Tempo, a blockchain focused on payments and backed by Stripe and Paradigm, has launched its public testnet. The platform aims to provide instant settlement and low fees, and has gained partnerships with firms like Mastercard and UBS. Tempo recently raised $500 million in a Series A funding round, boosting its valuation to $5 billion.

The article discusses x402, an open payment protocol by Coinbase that enables instant stablecoin transactions using the previously unused HTTP 402 code. This protocol allows websites, APIs, and AI agents to process payments without intermediaries, making microtransactions feasible and efficient.

Visa is enabling US banks to settle transactions using Circle's USDC stablecoin on the Solana blockchain. Cross River Bank and Lead Bank are among the first institutions to adopt this service, which reflects the changing regulatory landscape under the second Trump administration. Visa will also support Circle's upcoming Arc blockchain network.

Fidelity Investments is launching the Fidelity Digital Dollar (FIDD), a stablecoin based on Ethereum, to cater to both institutional and retail users. It will be backed by cash and U.S. Treasuries, adhering to the new GENIUS Act's reserve rules, and aims to facilitate 24/7 settlements and on-chain payments.

Cross River Bank has introduced a platform that combines stablecoin and fiat transactions in one system, allowing companies to move money efficiently across different networks. This service aims to simplify operations and enhance compliance for fintechs and businesses dealing with digital assets.

Western Union plans to introduce its own stablecoin, USDPT, in partnership with Anchorage Digital on the Solana blockchain. This move aims to enhance cross-border payments and compete with rapidly growing fintechs. The stablecoin is expected to benefit remittance receivers in unstable economies.

J.P. Morgan facilitated a short-term bond for Galaxy Digital Holdings using the Solana blockchain. This move signals increased institutional interest in digital assets, with Coinbase and Franklin Templeton purchasing the commercial paper. The transaction involved an on-chain USCP token and payments in USDC stablecoin.

Noble is transitioning to an EVM layer, aiming to enhance stablecoin infrastructure with sub-second transaction finality and permissionless deployment for developers. The new platform will support various applications, including a decentralized exchange for foreign currencies and managed vaults for yield optimization.

SoFi Bank has introduced SoFiUSD, a U.S. dollar stablecoin fully backed by cash at the Federal Reserve. Initially for internal use, it aims to streamline payments for banks and fintechs and offers potential for partners to create their own stablecoins.

Wyoming has officially launched the Frontier Stable Token (FRNT), the first blockchain-based asset backed by a U.S. state, utilizing the Solana blockchain. This state-issued stablecoin aims to provide public accountability and is designed to offer low-cost, efficient transactions while being backed by U.S. dollar reserves and short-duration U.S. Treasuries.

Japan's second-largest bank, SMBC, is set to launch its own stablecoin in collaboration with Ava Labs and Fireblocks, as reported by Nikkei. Experiments for the stablecoin are scheduled to begin in the latter half of 2025, aiming for a potential launch in 2026. This initiative seeks to enhance cross-border payment efficiency while reducing transaction costs.

Stripe has launched subscription capabilities for stablecoin payments, allowing businesses to accept crypto payments that settle directly in fiat. This new feature aims to streamline cross-border transactions and reduce costs for companies, particularly in the AI sector, by integrating stablecoin payments into their existing subscription models. Initially available in private preview for US-based businesses, it supports payments made in USDC over the Base and Polygon blockchains.

Societe Generale plans to become the first major bank to issue a publicly tradable, dollar-backed stablecoin named "USD CoinVertible". The stablecoin will be launched on the Ethereum and Solana blockchains, with public trading anticipated to begin in July through its digital asset subsidiary SG-FORGE.

Figure Technologies, a stablecoin issuer, successfully raised $787.5 million in its initial public offering, selling 31.5 million shares at $25 each. This move highlights the growing acceptance of digital assets in mainstream markets, driven by favorable regulatory conditions and increased corporate adoption.

Stripe has enhanced its payment platform by adding support for stablecoin subscription payments, allowing US-based businesses to process recurring transactions using digital assets like USDC. This feature, powered by a smart contract system, streamlines the payment process and addresses limitations associated with manual transaction approvals, ultimately reducing costs and improving efficiency for companies, especially in the AI sector.

Nine European banks, including ING and UniCredit, have collaborated to create a MiCA-compliant euro stablecoin, expected to launch in the second half of 2026. The consortium aims to provide a competitive alternative to US stablecoins, enhancing digital payment efficiency, cross-border transactions, and financial market infrastructure using blockchain technology. A new company will be established in the Netherlands to oversee the project under the supervision of the Dutch Central Bank.

Circle is set to launch Arc, an EVM-compatible Layer 1 blockchain that will use its USDC stablecoin as the native gas token. The announcement follows a strong Q2 performance, with revenue up 53% to $658 million, despite a net loss attributed to IPO-related charges.

Ant International, backed by Jack Ma, plans to integrate Circle's USDC stablecoin into its AntChain blockchain after meeting U.S. regulatory requirements. This partnership aims to enhance Ant's cross-border treasury and settlement services, potentially expanding USDC's reach to millions of users in various currencies.

PayPal is set to expand the utility of its stablecoin, PYUSD, by integrating it into the Stellar blockchain network, pending regulatory approval. This integration aims to enhance fast and affordable payments, remittances, and access to financing for small and medium-sized businesses through the use of PYUSD.

SoFi Technologies is set to reenter the crypto market, focusing on stablecoin issuance and tokenized loans, after pausing its crypto offerings two years ago. With favorable regulatory conditions under the Trump administration, SoFi aims to launch these services within the next two years, highlighting the financial advantages of blockchain technology.

Blockchain lender Figure Technology Solutions Inc. is set to go public this month, aiming to raise up to $526 million in an IPO that could value the company at $4.13 billion. Founded in 2018, Figure has expanded its offerings beyond home equity loans to include crypto-backed loans and is leveraging AI for loan evaluations, reporting significant revenue growth in recent months.

Societe Generale has announced plans to introduce a publicly tradable, dollar-backed stablecoin called "USD CoinVertible," making it the first major bank to enter the dollar-pegged cryptocurrency market. The stablecoin will be issued on Ethereum and Solana blockchains, with trading expected to commence in July through its digital asset subsidiary, SG-FORGE.

MetaMask's newly launched mUSD stablecoin has quickly increased its circulating supply to $65 million, a significant rise from $15 million just a week earlier. The stablecoin, backed 1:1 by dollar-equivalent assets, is primarily deployed on the Linea network. As the stablecoin market grows, mUSD's emergence follows recent regulatory developments in the U.S.