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The SoFiUSD stablecoin was initially deployed on Ethereum, with more networks expected over time.The token is designed to support 24/7, near-instant settlement for banks, fintechs, and enterprise partners.

Solana's Drift Protocol says most of the stolen funds linked to North Korean hackers remain traceable—and it has a plan to make victims whole.

Layer-1 network Somnia has introduced USDso, a new ecosystem stablecoin issued and operated by Frax Finance using its frxUSD reserve-backed architecture.USDso follows an over-collateralized model backed by assets including U.S. Treasuries and can be minted 1:1 against collateral such as USDC.Ninety percent of reserve yield will be returned to Somnia DeFi protocols and 10% to an insurance fund, with the stablecoin aimed at high-frequency trading, DeFi, and on-chain protocol use cases.

Circle rose 19.89%, while Coinbase closed up 6.14% on Monday.Sens. Angela Alsobrooks and Thom Tillis finalized a compromise on Friday on language governing stablecoin yields, a key sticking point in the debate over the Clarity Act.

Polygon has rolled out private stablecoin transfers using zero-knowledge proofs while keeping KYT compliance checks in place.Transactions routed through Hinkal allow users to hide payment details from public view while still generating audit records for regulators.

Western Union said it launched its U.S. dollar-denominated stablecoin on the Solana blockchain to serve as a 24/7 settlement asset across its global payment network.The asset is issued by Anchorage Digital and utilizes Fireblocks infrastructure to facilitate near-instant treasury and agent settlement, according to a statement.

The Tillis-Alsobrooks compromise bans crypto firms from offering any interest or yield that is “economically or functionally equivalent” to a bank deposit.Coinbase Chief Policy Officer Faryar Shirzad said banks secured tighter restrictions on rewards but the deal protected “the ability for Americans to earn rewards, based on real usage of cryptocurrency platforms and networks,” which he framed as the core issue throughout negotiations.Polymarket odds of the CLARITY Act becoming law in 2026 jumped from 46% to 64% within hours of the deal, with Galaxy Research head Alex Thorn saying a Senate Banking markup could come as soon as the week of May 11.

World Liberty Financial alleges Sun conducted straw purchases of WLFI tokens to conceal his identity, engaged in short selling of the token, and made false statements on social media after his tokens were frozen in violation of his terms of sale.Sun fired back immediately, calling the suit “a meritless PR stunt” and saying he stands by his actions, while WLFI CEO Zach Witkoff said he looks forward to “the truth coming out in court.”The WLFI token rose approximately 12% on the day of the filing, though the token is still down roughly 85% since its September 2025 launch.

Senators unveiled a Clarity Act compromise on the subject of stablecoin rewards. Crypto seems happy enough, but what about the banks?

DTCC, the infrastructure giant managing $114 trillion in securities, will begin tokenizing Russell 1000 stocks and Treasuries.

Stablecoin infrastructure firm Rain, valued at $1.95 billion, has secured a partnership with Mastercard to issue credit and prepaid cards and to pilot stablecoin-based settlement flows for institutional clients.The deal marks Rain’s move from a Visa-only setup to a dual-network model, aimed at letting large enterprises add stablecoin settlement “without changing their existing payment systems.”The tie-up comes as players like Stripe and Coinbase roll out their own stablecoin payment rails, accelerating the convergence of traditional finance and crypto settlement.

Because Canton allows participants to implement guardrails, Digital Asset's Yuval Rooz said institutions can protect against bad actors.

Sens. Thom Tillis (R-N.C.) and Angela Alsobrooks (D-Md.) finalized the long-awaited stablecoin yield compromise text Friday, with Punchbowl News first reporting the language.Section 404 of the bill bars crypto firms from paying any interest or yield “economically or functionally equivalent” to a bank deposit, while preserving activity-based rewards tied to “bona fide” platform usage.Coinbase CEO Brian Armstrong urged the Senate Banking Committee to “mark it up.”

Brazil’s central bank has banned the use of cryptocurrencies for settlement inside regulated cross‑border payment rails, forcing banks and fintechs to use only traditional FX and real‑denominated accounts.The move, formalized in a new foreign‑exchange resolution, comes as authorities say roughly 90% of reported cross‑border crypto remittances involve stablecoins, raising concerns over tax evasion, money laundering, and monetary sovereignty.The rule does not outlaw crypto in Brazil, but it walls off virtual assets from the supervised eFX system that underpins formal remittance channels and instant‑payment integrations like the central bank’s Pix network.

Stablecoins accounted for 40% of crypto purchases on Bitso in 2025, overtaking Bitcoin at 18% for the first time.Bitso said nearly 10 million users are increasingly using dollar-pegged tokens to store value and send payments in inflation-hit economies.Bitcoin remained in 52% of portfolios in 2025, with Bitso describing it as the region’s primary long term store of value.

The five new additions join Avalanche, Ethereum, Solana, and Stellar, giving Visa’s issuers and acquirers nine blockchain options for settling transactions outside traditional banking rails.Visa is operating as a validator node on Tempo alongside Stripe and Standard Chartered’s Zodia Custody, making it one of the first major payment companies to run blockchain validation infrastructure directly.Visa now operates more than 130 stablecoin-linked card programs across more than 50 countries, bridging digital assets with traditional merchant acceptance at global scale.