Stablecoins

Australia’s ASIC has exempted intermediaries from needing extra licences to distribute stablecoins from licensed issuers until June 2028. Catena Digital’s AUDM stablecoin is the first to benefit, allowing easier trading, advice, and custodial services.

South Korea has launched its first won-backed stablecoin, KRW1, on the Avalanche blockchain, fully backed by Woori Bank with real-time reserve verification. The coin is aimed at payments, remittances, and public programs, as regulators prepare rules to safely govern stablecoins in the country.

Sui has partnered with Google to allow AI agents to make stablecoin payments automatically using its blockchain. The news boosted SUI’s price and trading, while the network also released developer tools and may see further growth from a planned SUI-based ETF.

Google has unveiled a groundbreaking open-source protocol that allows artificial intelligence (AI) applications to send and receive payments — including stablecoin transactions — marking a major step in merging crypto with the AI-powered digital economy.

Bitwise has asked US regulators to approve an exchange-traded fund that invests in both stablecoin companies and crypto assets. The plan follows a surge in stablecoin supply and tokenised assets this year, aiming for a launch before the end of 2025 if the SEC agrees.

Yala’s Bitcoin-collateralized stablecoin YU has suffered its biggest stress test to date, after an exploit attempt over the weekend sent its price crashing to $0.2046—a staggering 80% devaluation that has shaken investor confidence and raised urgent questions about the project’s cross-chain security and liquidity depth.

Major Chinese tech firms, including Alibaba and Tencent, appear to be pulling back from Hong Kong’s cryptocurrency market, with none applying for recent stablecoin licences. The move comes amid regulatory uncertainty and a reported shift in focus toward digital services for the energy sector.

China is moving to impose strict restrictions on its state-owned enterprises (SOEs) and banks operating in Hong Kong, in a move that could significantly reshape the city’s budding stablecoin sector.

Kyrgyzstan has made one of its boldest moves yet in the digital asset space, passing sweeping amendments to its “On Virtual Assets” bill that pave the way for a state cryptocurrency reserve and formalize government-led mining operations.

Binance, the world’s largest crypto exchange, has officially listed Ethena’s USDe for spot trading, opening trading pairs with both USDC and USDT on September 9, 2025.