🚀 Stablecoins Take Over: Big Banks, Bold Moves & The SEC’s Game-Changer – This Week in Web3 Payments (Feb 24, 2025)

👋 Welcome to PayFi Weekly, your go-to source for the latest in stablecoins, crypto payments, and digital finance powered by Transak.

In the past week, we witnessed significant strides in the integration of digital assets into mainstream finance. From regulatory approvals to innovative partnerships, the landscape of digital payments is rapidly evolving. 💡🔗💰

Let’s unwrap the third week of February 2025!

🔥 Top Stories of the Week

February is turning out to be quite eventful for stablecoins.

Here’s the scoop on how the stablecoin space is shaking up! ⚡️

💶 Societe Generale launches Euro-backed stablecoin! EURCV goes live on Stellar, bringing digital euros to the blockchain. More

🟡 Ex-Tether CEO to launch a yield stablecoin! A new player enters with plans to rival USDT—this time, offering passive income. Full story

⚖️ 1,000 new stablecoins incoming? Proposed U.S. legislation could unleash a tidal wave of regulated stablecoin issuances. Details

🇧🇷 Brazilian bank launches a stablecoin! Braza FX Bank rolls out a digital asset to streamline remittances. More info

🇺🇸 Wyoming’s state-backed stablecoin nears launch! A publicly controlled stablecoin could soon enter circulation. Full story

🌍 Cross-Border Payments & Institutional Moves

💰 Tether leads $10M investment in Mansa! Boosting crypto-powered remittances for Africa and emerging markets. Read more

🇬🇳 Tether inks a deal with Guinea! A new partnership explores blockchain-driven financial solutions. More

🏦 ECB makes a move on blockchain payments! The European Central Bank signals openness to integrating blockchain into its financial infrastructure. Details

📢 Fed governor backs bank-issued stablecoins! U.S. regulators might let banks and institutions issue their own stablecoins. Full story

🏦 Hitachi invests in Web3 payments tech! Supporting India's Spydra to develop CBDCs and decentralized financial rails. More

🌍 AUSTRAC cracks down on crypto remittances! Over 50 firms warned to comply or lose their licenses. Read more

📊 Market Trends & Highlights

📈 Stablecoins fueling the next alt season? CryptoQuant says stablecoin holders—not Bitcoin rotations—are driving the latest altcoin surge. More

🔐 Ethena reassures users post-Bybit hack! The protocol confirms it remains solvent despite Bybit’s security breach. Full update

🇭🇰 PayFi Summit lights up Hong Kong! On February 17, Huma Finance and the Solana Foundation hosted the second PayFi Summit at Consensus Hong Kong 2025. Event recap

⚡ Highlight Of The Week: SEC 🟢 Greenlights An Yield-Bearing Stablecoin!

The SEC just did something unexpected – they approved the first-ever yield-bearing stablecoin. That’s right, a stablecoin that actually earns you money instead of just sitting in your wallet.

💰 Meet YLDS, a USD-pegged stablecoin that pays out 3.85% yield. Think of it like a high-yield savings account, but on the blockchain.

🚀 Why this is huge:

• Regulatory clarity: The SEC is officially recognizing yield-bearing stablecoins, opening the door for more innovation.

• DeFi meets TradFi: This could be the bridge institutions need to jump into crypto without getting their suits wrinkled.

• Competition incoming: If this takes off, expect every major player to start launching their own yield-bearing stablecoin.

🔮 What’s next? Will this bring in Wall Street big dogs, or will traditional banks fight back?

🔥 That’s a wrap for PayFi Weekly! Stay tuned as we track the biggest moves in stablecoins, crypto payments, and digital finance. See you next week! 🚀