Welcome to another edition of The Weekly Stable, the essential source of stablecoin insights, analysis and news coverage for global fintech professionals, brought to you by This Week in Fintech.

This week we cover:

• FIS' stablecoin integration and the changing on/off ramp landscape
• Product launches, partnerships and regulatory news from Anchorage Digital, Belo, Coinbase, Goldman Sachs, Interactive Brokers, OpenTrade, PayPal, Plasma, RD Technologies, Visa, Zodia Markets and more.

Quick note!

I’m excited to share that I’ll be joining the Stablecon team as an Advisor to the Stablecon Content Council. The Council’s remit is to sharpen program quality, diversify perspectives, and expand the reach and impact of our community's stablecoin expertise. I’ll be working alongside the recently hired Director of Content, Rachel Morrissey, and the broader team to grow the Council with operators, builders, and policy leaders pushing the space forward. Check out the announcement here.

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🏆 Top Stories

FIS Integrates USDC, Bringing Stablecoins to 13,000+ FIs

FIS has partnered with Circle to enable financial institutions to support USDC payments via its Money Movement Hub. The move follows passage of the GENIUS Act, giving regulated stablecoins a clearer legal footing in the U.S. Through this integration, USDC joins ACH, wires, and instant payment methods as a natively supported payment rail within FIS’ core infrastructure.

Why it matters:

FIS just made enabling stablecoin payments a menu option, alongside existing payments rails:

• Stablecoins as a new rail: Banks can now treat USDC like any other payment method. That means sending USDC to a wallet from a bank account, or receiving stablecoins and settling directly into USD—functionality that positions FIS as a major on/off-ramp enabler.
• Mainstream access: With over 13,000 financial institutions using FIS’ stack, this rollout makes stablecoins more easily accessible to a wide segment of the U.S. banking system. They just need to adopt FIS' recently released Money Movement Hub.
• Compliance will be key: Complying with BSA, AML, OFAC, and other regulatory obligations for blockchain payments is a significant new lift for financial institutions. FIS will integrate its real-time payments and enhanced fraud detection solutions and appears well positioned to provide this value-added service in partnership with tools such as Sardine
• Cost and margin opportunity: If FIS prices this rail competitively, stablecoins could become a highly efficient payment and FX tool for consumers and businesses, while opening a new revenue stream for banks.

The Changing Competitive Landscape

This is just the first step. Treating stablecoins as a standard rail within a trusted platform like FIS meaningfully lowers the barrier for banks to enter the space—no blockchain expertise required. It enables experimentation at scale and reduces the cost of participation. 

Critically, this could also reshape the on-off-ramp market. As banks and core providers enter, crypto-native firms face new competition. Expect margin compression, falling fees, and a more crowded field. The Money Movement Hub only launched in May, so real traction may take several quarters (regional banks aren’t known for engineering velocity) but FIS just gave its clients a compelling reason to start integrating.

Read on for a round up of this week’s news:

🚀 Product Announcements & Partnerships

Anchorage Digital to issue first GENIUS‑compliant stablecoin in US with Ethena Labs (read more)

FIS Partners with Circle to Unlock Stablecoin Money Movement Functionality for Financial Institution Customers (read more)

PayPal to let U.S. merchants accept payment in more than 100 cryptocurrencies (read more)

BNY, Goldman Sachs partner to tokenize money market funds (read more)

Belo Partners with OpenTrade to Launch USDC and USDT Yield Products Across Latin America (read more)

BNP Paribas goes live on DLT settlement system Fnality, executes swap payment (read more)

DWS-backed AllUnity Launches EURAU – Germany’s First Fully Reserved, MiCAR-Compliant EURO stablecoin (read more)

Nigeria Payouts Now Live on Circle Payments Network via Yellow Card (read more)

Visa Adds Support for Paxos-Issued USDG and PYUSD in Stablecoin Settlement Network (read more) 

Clear Junction Launches Support for On-Chain Stablecoins, Starting with USDC and USDT (read more) 

SoFi's crypto plans include staking and borrowing options plus stablecoins, says CEO (read more)

MetaMask Launches Stablecoin Earn Feature in Partnership with Aave (read more)

Privy enables Seamless Yield-Earning UX with Morpho Vaults (read more)

💸 Fundraises and M&A

Bitfinex-backed Layer 1 Plasma raises $373 million in 10-day token sale (read more)

French tokenized MMF startup Spiko raises $22m in funding (read more)

Zodia Markets Raises $18.25M to Fuel International Expansion, Stablecoin Payments (read more)

Hong Kong fintech firm RD Technologies raises $40 million ahead of stablecoin licensing rollout (read more)

WLFI Invests $10M in Falcon Finance to Boost On-Chain Dollar Liquidity (read more)

⚡ Stablecoin Adoption 

Interactive Brokers considers launching new stablecoin for customers (read more)

Coinbase Reaps Growing Rewards from Circle Ties and USDC Economics (read more)

Not every firm has the brand power to launch a stablecoin: Core VC (read more)

Falcon $USDf Supply Surpasses $1 Billion, Reaches New All-Time High (read more)

Google search volume for stablecoins hit peak amid ‘parabolic’ growth (read more)

⚖️ Regulatory Developments

Nigeria opens doors to stablecoin firms under regulatory oversight (read more)

Trump’s White House Backs Stablecoins and DeFi in New Crypto Policy Report (read more)

ECB Adviser: Stablecoins No Longer Just ‘Hype’ - Europe Must Respond (read more)

Bank of Korea creates crypto asset division amid local stablecoin momentum (read more)

HKMA warns it only plans a few stablecoin licenses plus stringent AML rules (read more)

Hong Kong rules require identity of every stablecoin holder (read more)

Seoul unveils stablecoin bill to defend monetary sovereignty (read more)

ECB Says U.S.-Backed Stablecoin Use in EU Could Weaken Its Monetary Autonomy (read more)

💬 Posts of the Week

📖 Reads of the Week

Reown released their State of Onchain Payments 2025 Report based on a survey of 1,000+ users and 300M Wallet Connect sessions

In It's time for the banking industry to look to a future beyond SWIFT, Kirill Gertman, CEO of Conduit, provides a strategic opinion piece that critiques SWIFT's outdated role in global payments and argues that stablecoins and blockchain-based FX and settlement layers offer a faster, cheaper, and interoperable alternative—essential reading for banks evaluating the long-term viability of their cross-border infrastructure.

Rebecca Rettig, Chief Legal Officer at Jito Labs, wrote an excellent thread on the President’s Working Group Report on Digital Assets that unpacks the 160-page document’s comprehensive regulatory vision—covering everything from securities and DeFi control frameworks to AML reform, banking access, insurance markets, tax guidance, and a firm rejection of CBDCs