
Circle Wins an NYDFS Limited-Purpose Trust Charter
New York's financial regulator granted Circle a limited-purpose trust charter on July 31, three weeks after the issuer won a federal trust bank approval.
Altcoins, ETH & general crypto

New York's financial regulator granted Circle a limited-purpose trust charter on July 31, three weeks after the issuer won a federal trust bank approval.

Tether's GENIUS Act-compliant dollar token USAT expanded beyond Ethereum for the first time, launching natively on Celo where it can also pay its own gas fees.

Stablecoin supply sat near $300 billion in late July, about 3% below its May peak and the market's first contraction since the Terra collapse of 2022.

Augustus raised $180 million led by Tiger Global at a $1 billion valuation to build a clearing bank for stablecoin settlement. It issues no token, only rails.

The GENIUS Act turns one this week, leaving Tether until July 2028 to move a reserve that CoinDesk puts at roughly a quarter non-compliant into cash and Treasuries.

Visa opened a managed platform for institutions to mint, hold and move stablecoins into its settlement network, starting with the consortium token Open USD.

Hyundai moved $20,000 between its US and Mexican units as USDT on Avalanche in about seven minutes, against three to four hours by the conventional route.

Stablecoin supply stood at $312.23 billion in mid-July, roughly $10 billion under its May peak, with USDT and USDC both smaller than they were this spring.

Circle National Trust won final OCC approval, letting the issuer custody digital assets and eventually manage the USDC reserve under federal supervision.

Gyeonggi Province will run an eight-month won stablecoin proof of concept from August, led by ZKrypto, with no issuer or legal frame named.

Trade-press reporting says the UAE central bank cleared DDSC, a dirham-backed payment token, to list on VARA-regulated exchanges in Dubai.

More than 140 companies, including Stripe, Coinbase, Visa and BlackRock, backed Open USD, a consortium stablecoin with fee-free minting that returns reserve income to partners. Circle shares fell more than 17% to a four-month low.