Payment
Crypto Wallets Evolve from Trading Tools to Everyday Finance: Robinhood Launches 7% USD Yield Product as Bitget Wallet Hits 100M Users
Digital finance platforms are shifting from pure trading to everyday financial applications. Robinhood introduced Robinhood Earn offering 7% annual yield to 27.7 million users, targeting stablecoin yield scenarios, while Bitget Wallet surpassed 100 million users with payment volumes exceeding trading volumes for the first time, signaling crypto wallets' evolution into global everyday finance accounts.
U.S. Congress Bans Central Bank Digital Currency Until 2030, Clearing Path for Private Stablecoins
A four-year ban on central bank digital currency (CBDC) embedded in Congress' bipartisan housing bill is set to take effect on July 12, explicitly prohibiting the Federal Reserve from issuing a retail digital dollar until 2030. Despite President Trump's refusal to sign the bill, it will automatically become law under congressional procedures.
Tencent in Talks to Acquire Manus as Meta Doubles Down on Agentic Commerce and Stablecoin Payments
Tencent is negotiating to become the largest external shareholder of Agentic AI pioneer Manus, filling the gap left after Chinese regulators blocked Meta's deal. Meanwhile, Meta's Chief Data Officer says autonomous AI agents executing commercial transactions will be core to future business, with stablecoins already the default payment rail inside Meta.
Western Union and Ripple Accelerate On-Chain Payment Infrastructure Deployment
Western Union launches on-chain settlement services in the Philippines and Bolivia, while Ripple acquires African stablecoin infrastructure and plans to deploy fast payment systems across the continent, marking accelerated blockchain adoption by major payment providers.
Stablecoin Market Cap Approaches Ethereum as Payment Infrastructure Enters Standardization Phase
USDT briefly surpassed Ethereum to become the second-largest crypto asset after Bitcoin. Visa, Mastercard, Stripe, and 140+ institutions jointly released the Open USD stablecoin standard, driving payment infrastructure standardization. Hyundai introduced internal stablecoin transfers, Western Union enabled on-chain treasury settlement, as traditional enterprises accelerate adoption of on-chain payments.
US Payment Regulation Tightens: Cash App's $45M Settlement and Banks' Fee Cap Workarounds
Block's Cash App agreed to pay $45 million to settle fraud protection allegations from 46 state attorneys general, while major banks including JPMorgan explore acquiring debit card networks to circumvent fee cap regulations, highlighting intensifying regulatory scrutiny in the US payments sector.
SWIFT Launches Blockchain Ledger, 17 Global Banks Begin 24/7 Payment Pilot
SWIFT announced its blockchain-based shared ledger system is ready for deployment, with 17 major global banks including Citi, HSBC, UBS, and Wells Fargo set to test live transactions across six continents, aiming to enable round-the-clock cross-border payments using tokenized deposits.
140+ Institutions Launch Open USD Stablecoin Consortium, Exploring Shared Dollar Infrastructure Model
A consortium of over 140 companies including Visa, Mastercard, Coinbase, Google, and DoorDash has launched the Open USD stablecoin project, operated by independent entity Open Standard. This shared infrastructure model without a single owner marks a new attempt to shift the stablecoin industry from single-issuer dominance toward multi-party collaboration.
Tether Plans Native USDT Issuance on Bitcoin via RGB Protocol: Can It Challenge Tron's Dominance?
Tether is preparing to natively issue USDT on the Bitcoin network through RGB protocol v0.11.1, marking its first true return to Bitcoin since 2014. The new approach leverages the UTXO model for privacy protection and Lightning Network instant settlement, with fees and slippage significantly lower than Tron and other chains, potentially reshaping the stablecoin landscape.