While Crypto markets are guarding Capitol Hill for Movement to genius billLegacy financial institutions are already placing a basis for a future where Stablecoin payment railroads hold trillion dollars in client transactions.
When a niche tool used especially by crypto entrepreneurs to fund exchange accounts, the stablecoins evolved into one of the most compelling industry cases. Basic players like JPMorgan, Citigroup and Bank of America are now competing for a portion of the growing market.
This week’s Crypto Biz Newsletter dives into a speeding Wall Street pushing in Stablecoins, emphasizes an emerging Stablecoin network aimed at challenging tether and circle, and puts the latest S&P 500 record – by measuring its performance against Bitcoin (Btc).
JPMorgan, Citigroup, Boa Consciously Stablecoins
Wall Street began the income period this week, and while income and income remained focused, many major banks have taken titles for others: their growing interest in Stablecoins.
During JPMorgan’s revenue call, CEO Jamie Dimon Shareholders told the bank’s plan to “join (…) stablecoins,” citing the need to stay in advance of the competition.
Just one day earlier, Citigroup signed similar intentions. CEO Jane Fraser has announced that the bank is “viewing the release of a Citi Stablecoin,” marking a clear step in the digital space space.
Perhaps the most comprehensive deep diving so far has arrived From the Bank of America. The bank explored Fiat-Pegged tokens throughout 2025, and during a second-quarter revenue call, CEO Brian Moynihan confirmed that Stablecoins were under serious consideration as a way to modify the bank payment infrastructure.
Moynihan noted that Stablecoins could support the movement of trillion dollars to client assets each day.
Okx joined the Paxos’ Stablecoin Network
Crypto Exchange Okx joined Paxos’ Global Dollar Network Consortiumpotentially expose 60 million global users to USDG (USDG) Stablecoin.
Okx, which supports major stablecoins such as USDT (USDT) and USDC (USDC), USDG is now enabled for trade and transfer, the company announced.
Launched last year, the USDG takes a regulation-first approach, registered with the Monetary Authority of Singapore and the EU markets in the Crypto-Assets (MICA) framework. Token reserves will be held at Singapore’s DBS Bank.
While the USDG is still the roads far behind its larger rivals in terms of market sharing, the switch -moving supply has grown rapidly last year, reaching $ 350 million.
S&P 500 is back to recording highs, but there is a catch
The S&P 500 index mounted a strong V-shaped recovery from the US tariff driven by US tariff Donald Trump in early April, hitting a new all-time high last week. But the picture looks different When measured in Bitcoin.
Despite the notching year-to-date acquisitions of over 6%, the S&P 500 dropped a tedious 15% against Bitcoin, according to the market commentator Kobeissi’s letter.
Even more noticeable is the long-term dominance of Bitcoin. Since 2012, the S&P 500 has lost a fatigue of 99.98% of its value when priced at Bitcoin.
Bitcoin continues to be the fastest racing horse, which has dropped the past $ 123,000 this week in the middle Booming ETF demand and growing speculation about a basic tailwind policy from Washington.
California has tapped crypto companies for government efficiency advice
The California state launched the Breakthrough project – A new initiative aimed at streaming government operations and improving public services – with the help from leading executives in crypto and tech sectors.
Leaders from Ripple, Coinbase, Moonpay and other companies joined the effort, holding its inaugural meeting last month at the Ripple’s San Francisco headquarters.
The project was shown by California governor Gavin Newsom, who said: “As the birthplace of modern tech, our state is uniquely positioned to bring the best and brightest together to advance our work.”
Through the Breakthrough Project, California aims to stimulate closer cooperation between lawmakers and industry leaders to drive a change in public services and digital infrastructure.
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