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Stablecoin

Cloudflare bets on NET Dollar stablecoin for global AI transactions

by admin September 25, 2025

Cloudflare is launching its NET Dollar stablecoin to serve as the fundamental payment layer for autonomous AI agents, enabling them to execute microtransactions at internet scale and speed.

Summary

Cloudflare unveiled NET Dollar, a U.S.-backed stablecoin designed to power payments for autonomous AI agents.
The stablecoin targets instant, global microtransactions, aiming to replace slow, costly legacy systems.

According to a press release dated Sept. 25, the infrastructure giant plans to introduce NET Dollar, a U.S. dollar-backed stablecoin designed specifically for the “agentic web.” Cloudflare bills the new digital currency as critical financial infrastructure for an internet where AI agents routinely conduct business on behalf of users.

The company’s rationale hinges on the belief that legacy banking systems and even first-generation crypto payments are too slow and costly for the emerging machine-to-machine economy.

A stablecoin built for the AI agent economy

Cloudflare believes its global network, which already accelerates and secures a significant portion of internet traffic, is the ideal foundation for a payment system that must operate across countless currencies, geographies, and time zones without friction.

“By using our global network, we are going to help modernize the financial rails needed to move money at the speed of the Internet, helping to create a more open and valuable Internet for everyone,” Cloudflare CEO and co-founder, Matthew Prince, said.

According to the company, NET Dollar will enable instant, automated settlements for everything from paying an API for real-time flight bookings to compensating a supplier as quickly and reliably as the data is transmitted.

Prioritizing the AI-driven internet is a direct response to what Prince calls the limitations of the old web’s business model. He argues that decades of reliance on ad platforms and slow bank transfers have stifled innovation for creators and developers.

The company sees the rise of autonomous agents as the catalyst for a fundamental shift toward a pay-per-use internet. In this model, value is exchanged in tiny, incremental payments for specific services, a model legacy financial rails are structurally incapable of supporting due to speed and cost constraints.

Eyeing the bigger picture

Cloudflare is not operating in a vacuum. Its strategy acknowledges that interoperability is paramount. The company has announced it is contributing to open standards such as the Agent Payments Protocol and x402.

This places it alongside other major infrastructure players, notably Google, which is pioneering its own Agentic Payments Protocol (AP2). The parallel development of these protocols underscores a broader industry consensus: the agentic web requires a universal payment layer.

Google’s recent demo with Coinbase and Lowe’s, where an AI agent managed a complex home improvement purchase from consultation to stablecoin payment, serves as a proof-of-concept for this very future.

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September 25, 2025 0 comments

A trader in front of screens. (sergeitokmakov/Pixabay/Modified by CoinDesk)

GameFi Guides

Stablecoin Market Could Reach $4 Trillion by 2030, Citi Says in Revised Forecast

by admin September 25, 2025

The stablecoin market is expanding faster than expected, with issuance volumes rising from about $200 billion at the start of 2025 to $280 billion as of Thursday, according to a report by Citi.

The bank has lifted its 2030 forecast for stablecoin issuance to $1.9 trillion in its base case and $4 trillion in a bull case, up from $1.6 trillion and $3.7 trillion respectively.

If stablecoins circulate at a velocity comparable to fiat currencies, they could support up to $100 trillion in annual transactions by 2030 under the base scenario and double that in the bull case. Citi argued this growth reflects blockchain’s “ChatGPT moment” as digitally native companies lead adoption in real-world commerce.

Yet the report suggests stablecoins may not dominate all on-chain finance. Bank tokens — such as tokenized deposits — could ultimately see higher transaction volumes, driven by corporate demand for regulatory safeguards, real-time settlement and embedded compliance. A small migration of traditional banking rails on-chain, Citi estimated, could push bank token turnover beyond $100 trillion by the end of the decade.

The forecast also underscored the continued role of the U.S. dollar. Most on-chain money remains dollar-denominated, fueling demand for Treasuries, though hubs like Hong Kong and the UAE are emerging as centers of experimentation.

Citi framed the rise of stablecoins not as a battle to replace banks but as part of a broader reimagining of financial infrastructure. Different forms of digital money — stablecoins, bank tokens and CBDCs — are likely to coexist, each finding its niche.

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September 25, 2025 0 comments

GameFi Guides

Hong Kong Monetary Authority (HKMA) Warns Against Unregulated Stablecoin Issuance

by admin September 25, 2025

The Hong Kong Monetary Authority (HKMA) warned investors it has not approved any stablecoin issuers, labeling the marketing of such products as illegal, the SCMP reports.

The statement came after Hong Kong-based AnchorX announced the introduction of AxCNH, a stablecoin pegged to the offshore Chinese yuan. The company said it held a license from Kazakhstan’s Astana Financial Services Authority and that the coin would support cross-border payments and tokenized real-world assets, according to the SCMP.

In a statement on its official WeChat channel, the HKMA said no entity had been licensed to issue stablecoins in the city and advised the public to remain cautious.

This marks the first test of Hong Kong’s new stablecoin rules, which came into effect in August. Under the regime, stablecoin issuers must meet stringent standards around licensing, capital, and governance.

The timing of the warning is notable. China’s own securities regulator recently urged brokerages to pause real-world asset (RWA) tokenization activity in Hong Kong, citing risk management concerns.

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September 25, 2025 0 comments

Crypto Trends

South Korea’s Naver Financial ‘Discussing’ Upbit Stock Swap, Eyeing Stablecoin Market

by admin September 25, 2025

In brief

South Korean internet giant Naver is in talks over a share swap with Upbit operator Dunamu.
Naver’s filing confirmed talks on a share exchange and stablecoin projects were taking place, but said no terms are finalized.
The move builds on a July KRW stablecoin plan with Dunamu, ahead of new legislation expected in October.

South Korean internet giant Naver Corporation is in talks with crypto exchange Upbit operator Dunamu over a possible share swap that could bring the country’s largest exchange under the Naver group.

Naver shares rose as much as 11.4% on Thursday, per Google Finance data, after local outlet Chosun reported the companies had agreed to a comprehensive stock swap.

The report described a deal that would make Dunamu a subsidiary of Naver Financial, the group’s fintech arm, giving the tech giant direct control of Upbit and positioning it for a deeper move into crypto markets.

Naver filed a disclosure with the Korea Exchange addressing reports that it had agreed to a share swap with Dunamu, operator of Upbit. In the filing, Naver stated that it is “discussing various forms of cooperation with Dunamu, including the possibility of a share exchange as well as projects involving “stablecoins and unlisted stock trading.”

No additional details or methods have been finalized, but Naver has committed to re-disclose within a month or once specific terms are confirmed. In a statement shared with Decrypt, a Dunamu spokesperson said that, “Beyond discussions on stablecoins and unlisted stock trading platform, Dunamu and Naver Pay are exploring a range of additional collaborations,” adding that, “No further details or specific agreements have been finalized at this time.”

Naver and Dunamu

The talks build on a partnership announced in July when Naver Pay and Dunamu revealed plans for a KRW stablecoin.

That project positioned Naver as lead issuer with Dunamu in a supporting role, marking one of the first attempts to create a large-scale won-backed token ahead of new legislation. Earlier this month, Dunamu unveiled that it had been working on a custom Ethereum layer-2 blockchain called “GIWA” designed to open up new infrastructure for stablecoins and payments.

South Korean lawmakers are expected to table a stablecoin bill in October that would clarify issuer requirements, reserve rules, and audit standards. Major stablecoin players Tether and Circle have taken meetings with top executives from the country’s financial groups as early as August.

If the deal is completed, Naver would be the first major South Korean platform to fully integrate an exchange into its financial ecosystem. The company already dominates search, messaging, and payments in South Korea, and adding Upbit could accelerate cross-selling of its financial verticals, stablecoin adoption, and new trading products.

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September 25, 2025 0 comments

GameFi Guides

Sui partners with t’order for commercial stablecoin payments in South Korea

by admin September 25, 2025

South Korea’s largest table ordering service t’order has chosen the Sui blockchain to jointly develop a stablecoin infrastructure for commercial applications nationwide by leveraging the company’s extensive network.

Summary

t’order partners with Sui to launch a stablecoin payments system across 300,000 point-of-sale devices in South Korea.
The platform will use an upcoming won-pegged stablecoin that will be deployed on Sui.
Decentralized storage protocol Walrus will store transaction data.

Sui network announced the partnership via a Sep. 24 blog post, and said the collaboration will integrate t’order’s advanced QR code and facial recognition technologies to make everyday stablecoin payments more seamless.

t’order is South Korea’s largest point-of-sale ordering platform that processes over $4.3 billion in transactions annually. The company has long championed zero-fee payments for small businesses, and by integrating stablecoins, it hopes to replace costly card fees with faster, more affordable digital settlement.

According to Sui Foundation’s Managing Director, Christian Thompson, the collaboration is expected to target South Korea’s food service market, which is valued at roughly 190 trillion KRW, and “improve the consumer experience for millions in Korea.”

“The mass adoption arc for stablecoins and crypto payments is rapidly accelerating, and it’s thrilling to see Sui at the forefront of this trend with innovative partners like t’order,” Thompson said.

The upcoming platform will be powered by a won-pegged stablecoin deployed on the Sui network. However, the announcement did not disclose a specific launch timeline or the name of the issuing entity.

All transaction and loyalty data would be stored on Walrus, a decentralized storage protocol built on the Sui blockchain.

Once live, the stablecoin payments, rewards, and settlement system would be available across t’order’s nationwide network of over 300,000 point-of-sale devices.

“Our Partnership with Sui is the next step in that vision, leveraging our unique nationwide deployment capabilities and real-time infrastructure to create a new payment and settlement paradigm –one designed for and centered around small businesses,” a t’order spokesperson was quoted as saying.

SUI, the native token for the Sui network, did not immediately react to the news, and was down 3.4% in the past 24 hours, continuing its downtrend that began on Sep. 18.

South Korea’s growing appetite for stablecoins

Stablecoins have become a key focus area in South Korea over the past year as the nation pushes to develop a domestic digital asset ecosystem that reduces reliance on dollar-pegged tokens like USDT and USDC.

In recent months, local firms and financial institutions have accelerated efforts to issue won-based stablecoins, most notably with the launch of KRW1, a fully backed won-pegged token issued on the Avalanche blockchain.

At the same time, South Korean regulators have already kicked off efforts to finalize a legislative framework to regulate stablecoin issuance and operations in the country. A new bill set to be unveiled in October is expected to outline requirements around collateralization, internal controls, and issuer transparency.

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September 25, 2025 0 comments

Crypto Trends

UniCredit, ING Among 9 Banks Launching Euro Stablecoin

by admin September 25, 2025

A group of major European banks have joined forces to launch a euro-pegged stablecoin in compliance with Europe’s Markets in Crypto-Assets (MiCA) framework.

Dutch lender ING and Italy’s UniCredit are among nine banks participating in the development of a new euro-denominated stablecoin, according to a joint statement published by ING on Thursday.

Built in compliance with Europe’s MiCA regulation, the stablecoin is planned to be issued in the second half of 2026, with a mission to become a trusted European payment standard in the digital ecosystem.

The announcement notes that the initiative aligns with Europe’s plans to provide a local alternative to the US-dominated stablecoin market, contributing to its strategic autonomy in payments.

Banks from eight EU member states initially involved

Alongside ING and UniCredit, the European stablecoin initiative also includes Spain’s CaixaBank, Denmark’s Danske Bank, Austria’s Raiffeisen Bank International, Belgium’s KBC, Sweden’s SEB, Germany’s DekaBank and another Italian lender, Banca Sella.

The founding members have also established a new company headquartered in the Netherlands, ING’s home country, to oversee the development and management of the stablecoin.

The banking consortium said in the joint announcement that it remains open to other banks joining the stablecoin project.

24/7 access to cross-border payments

According to the statement by ING, the projected euro stablecoin is expected to provide “near-instant, low-cost payments and settlements,” enabling 24/7 access to cross-border payments.

The stablecoin is also set to offer programmable payments and improvements to supply chain management and digital asset settlements, which can vary from securities to cryptocurrencies.

“Digital payments are key for new euro-denominated payments and financial market infrastructure,” said Floris Lugt, ING’s digital asset lead and joint public representative for the project.

“We believe this development requires an industry-wide approach, and it’s imperative that banks adopt the same standards,” he added.

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September 25, 2025 0 comments

Crypto Trends

Coinbase CEO Drops Key Update on New Stablecoin Listings

by admin September 24, 2025

In a recent tweet, Coinbase CEO and cofounder Brian Armstrong has revealed the crypto exchange’s decision to list two new local stablecoins: AUDD and XSGD.

Coinbase will be listing two local currency stablecoins: AUDD and XSGD. These would be the first AUD- and SGD-denominated stablecoins on Coinbase.

Coinbase is listing two new local stablecoins:

🇦🇺 AUDD
🇸🇬 XSGD

Local stablecoins will drive local crypto business growth and help to onboard many more new people to crypto. pic.twitter.com/ZFDX1y4A5O

— Brian Armstrong (@brian_armstrong) September 24, 2025

AUDD is an Australian Digital Dollar issued by AUDC Pty Ltd, a fiat-backed stablecoin designed to be redeemable 1:1 for AUD and built for institutional-grade, programmable finance.

XSGD, a fiat-backed stablecoin, is issued by StraitsX. XSGD has been acknowledged by the Monetary Authority of Singapore (MAS) to be compliant with the upcoming Single Currency Stablecoin (SCS) regulatory framework.

On Sept. 29 at 7:00 p.m. UTC, the two new fiat-backed local currency stablecoins, AUDD and XSGD, would go live on Coinbase. From this date, XSGD and AUDD will be available on Coinbase.com and the Coinbase mobile app.

Coinbase CEO reacts

Coinbase CEO Brian Armstrong weighs in on the new stablecoin listings, noting it is essential for crypto business growth and adoption.

According to Armstrong, local stablecoins are essential to drive local crypto business growth and help to onboard many more new people to crypto. Thanks to Coinbase’s listing, users in Australia and Singapore, respectively, will be able convert from AUD to AUDD and SGD to XSGD for free.

Coinbase noted that the listing move remains integral to its mission to onboard one billion people to crypto, enabling users to transact seamlessly in familiar currencies without the friction of foreign exchange volatility.

According to CoinMarketCap data, the stablecoin market is currently valued at $307 billion, with analysts predicting this asset class to be worth $2 trillion in the years to come.

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September 24, 2025 0 comments

GameFi Guides

Coinbase, Sony and Samsung Back $14.6M Round for Stablecoin Startup Bastion

by admin September 24, 2025

Stablecoin infrastructure startup Bastion has raised $14.6 million in a new funding round led by Coinbase Ventures, the company said in a press release shared with CoinDesk, bringing its total funding to over $40 million.

Bastion builds white-label stablecoin systems that let companies issue digital dollars without writing code or applying for regulatory licenses. The round included participation from the venture arms of Sony and Samsung, as well as Andreessen Horowitz’s crypto division and Hashed.

The startup is led by Nassim Eddequiouaq, a former Meta and a16z crypto executive who worked on Libra, Meta’s now-defunct stablecoin project. Eddequiouaq said Bastion’s product suite goes beyond simple issuance: it includes wallets for users and off-ramps that allow conversion to cash in over 70 countries.

The valuation of this latest funding round wasn’t revealed, and the company raised $25 million back in 2023 in a round led by a16z crypto.

The company said it’s seeing particular traction in Asia, where demand from enterprise customers is rising. The fresh funding will support product expansion and hiring. Bastion has also recently added new leadership across compliance, treasury, legal and revenue, the company said.

That positions Bastion to compete with firms like Paxos and newer players like Agora. The firm declined to name which corporations are currently using its platform, but Eddequiouaq said announcements are coming within the next nine months.

The funding comes amid a broader stablecoin boom. Stripe recently acquired stablecoin startup Bridge for $1.1 billion, USDC issuer Circle went public over the summer, while leading stablecoin issuer Tether is reportedly looking to raise up to $20 billion at a valuation that could be as high as $500 billion.

UPDATE (Sept. 24, 13:58 UTC): Updated story to add that Bastion said it’s seeing traction in Asia and details the use of funds.

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September 24, 2025 0 comments

Crypto Trends

Burn, Mint, Repeat: Ripple USD Stablecoin Breaks into Top 100 After $11,000,000 Mint

by admin September 24, 2025

Ripple’s stablecoin desk is playing active supply games, with the latest sequence showing both sides of the ledger. First, there was an eight million RLUSD mint, then an eleven million burn, and then another three million tokens spun out of the treasury.

The pattern is not random; it is controlled cycling that shows Ripple is adjusting liquidity around live flows rather than just letting supply drift.

The total float is now around $741 million, which is enough to push Ripple USD above Raydium — the token of Solana’s main decentralized exchange — in the market cap rankings. The jump is important because RLUSD is still pretty young, only launching months ago, but it is already moving $150 million in daily volume.

That means it has a turnover rate of over 20% of supply every single day. For a stablecoin that is still finding its distribution rails, that kind of speed is a statement.

What is so specific about Ripple USD stablecoin?

What makes RLUSD stand out is how well institutions are already plugging in. Investors can swap tokenized fund shares like BlackRock’s BUIDL into RLUSD using Securitize, closing the loop between tokenized treasuries and dollars.

DBS Bank is listing RLUSD alongside sgBENJI in Asia, enabling trading, borrowing and collateralizing using Ripple’s stablecoin in the same environment as tokenized money market funds.

Source: CoinMarketCap

The mint-burn-mint cycle shows that Ripple is treating RLUSD like a live monetary instrument, not a one-way issuance machine. If you look at the market size of Raydium, it is already overtaking some of the big names in DeFi.

Connections with large institutions show the target is bigger than crypto trading pairs; Ripple wants RLUSD to be at the center of global tokenized finance.

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September 24, 2025 0 comments

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Kazakhstan Launches Solana-Powered Stablecoin In Partnership With Mastercard

by admin September 24, 2025

Trusted Editorial content, reviewed by leading industry experts and seasoned editors. Ad Disclosure

The National Bank of Kazakhstan today announced the launch of its tenge-backed stablecoin called Evo (KZTE). The stablecoin is launched in partnership with Mastercard and the leading smart contract platform, Solana (SOL).

Kazakhstan Unveils Solana-Powered Evo Stablecoin

In an announcement made earlier today, the Central Asian country of Kazakhstan unveiled a pilot project for its tenge-baked stablecoin, dubbed Evo. For the uninitiated, the tenge is the national currency of Kazakhstan.

According to the announcement, Evo’s issuance will be managed by other participants of the country’s digital assets regulatory sandbox. Notably, the two entities that will be overseeing the Evo stablecoin are likely to be crypto exchange Intebix and Eurasian Bank.

The developers have dubbed Evo the “national stablecoin” and aim to leverage the technology to bridge the gap between blockchain innovation and traditional finance. The stablecoin will be used for a variety of purposes, including expanding crypto-fiat gateways, swapping digital assets, and aiding crypto card-based transactions.

Low-latency and high-throughput smart contract platform, Solana, will be used to power the Evo stablecoin. Solana’s rapidly growing infrastructure will be critical in ensuring a smooth payment experience and large-scale stablecoin adoption in Kazakhstan.

Besides powering the stablecoin, Solana has also signed a Memorandum of Understanding (MoU) with Kazakhstan’s Ministry of Digital Development to create a special blockchain economic zone in the country.

Source: onchain.org

In the same vein, Mastercard will leverage its expertise in payments to integrate KTZE with stablecoin issuers around the world. Such integrations could open the doors for cross-border payments and international utility.

It is worth noting that the National Bank of Kazakhstan will not issue the stablecoin directly. Rather, the regulator will provide a legal framework for the issuers to issue the stablecoin. The framework will also be used to test Evo and to develop the virtual currency market.

The Head of the National Bank of Kazakhstan, Timur Suleimenov, pointed toward the importance of the pilot project, saying that cryptocurrencies and blockchain technology could play a significant role in increasing financial accessibility.

Stablecoin Growth Is Taking Over

While leading cryptocurrencies like Bitcoin (BTC) and Ethereum (ETH) continue to witness rising adoption, an unlikely class of digital assets like stablecoins is experiencing just as much adoption, if not more.

For example, South Korean banks are reportedly in talks with leading stablecoin issuers such as Circle and Tether to develop a market for Korean won-backed stablecoins. Similarly, Standard Chartered is expected to apply for a Hong Kong stablecoin license.

Earlier this year, Citigroup predicted that the stablecoin market is likely to grow by another $1.6 trillion by 2030. At press time, BTC trades at $112,637, up 0.1% in the past 24 hours.

Bitcoin trades at $112,637 on the daily chart | Source: BTCUSDT on TradingView.com

Featured image from Unsplash.com, charts from onchain.org and TradingView.com

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September 24, 2025 0 comments