PlayStation Payments: Stablecoins Break Through

Visa hits billions in annualized stablecoin volume while Sony announced it would integrate stablecoins, and European banks formed a collaborative euro stablecoin framework. Let’s dive into the latest stablecoin news for enterprises.

Key Highlights

• Visa Strengthens Stablecoin Capabilities, Hits $2.5bn Annualized Volume: Visa achieved $2.5 billion annualized stablecoin transaction volume while strengthening infrastructure capabilities to support additional blockchain payment use cases.

• Sony Plans USD Stablecoin to Pay for PlayStation, Crunchyroll Subscriptions: Sony announced plans to launch USD stablecoins for PlayStation and Crunchyroll subscription payments in 2026, representing major consumer entertainment platform adoption and bringing stablecoins to millions of global users.

• Group of European Banks Announce Euro Stablecoin Company Called Qivalis: Multiple European banks formed Qivalis as a collaborative euro stablecoin infrastructure project, demonstrating a coordinated banking-sector response to dollar-denominated stablecoin dominance.

Corporate Integration and Banking Infrastructure

Visa's stablecoin capabilities strengthened significantly, achieving $2.5 billion annualized transaction volume while partnering with Aquanow to boost settlement infrastructure. This exponential growth validates traditional payment network integration strategies as institutional adoption accelerates for the card network. 

U.S. Bancorp tested stablecoins on finance-focused blockchains, while wealth managers increasingly embraced digital dollar infrastructure for client portfolios. Multiple European banks announced the formation of Qivalis, which is European banks latest attempt to combat USD dominance on blockchain payments - we’ll see if they’re even able to make a dent! 

Santander published reports advocating bank-issued stablecoins and tokenized deposits, while also highlighting concerns about payment fraud. Banks have every incentive to prefer tokenized deposits over stablecoins due to the nature of stablecoins competing for their deposit base; but this doesn’t mean banks should neglect stables. 

Unlimit launched Stable.com as a decentralized stablecoin clearing house infrastructure, while former Citadel employees raised $17 million for Fin, a global stablecoin application designed "without all the complexity." The FinTechs of tomorrow will be built on top of stablecoin infrastructure. 

Platform Adoption and Market Dynamics

Sony's announcement launching USD stablecoins for PlayStation and Crunchyroll subscription payments in 2026 represents transformative consumer platform adoption. This integration brings stablecoin functionality to millions of global entertainment subscribers, potentially normalizing the use of the digital dollar among mainstream audiences.

Tether's CEO dismissed insolvency claims, emphasizing that critics ignore $30 billion in group equity, while the company ended EURT redemptions due to MiCA regulations requiring a complete euro-market exit. This regulatory compliance demonstrates the European framework's impact on established stablecoin issuers and the constant regulatory scrutiny that Tether is under as the world’s largest stablecoin issuer. 

The stablecoin sector continued to recover as USDC expanded market capitalization, while First Digital reportedly pursued a public listing through a SPAC merger with New York-listed CSLM. Polygon executives predicted "super cycles" generating 100,000 stablecoins as banks fight to retain capital. Does this indicate potential market fragmentation in the near future? Time will tell. 

StraitsX expected increased stablecoin payment activity through UPay partnerships, demonstrating regional platform integration strategies across Asian markets. Stables are a lot more popular in Asia than in the US when it comes to consumer preferences. 

Regulatory Framework and Regional Development

Central bank positions evolved across multiple jurisdictions. South Africa's Reserve Bank flagged crypto and stablecoins as structural risks, while the Bank of England softened its stablecoin stance, potentially opening doors to widespread UK crypto adoption. This regulatory evolution demonstrates divergent national approaches balancing innovation with stability concerns. We also discussed these sorts of topics during my livestream last week (which you can watch here). 

Federal Reserve Governor Bowman confirmed that bank regulators are actively developing stablecoin rules, while South Korea pushed regulators toward stablecoin legislation by December deadlines. Israel's central bank signaled improved stablecoin oversight as plans for a digital shekel advanced.

Taiwan indicated that its first national stablecoin could launch by 2026, while Wemade launched the GAKS consortium to build KRW stablecoin ecosystems. These sovereign and corporate initiatives demonstrate comprehensive Asian development of digital currencies across the public and private sectors.

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.