Alibaba, JPMorgan & Visa Push Stablecoins Into the Mainstream

Stablecoins continue to gain mainstream institutional validation, and this week’s newsletter is filled with dozens of examples. This last week, Alibaba integrated with JPMorgan's blockchain for tokenized deposits while Circle exceeded quarterly profit expectations. And Visa touted a revolutionary freelancer payout pilot. These and other news events continue to push blockchain payment innovation to new heights, so let’s dive in and see what’s new this week! 

Key Highlights

• Alibaba Connects to JPMorgan's Blockchain for Tokenized Deposits: Alibaba integrated with JPMorgan's blockchain network for tokenized deposits in USD and EUR, marking an exciting collaboration between a major Chinese e-commerce platform and an American bank on digital currency infrastructure.

• Circle Quarterly Profit Beats Estimates on Stablecoin Growth: Circle exceeded quarterly profit expectations driven by stablecoin growth, demonstrating sustained business model profitability as regulatory clarity drives institutional adoption and transaction volume increases for USDC

• Visa Unveils Game-Changing Stablecoin Payout Pilot for Global Freelancers: Visa launched a revolutionary stablecoin payout pilot program for global freelancers and gig workers, potentially transforming cross-border payment infrastructure for the independent workforce economy.

Corporate Integration and Banking Infrastructure

Alibaba's integrated with JPMorgan's blockchain for USD- and EUR-denominated tokenized deposits. This development highlights how stablecoins could fundamentally reshape banking's core business model by disintermediating traditional deposit mechanisms.

Circle's quarterly profit exceeded estimates, driven by stablecoin growth, and Alibaba's cross-border division plans AI subscriptions and stablecoin-like payments through partnerships with JPMorgan. 

Paxos argued that tokenized dollars are the key to global digital asset adoption, while Deutsche Börse added Société Générale's stablecoins to its settlement businesses. BNY Mellon launched new funds that push for safer stablecoin reserve standards, addressing institutional custody concerns.

A+ unveiled multi-party stablecoin networks specifically for banks and financial institutions, while concerns emerged that stablecoin panics could upend European Central Bank policy, according to Dutch central bank governors. Federal Reserve's Miran outlined potential impacts of stablecoin on banking systems and monetary policy, indicating a central bank's typical analytical and skeptical perspective on blockchain payments.

Obex positioned itself as a Y Combinator for stablecoin startups with $2.5 billion in mandates, while Rain acquired Uptop, delivering integrated stablecoin rewards across enterprise card and wallet programs. MoonPay launched enterprise stablecoin businesses, expanding institutional service offerings.

Payment Infrastructure and Platform Adoption

Visa launched multiple initiatives that have begun to transform payment infrastructure. The company unveiled a stablecoin payout pilot for global freelancers, with Visa Direct launching programs accelerating fund access for creators and gig workers. Additionally, Visa introduced fiat-to-stablecoin pilot programs for business payments, addressing corporate treasury requirements.

Mastercard and Circle expanded stablecoin settlement capabilities across Eastern Europe, the Middle East, and Africa. Solana Foundation executives declared stablecoins "top of mind for everyone" as Western Union launched stablecoin infrastructure on Solana, validating the network's cost efficiency for remittance applications.

Bitcoin advocate Jack Dorsey is embracing the stablecoin-payments boom, while Cash App selected Solana for USDC payments launching in 2026. Circle minted $750 million USDC on Solana, demonstrating that institutional demand for fast and cheap transactions are a key reason for Solana’s success as an alternative to Ethereum. 

Sui Network introduced native stablecoins for payments and DeFi applications through Bridge partnerships. MetaComp unveiled StableX Network, a regulated cross-border settlement infrastructure that embeds risk intelligence into real-time payments.

MoonPay announced it would offer stablecoin issuance services to clients, while Trust Stamp sought SEC and MiCAR confirmations for stablecoin wallet-of-wallet solutions. MiniPay connected stablecoins to real-time payment systems in Latin America, rolling out support for PIX and Mercado Pago at DevConnect.

Regional Expansion and Regulatory Development

African markets embraced stablecoins through IOTA partnerships, unlocking $70 billion pan-continent trade technology opportunities. Super Money unveiled South Africa's first rand-backed stablecoin, while VALR partnered with Mukuru to advance USD stablecoin savings across the continent.

Novatti's AUDD stablecoin surpassed $1 billion in transactions on the Stellar blockchain, demonstrating sustained regional adoption. Singapore announced plans to trial tokenized bills while advancing stablecoin legislation, according to central bank leadership.

South Korea's NH NongHyup Bank piloted stablecoin-based VAT refunds for tourists, demonstrating the integration of government services. Brazilian regulatory tightening intensified with stablecoins now treated as foreign exchange, while authorities weighed IOF taxes on stablecoin payments.

Filipino workers gained stablecoin payroll access through new Toku-PDAX partnerships, while Canada approved budgets advancing stablecoin policy frameworks. Palm USD launched PUSD as a global free stablecoin backed by AED and SAR, indicating Middle Eastern sovereign currency diversification.

BitMart launched BMRUSD, marking the emergence of yield-anchored stablecoins and introducing innovative monetary policy mechanisms to address traditional stablecoin limitations.

Curious to learn more about stablecoin infrastructure for your enterprise? Reply to this newsletter or send me an email at [email protected] to learn how BVNK’s payment platform can unlock faster settlement and global access with stablecoins. You can also follow me on X for more insights.