📈 💣 FTX’s $11B Twist, Trump’s Digital Mandate & Stablecoin Moves You Can’t Miss

👋 Hi there, welcome to PayFi Weekly by Transak!

Whether you're deep into Web3 or just dipping your toes in crypto payments, this is your 5-minute roundup of the most important shifts, signs, and shakeups in Web3 payments.

Let’s dive into what moved the space this week 👇

🔥 Top Stories of the Week

💸 FTX to Begin $11.4B Repayments in May… But There’s a Catch! FTX is finally repaying creditors, but based on 2022 crypto prices. With markets now booming, creditors are fuming over what they see as major lost value. Read our spotlight story

🏛️ Trump Orders Full Shift to Digital Federal Payments. By September 30, 2025, all U.S. federal payments must go digital, aiming for faster, affordable, and more secure money movement. Find out more

🔐 What is the Biggest Barrier for Crypto Adoption? Top Answer: Security! A new survey shows 37% of users view security risks as the top blocker to using crypto for payments, despite 46% preferring it over fiat for speed. Dive deeper  

💵 Stablecoin Spotlight

🏦 Stablecoins Fuel Rise of “Deobanks”! Decentralized financial services or "deobanks" are gaining traction in high-risk and underbanked regions, with stablecoins as the backbone. Learn more

🔮 JPMorgan Predicts Surge in Yield-Bearing Stablecoins. Analysts at JPMorgan predict that yield-bearing stablecoins could expand from 6% to 50% of the stablecoin market capitalization, potentially enhancing investor returns and reshaping the crypto investment landscape. More on this

🪙 Fidelity Ventures into Stablecoins. Fidelity Investments is testing a USD-pegged stablecoin, aligning with emerging U.S. regulations and expanding its digital asset strategy. Details

🏛️ Policy & Regulation Watch

👀 Ted Cruz Pushes Bill to Ban Fed-Issued CBDC! The senator revives his proposal to block a U.S. central bank digital currency, citing privacy and surveillance concerns. Get the scoop

⚖️ Rep. Emmer Opposes AML Rules for Stablecoin Issuers. House Majority Whip Tom Emmer argues against imposing stringent anti-money laundering laws on stablecoin issuers, suggesting current legislative drafts unfairly target companies like Tether. Read here

🌍 Global Payments & Partnerships

🇿🇦 Ripple + Chipper Cash = XRP-Powered Africa Payments. This partnership will enable fast, low-cost cross-border payments using XRP across nine African nations. Details

🇲🇽 Bitso Launches Peso-Backed Stablecoin. ‘MXNB’ is fully backed by the Mexican peso and designed to simplify cross-border payments in Latin America. Read more

🇮🇳 Circle and Near Invest $14M in Indian Remittance App Abound, serving the Indian diaspora, which currently boasts 500,000 monthly active users and has processed $150 million in remittances. Get details

🇦🇪 Sonic Labs Switches to UAE Dirham Stablecoin abandoning its USD-pegged project, Sonic Labs will now align with the UAE's digital currency rollout.  Find out more

🔗 Infrastructure & Network Expansions

📲 Tether’s USDT0 Stablecoin Now on Optimism Superchain! This cross-chain deployment improves stablecoin accessibility across Ethereum’s Layer 2s. More details

 🏦 U.S. Regulators Ease Crypto Restrictions for Banks. The FDIC and CFTC will now allow banks to engage in crypto activities without prior approval, also easing derivatives rules. Info

✅ In Summary – This Week’s Pulse

💸 FTX to repay $11B…but based on 2022 prices.
🏛️ Trump mandates digital transformation of U.S. federal payments.
💵 Stablecoins continue reshaping finance: globally and institutionally.
🌐 Ripple, Bitso, Sonic Labs lead cross-border innovation.
🏦 U.S. regulators signal a softer stance on crypto banking.

Thanks for reading PayFi Weekly.
We’ll be back next week with the stories that move Web3 payments forward.
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