央行数字货币与私人稳定币的竞争 以及大型零售商推出自己的美元代币[27] - 华尔街的早期布局是基于对基础设施转型的识别 那些为稳定币处理大量支付的世界做好准备的机构将获得难以复制的优势[29]

Uniform Labs, a blockchain infrastructure company founded by former Standard Chartered, UniCredit and other digital banking executives, has put its institutional liquidity protocol Multiliquid into production following build, audit and testing phases, the company said in a press release Wednesday. Multiliquid is designed to allow institutions to swap instantly, around the clock, between blue-chip tokenized money market funds and stablecoins, aiming to remove the days-long redemption lags and liquidity con ...