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The stablecoin market lost $7.7 billion in capitalization last month, the steepest decline since 2022. Issuers such as Circle and Tether now face heightened scrutiny from investors and regulators over liquidity and redemption practices. These firms may need to strengthen reserves or redesign products to restore confidence and stem further outflows.
Mastercard is in talks to sell a majority stake in Vocalink, its UK payments subsidiary, back to British banks. This move would transfer control of a key domestic payment system from a global card network to local financial institutions. UK banks could gain more influence over payment scheme rules and pricing, while Mastercard pivots toward cross-border and value-added services.
Source: Financial TimesLawson, one of Japan’s largest convenience store chains, has started piloting stablecoin payments using JPYC in partnership with KDDI and HashPort. This initiative brings crypto payments to mainstream retail and could set a precedent for broader acceptance in Japan. Success may prompt other retailers to experiment and regulators to clarify rules for stablecoin use at checkout.
Source: The BlockRipple’s CEO revealed that the company considered shutting down during its extended legal battle with the SEC but ultimately chose to continue operations. By staying active, Ripple has kept XRP available for investors and demonstrated a willingness to contest regulatory actions. This stance may encourage other crypto firms facing enforcement to remain operational rather than exit the market.
Source: PYMNTSCloud banking platform Thought Machine has reached $100 million in annual recurring revenue and aims to double that figure before going public. This milestone strengthens its position against legacy core banking providers and signals rising demand for cloud-native infrastructure. Rivals may accelerate acquisitions or product launches as banks modernize their technology.
Source: Sifted“Japan’s convenience stores process over 17 billion cashless transactions annually, yet Lawson’s JPYC pilot marks the first major stablecoin test at this retail scale.
Filed under: Payments History · The Long Memory
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