Stablecoin

Over the last 24 hours, Google researchers detailed a powerful iPhone exploit kit dubbed Coruna that threatens crypto wallet seed phrases on older iOS versions. In parallel, Morgan Stanley moved toward a Bitcoin trust product with Coinbase and BNY Mellon, Zerohash applied for a U.S. National Trust Bank Charter, a16z targeted around $2 billion for a new crypto fund, and Tether backed Eight Sleep at a $1.5 billion valuation.

On 5 March 2026, Australia's ASIC authorized AUDC Pty Ltd, a Novatti subsidiary, to issue AUDD, a regulated Australian dollar-backed stablecoin on the XRP Ledger. The license allows Australian banks and other regulated institutions to issue, hold and settle payments in digital AUD on-chain, while broader digital asset rules are being reshaped under the Corporations Amendment (Digital Assets Framework) Bill 2025.

Andreessen Horowitz's crypto arm is reportedly raising a fifth dedicated digital-asset fund of around $2 billion with an expected close by mid-2026, a smaller vehicle than its $4.5 billion fund from 2022. The venture firm is keeping fundraising cycles shorter during a deep market drawdown, while also signaling parallel interest in AI, robotics and other emerging technologies.

On 2026-03-05, according to The Shib Daily, U.S. President Donald Trump accused major banks of obstructing the Senate's crypto market structure bill by opposing stablecoin yield payments under the GENIUS Act. The law would permit regulated stablecoin issuance while banning issuers from paying yield directly, leaving third-party platforms to provide returns, and the FDIC has introduced a proposed rule to guide banks in applying to run stablecoin subsidiaries. Trump urged banks not to weaken the GENIUS Act or hold up the House's CLARITY Act, arguing cooperation with the crypto industry better serves U.S. interests.

The U.S. Securities and Exchange Commission submitted commission-level interpretive guidance to the White House on March 3 on how federal securities laws could apply to certain crypto assets and related transactions. The document, now in a prerule interagency review stage, is expected to outline a token taxonomy that would clarify which assets fall under SEC oversight, while the CFTC separately advanced a measure on prediction markets following remarks by its chair about forthcoming rulemaking.

Blockchain infrastructure provider Zerohash disclosed on Wednesday that it submitted an application on Feb. 27 for a US national trust bank charter, seeking an OCC-issued license to broaden its stablecoin and custody services for banks, brokerages and fintech clients. Since the GENIUS Act was signed into law in July, several crypto firms, including Circle, Ripple, Bridge and Stripe, have obtained conditional approval for similar banking charters, while others such as Coinbase and World Liberty Financial are still awaiting decisions.

Elon Musk's X Money payment app has entered a limited external beta, featuring cashback on selected card purchases and a 6% annual percentage yield on deposits. Actor William Shatner was among the early testers, sharing screenshots that also highlighted FDIC-insured deposits held at Cross River Bank up to $250,000 per user. Shatner later worked with X to auction a total of 208 beta invitations at $1,000 each to raise funds for charity.

Western Union has entered into a partnership with Crossmint to support the launch of its USDPT stablecoin and Digital Asset Network on the Solana blockchain. The collaboration will integrate Crossmint's wallet and payment APIs with Western Union's infrastructure so fintech platforms can move funds via USDPT and tap into Western Union's global payout network.

On March 3, 2026, TCS Blockchain and PayPal announced the integration of PayPal USD (PYUSD) into a freight payment system aimed at shortening trucking payment cycles that can stretch from 30 to 180 days. The solution routes digital invoices through TCS utility tokens and the INX-Republic exchange into PYUSD, enabling same-day settlements and potentially cutting costs by up to 90% compared with traditional invoicing and factoring. TCS Blockchain expects the platform to process over $1 billion in freight invoices in 2026, in a market where truckers can lose more than 30% of net revenue to early payment services.

Electronic trading firm Tradeweb has led a $31 million Series B round in institutional crypto platform Crossover Markets, giving the CROSSx operator a $200 million valuation. The deal includes a strategic partnership to connect Tradeweb's global institutional network to spot crypto liquidity on CROSSx and will fund the expansion of the ECN, which has handled over $50 billion in volume since 2023. Additional venture funding has recently gone to infrastructure firms Talos, Mesh, Rain and VelaFi as investors target trading, payments and settlement services for digital assets.