While cryptographic markets keep an eye on Capitol Hill for the Movement on the Bill on Engineering, inherited financial institutions are already laid the foundations for a future where the payment rails of the stabbed manage billions of dollars in customer transactions.
Once a niche tool used mainly by cryptographic traders to finance exchange accounts, stablecoins have become one of the most convincing cases of industry. The main players like JPMorgan, Citigroup and Bank of America are now in competition for a share of this growing market.
This week’s Crypto Biz newsletter plunges into Wall Street’s acceleration thrust in the Stablescoins, highlights a stablecoin emerging network aimed at challenging Tether and Coucle, and puts the latest S&P 500 record in perspective – by measuring its performance against Bitcoin (BTC).
Jpmorgan, Citigroup, Boa Consider the Stablecoins
Wall Street launched the profits season this week, and although income and profits have remained to the point, several major banks made the headlines for something else: their growing interest in stablecoins.
During the JPMorgan profit call, CEO Jamie Dimon told shareholders that the bank provided “to get involved in […] Stablecoins ”, quoting the need to stay ahead of the competition.
One day earlier, Citigroup pointed out similar intentions. CEO Jane Fraser announced that the bank “is considering the publication of a stablecoin Citi”, marking a clear step in the space of digital assets.
The most complete deep dive so far has perhaps come from Bank of America. The bank explored tokens handles throughout 2025, and when he calls results in the second quarter, CEO Brian Moynihan confirmed that stablecoins were considerably considered in order to modernize the bank’s payment infrastructure.
Moynihan noted that stablecoins could possibly support the movement of billions of dollars in customer assets every day.
OKX joins the PAXOS Stablecoin network
Crypto Exchange OKX has joined the Global Dollar Network consortium in Paxos, potentially exposing its world users to Stablecoin Stablecoin USDG (USDG).
OKX, which already supports the main stablecoins such as USDT (USDT) and USDC (USDC), has now activated the USDG for trading and transfers, the company announced.
Launched last year, the USDG adopts an approach to the regulation, after having registered with the monetary authority of Singapore and the framework of the EU markets in Crypto-Sets (Mica). The token reserves are kept in the DBS Bank of Singapore.
While the USDG still follows far behind its largest rivals in terms of market share, its food in circulation has increased rapidly in the past year, reaching $ 350 million.
S&P 500 returns to record heights, but there is a catch
The S&P 500 index has set up a strong V -shaped recovery since the beginning of April of American President Donald Trump, President of President Donald Trump in early April, reaching a new summit of all time last week. But the image seems very different when it is measured in Bitcoin.
Despite earnings of more than 6% for the start of the year, the S&P 500 is down 15% against Bitcoin, according to the commentator of the Kobeissi Letter.
Even more striking is the long -term domination of Bitcoin. Since 2012, the S&P 500 has lost 99.98% of its value when it is at the price of Bitcoin.
Bitcoin continues to be the quickest horse in the race, exceeding $ 123,000 this week in the midst of the FNB booming and growing speculation on a major Washington rear wind.
California is typing cryptographic companies to obtain advice on government efficiency
The State of California launched the Breakthrough project – a new initiative aimed at rationalizing government operations and improving public services – with the help of senior executives in the cryptography and technology sectors.
The leaders of Ripple, Coinbase, Moonpay and other companies joined the effort, which held its first meeting last month at the headquarters of Ripple in San Francisco.
The project was unveiled by the Californian governor Gavin Newsom, who said: “As a birthplace of modern technology, our state is only positioned to collect the best and the brightest to advance our work.”
Thanks to the project of breakthrough, California aims to promote a closer collaboration between legislators and industry leaders to stimulate innovation through public services and digital infrastructure.
Crypto Biz is your weekly impulse on the company behind the blockchain and the crypto, delivered directly to your reception box every Thursday.
