🌍 Stablecoins > Crypto?

Welcome to this month’s first edition of PayFi Weekly.

The last 10 months have been a wonderful roller coaster, and if there’s one takeaway, it is that stablecoins are becoming the world’s favorite form of money.

Let’s start by looking at how the stablecoin market ended in October 2025.

💱 Stablecoin Snapshot

The total stablecoin supply recently hit an ATH of over $307B 💵, spread across 40M+ active addresses and fueling 1.5B+ transactions every month.

Ethereum 🦄 and Tron 🌐 still lead the charge with ~$169B and ~$78B in issuance, while Solana ⚡ and BNB Chain 🧩 are catching up fast.

What’s wild is how steady this growth is 📈. Despite all the market noise, supply climbed 1.27%, and transaction volumes jumped almost 60% in just 30 days.

Fiat-backed champs like USDT and USDC still anchor global liquidity, but newer players like PYUSD and USDS are showing how fast regulated issuers are entering the scene.

👉 Explore the full Artemis Stablecoin Dashboard here.

⚖️ Regulation

🇦🇺 The Australian Securities & Investments Commission (ASIC) has published updated guidance expanding its interpretation of “financial products” to include stablecoins, wrapped tokens, tokenised securities and digital-asset wallets. A sector-wide “no-action” relief period runs until 30 June 2026 to allow transition. 👉 Read more

🇮🇩 Bank Indonesia is preparing a “national stablecoin” companion to its digital rupiah CBDC, backed by tokenised government bonds (SBN). 👉 Read more

⚖️ FSB’s latest thematic peer review suggests implementation of global stablecoin arrangements remains shallow and inconsistent. 👉 Read more

🌍 Adoption

🌍 Flutterwave is teaming with Polygon to deploy a stablecoin-powered cross-border payment network across 30+ African countries. 👉 Read more

🏦 Western Union has filed for the “WUUSD” trademark days after announcing its planned U.S. Dollar Payment Token (USDPT), a Solana-based stablecoin and digital-asset network to serve its global remittance business. 👉 Read more

🇰🇷 South Korean custodian BDACS is launching the KRW 1 stablecoin pegged to the Korean won on Circle Internet Financial’s new Arc blockchain. 👉 Read more

🛠 Tech & Partnerships

🔹 Coinbase is reportedly in advanced talks to acquire London-based BVNK for around US$2 billion, boosting its stable-coin and payments infrastructure ahead of broader crypto-regulation roll-out. 👉 Read more

🇪🇺 The Euro-denominated EURAU stablecoin, backed by Deutsche Bank and DWS and fully compliant with MiCA, is expanding across major networks (Ethereum, Arbitrum, Polygon, Solana) via Chainlink Labs’s CCIP. 👉 Read more

💹 Neobank Revolut (65 million users) has introduced zero-fee, zero-spread 1:1 conversion between USD and stable-coins (USDT/USDC) on six blockchains, allowing swaps up to US$578,630 per 30-day rolling window. 👉 Read more

💳 Mastercard is reportedly in advanced talks to acquire Zero Hash for up to US$2 billion as an aggressive bet on stablecoins and tokenised payments infrastructure. 👉 Read more

🌍 Everything Else

🎨 A growing number of stablecoins is creating UX confusion and fragmentation, with critics warning that proliferating tickers, inconsistent redemption flows and varied collateral models may hamper user trust and adoption of stablecoins as seamless payment instruments. 👉 Read more

📈 Visa’s CEO has publicly declared that the payments industry is entering a “tokenisation era” and outlined how tokenised assets and stablecoins will transform payments infrastructure, settlement speed and cross-border flows.👉 Read more

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