Banks, Visa and NYSE deepen stablecoin and tokenization push
Four major banks reportedly committed $270M to a joint stablecoin, Visa added Monad to its stablecoin settlement program, and NYSE picked Avalanche. Tokenized equities hit a record.
What we know
Market news accounts report Goldman Sachs, Citigroup, Santander and Deutsche Bank committed $270 million to a joint stablecoin; this is unconfirmed by the banks in these posts. CoinDesk reported Visa added Monad to its stablecoin settlement program, with a $20B annualized run rate up 15x year over year. Avalanche's founder said NYSE chose the network after more than a year of evaluation. Tokenized equities supply reportedly rose $932M last week to above $4.7B, and Arbitrum counts 7,800+ tokenized assets, per an Offchain Labs executive.
How the story developed
Four major banks reportedly committed $270M to a joint stablecoin, Visa added Monad to its stablecoin settlement program, and NYSE picked Avalanche. Tokenized equities hit a record.
Visa is letting issuers and acquirers settle obligations in stablecoins on the Monad blockchain.
Visa broadened its stablecoin settlement network, adding Monad and allowing weekend and holiday transactions.
X users can reportedly now trade any Solana token from its cashtag via FOMO, drawing excitement and some controversy in the memecoin community.
Visa is adding Monad as a stablecoin settlement option, and X users can reportedly trade Solana tokens directly from cashtags through Fomo.
Sources
“Visa adds Monad to its stablecoin settlement program... $20B annualized stablecoin settlement run rate”
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View post →What people are posting
Posts on X this story draws on. They are individual users' views and have not been verified by Global Eye 24.
“Goldman Sachs, Citigroup, Santander and Deutsche Bank commit $270 million to launch joint crypto stablecoin.”
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