Welcome to another edition of the Money Code newsletter (fka The Weekly Stable), the essential source of stablecoin news coverage for global fintech professionals, brought to you by This Week in Fintech and Stablecon.

This week we cover:

• Meta is Exploring Stablecoin Payments
• Money Code Ep 21: How Automation + Liquidity Scaled OpenFX to $45B w/ Prabhakar Reddy
• Product launches, partnerships and funding news from Aave, Anchorage, Bridge, Crypto.com, Payoneer, RedotPay, Stable Sea, Stablecore and more.

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🏆 Top Stories

Meta is Exploring Stablecoin Payments

Meta is testing stablecoin payments inside its existing payments stack and has sent an RFP to third parties to run stablecoin-based payouts/payments across Facebook, Instagram, and WhatsApp, targeting broader rollout in H2 2026. Meta is explicitly not issuing its own coin this time, instead integrating “at arm’s length” after the Libra/Diem blowback. Stripe is reported as a leading infrastructure contender, with USDC (Circle) and USDT both discussed as candidate coin layers.

Why it matters:

• Default placement compounds: If stablecoin transfers and payouts become native across WhatsApp, Instagram, and Facebook, Meta can set the default rail, and billions of users will be introduced to stablecoins around the chosen stack. This has the potential to greatly shift market share over time.
• Wallet balances can shift where deposits sit: If users and SMBs can hold stablecoin balances in a Meta wallet and spend or pay from it, more money stays in-app longer, at the expense of bank deposits. To me the powerful network effects and utility from a Meta wallet is a bigger threat to bank deposits than any given stablecoin paying yield.
• Partner-led structure reduces regulatory exposure: The arrangement avoids the political pressure of issuing their own coin, while Meta keeps distribution and UX (where most of the value is accrued).

📺 Money Code Podcast 

Ep 21: How Automation + Liquidity Scaled OpenFX to $45B w/ Prabhakar Reddy

Cross-border FX still runs on human hours, float incentives, and a chain of intermediaries that makes “fast money” structurally hard.

Prabhakar Reddy (Co-Founder & CEO, OpenFX) argues the fix is an automated liquidity and payout stack that runs 24/7, using stablecoins as a liquidity transport leg when they help.

OpenFX scaled from $4B to $45B annualized TPV in 2025 by turning FX into an API and pricing it like utility infrastructure. The constraint: even with automation, the hardest bottlenecks are still bank access and balance sheet design at global scale.

We decode

• What breaks when you try to deliver “instant FX” on top of bank cutoffs and correspondent incentives
• How fiat → stablecoin → fiat routing works for large ($10M+) transfers without exchange-style slippage
• Why liquidity depth + licensing becomes the moat as orchestration software commoditizes
• Prabhakar’s view on non USD stablecoins and onchain FX

Give it a listen and share your feedback by sending me a DM or replying to this email. 

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

📊 Market Trends

Aave crossed $1 trillion all-time loans (read more)

Stablecoins could drive $1 trillion in T-bill demand, giving Treasury room to shift issuance: Standard Chartered (read more)

💸 Fundraises and M&A

Payments giant Stripe reportedly mulling PayPal acquisition. (read more)

RedotPay Targets $1B U.S. IPO at $4B Valuation to Scale Stablecoin Payments (read more)

Stablecore joins Jack Henry Fintech Integration Network; announcement includes $20M funding (read more)

Tether Invests in Whop, World's Largest Internet Market, to Power Stablecoin Payments for the Next Generation of the Internet Economy (read more)

🚀 Product Announcements & Partnerships

Anchorage launches Stablecoin Solutions for Banks platform to give licensed international banks a direct, federally regulated path to move and settle USD with stablecoins. (read more)

Euler Labs and Securitize Bring Tokenized Funds Onchain as Collateral, Curated by KPK, Unlocking Composable RWA Credit Markets (read more)

Meta reportedly plans to begin stablecoin integration in the second half of this year (read more)

Payoneer Aims to Launch Stablecoin-Focused Digital Bank (read more)

Reflect Launches Whitelabel Solution for Custom Yield-Bearing Stablecoins (read more)

SocGen taps XRP Ledger for euro stablecoin distribution (read more)

Stable Sea and dLocal partner to enable low-cost B2B cross-border stablecoin payments (read more)

Stripe's Bridge sees stablecoin volume quadruple as utility insulates from 'crypto winter' (read more)

Tether-backed crypto exchange is ditching the ‘retail’ label to build the secret plumbing for Europe’s biggest banks (read more)

Trump-linked World Liberty taps BlackRock-backed Securitize for hotel tokenization (read more)

WisdomTree To Launch 24/7 Trading and Instant Settlement for Tokenized Money Market Fund Shares (read more)

⚖️ Regulatory Developments

Banking trade groups responsible for impasse on market structure bill, Brian Armstrong says (read more)

Crypto.com gets conditional US approval for national trust bank charter (read more)

FCA selects 4 firms to test stablecoin innovation in its Regulatory Sandbox (read more)

Fed proposes rule to deal with crypto debanking by scrapping 'reputation risk' (read more)

Hong Kong to issue first stablecoin issuer licenses next month: finance chief (read more)

Inside the meeting: White House favors some stablecoin rewards, tells banks it's time to move (read more)

OCC issues proposal to implement GENIUS Act, seeking public feedback (read more)

SEC makes quiet shift to brokers' stablecoin holdings that may pack big results (read more)

Tether Acknowledged by DOJ for Support in $61 Million Seizure Linked to Pig Butchering Fraud (read more)

White House: Stablecoin Rewards “Gap Has Shrunk Considerably” (read more)

📖 Reads of the Week

Jevons' Paradox Is Coming for Finance