Sagar Desai

Stablecoins have rapidly moved from the sidelines into the centre of discussion for public cross-border payments companies. In Q2 2025, 72% of the 25 major players we analysed mentioned stablecoins in their earnings calls – a dramatic rise from just 16% the quarter before with virtually no talk of them before 2025. This represents one of the fastest upticks in attention we’ve seen, even compared with previous hype cycles such as AI. Notably, discussion is not just speculative. Many companies are linking stablecoins to real products and near-term launches, including Remitly, Visa, Payoneer, Western Union, dLocal, Citi, Corpay and Standard Chartered. PayPal and Visa also stand out for consistent mentions over the past two and a half years. The breadth and maturity of the discussion show that stablecoin adoption is advancing at pace in cross-border payments, with clear signs of practical integration already underway. Read our full report here to understand how each company is approaching stablecoins: https://lnkd.in/esaKsCz5 #Payments #Stablecoins #CrossBorder #Fintech #DigitalAssets

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This isn’t just another stablecoin initiative. Ant International wants to rewrite the rules by embedding stablecoins into the global financial infrastructure instead of just floating them on crypto markets. 𝗪𝗵𝗮𝘁 𝘄𝗮𝘀 𝗮𝗻𝗻𝗼𝘂𝗻𝗰𝗲𝗱? At Reuters NEXT APAC 2025, Ant International said it’s exploring stablecoin licenses - but not to list tokens on exchanges. Ant is introducing a new paradigm that treats stablecoins as programmable infrastructure for payments and treasury, meaning that they can execute logic: trigger payments, convert currencies, or enforce rules automatically. Examples: - Instant FX: Stablecoins can convert currencies during transactions, cutting out intermediaries and reducing costs. - Conditional payments: Smart contracts release funds only when terms are met (e.g. on delivery). - Real-time liquidity: Stablecoin balances can move instantly across markets to optimize capital. - Embedded compliance: KYC and transaction rules are coded into the token - reducing manual steps and risk. 𝗛𝗼𝘄 𝗶𝘀 𝘁𝗵𝗶𝘀 𝗰𝗵𝗮𝗻𝗴𝗶𝗻𝗴 𝘁𝗵𝗲 𝗴𝗮𝗺𝗲? Most stablecoins today are crypto-native: - Built for trading and DeFi - Monetized through interest on reserves - Often operate in lightly regulated environments Ant’s approach flips that: - Built for regulated global commerce - Focused on payments, liquidity, and treasury - Monetized through real transaction flows, not passive float - Integrated into enterprise-scale financial infrastructure   𝗪𝗵𝘆 𝗱𝗼𝗲𝘀 𝗶𝘁 𝗺𝗮𝗸𝗲 𝘀𝗲𝗻𝘀𝗲? - Ant processes over $1 trillion in global payments annually, with a third already moving on blockchain via tokenized bank deposits. - It’s taking a licensing-first approach, working with regulators to align with financial frameworks. - Through existing payment corridors, Ant connects with hundreds of banks, wallets, and providers across Asia and beyond - enabling immediate reach for stablecoin services. - Ant owns the payment stack, so it can embed stablecoins natively into how money moves - not just layer them on top. - Ant sees stablecoins as infrastructure for automating how money moves globally - cutting out batch processes, unlocking 24/7 liquidity, and reducing reliance on legacy rails. 𝗜𝗻𝗱𝘂𝘀𝘁𝗿𝘆 𝗶𝗺𝗽𝗮𝗰𝘁: - From passive store-of-value instruments to active tools for automating payments, FX, and liquidity - From interest-based models to revenue from real transaction activity - From isolated pilots to full integration in enterprise infrastructure Ant’s model is a blueprint for how large fintechs can enter the space - not by replicating crypto strategies, but by integrating stablecoins into high-scale financial operations. Opinions: my own 𝐒𝐮𝐛𝐬𝐜𝐫𝐢𝐛𝐞 𝐭𝐨 𝐦𝐲 𝐧𝐞𝐰𝐬𝐥𝐞𝐭𝐭𝐞𝐫: https://lnkd.in/dkqhnxdg

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🚨 Apex Group Ltd, the fund admin of $3.5T assets, is launching its blockchain platform for asset lifecycle management👇 Apex Group is launching Apex Digital 3.0, a tokenized asset platform, to transition into digital and onchain finance by unlocking access, enhancing liquidity and driving asset growth and higher returns. Source: https://lnkd.in/eUy9ijnk ➡️Why this matters? Key functions of fund admin include NAV updates, fund accounting and investor subscriptions and redemptions. These are largely complicated and manual in nature. A blockchain based issuance, servicing and NAV system would significantly improve the efficiency and effectiveness of the processes. Fund admin and servicing industry is moving decisively onchain with this move. Apex Group's larger competitor, SS&C Technologies, recently acquired global fund distributor, Calastone, for $1B. The competition to upgrade fund admin services is on. Peter Hughes, Founder & CEO of Apex Group: "We aim to enable institutional adoption of digital assets by ensuring that regulatory and compliance requirements are met across the globe and giving confidence to all investors that these new investment products bear a similar risk profile to traditional asset classes when structured institutionally." ✅Want to learn more about institutional adoption of tokenization? Join 20,000+ readers at Tokenization Insight to receive the latest insights 👉https://lnkd.in/eHq-n6TS

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🚨 CRYPTO: Shield raises $5m to bring stablecoin payments to exporters Shield, a neobank startup using stablecoin payments to make life easier for global trade businesses, has raised $5 million in seed funding. The round was led by Giant Ventures, with participation from a16z crypto CSX, Factor Capital, and strategic angels from Bank of America, Coinbase, Amex, and Menlo Ventures. Shield was founded in 2022 but pivoted to payments in 2024 after its founders concluded that their own "gruelling" experiences with payments as former exporters could be addressed through stablecoins. The firm now help exporters accept stablecoin payments (USDT) from their international buyers and settle them as same-day USD wires. It also uses AI to ensure strong compliance screenings that fit legitimate exporters while still flagging real risks. In its first year, Shield processed over $150 million in cross-border payments — $40 million in the last month alone — for real businesses moving real goods. With the funding in place, the startup says it will expand its licensing coverage and strengthen compliance, enter new trade industries, and launch USDT-friendly bank accounts (although it is not a bank and provides services via partners Cross River Bank and Lead Bank). "We see a world where global trade payments are as fast as domestic wires, where compliance opens doors rather than closes them, and where exporters from every corner of the world can enjoy a banking and payments experience that finally optimizes for them," says a blog. Source: Finextra #fintech #payments #crypto

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📰 This Week in Stablecoins: Google Targets Banks with L1 Blockchain ⬇️ This week Crypto Twitter (and Stablecoin LinkedIn) were abuzz with Google’s “new” L1 for payments. Google Cloud Universal Ledger isn’t actually new — it was announced back in March — but the reframing vs. Stripe and Circle’s chains got people’s attention. The difference lies in its target customer: banks and FIs. They don’t want ideology, they want infrastructure that works. Google is betting its Universal Ledger can deliver exactly that — a managed, compliant blockchain built for financial institutions. The real question: If the next $1T of tokenized dollars lives on private, permissioned rails do you see that as success or did we miss the point? In the latest edition of The Weekly Stable we cover: • Google’s layer 1 strategy and why managed infra might be just what banks need • Product launches, partnerships and regulatory news from AAVE, Bitso, BVNK, Chainlink Labs, Circle, Dinari, Finastra, Kira, Rain, Ripple, Tazapay Find the link in the comments 👇

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Particula has upgraded the rating* of the Delta Wellington Ultra Short Treasury On-Chain Fund ($ULTRA) token from AA+ to AAA as of September 14, 2025. 📊 The $ULTRA token represents interests in the Delta Wellington Ultra Short Treasury On-Chain Fund, a sub-fund established under Singapore law and structured to be bankruptcy‑remote within the Delta Master Trust. The upgrade reflects scaled institutional adoption and improved secondary-market access, enhanced distribution and execution infrastructure, as well as governance measures that collectively strengthen liquidity, transparency, and operational resilience. In parallel, the recent multi-chain deployment enhances the token’s accessibility and interoperability across the broader Decentralized Finance (DeFi) ecosystem. -- Personally said, it is interesting to observe how different product structures as well as the distribution channels are evolving and opening up in the digital asset market. If you want to read the whole rating action then follow the link in the comment section. 🔎 _______________________ *𝘋𝘪𝘴𝘤𝘭𝘢𝘪𝘮𝘦𝘳: 𝘛𝘩𝘦 𝘪𝘯𝘧𝘰𝘳𝘮𝘢𝘵𝘪𝘰𝘯 𝘢𝘯𝘥 𝘢𝘯𝘢𝘭𝘺𝘴𝘦𝘴 𝘳𝘦𝘭𝘢𝘵𝘦𝘥 𝘵𝘰 𝘤𝘳𝘺𝘱𝘵𝘰 𝘷𝘢𝘭𝘶𝘦𝘴, 𝘤𝘳𝘺𝘱𝘵𝘰 𝘵𝘰𝘬𝘦𝘯𝘴, 𝘢𝘯𝘥 𝘰𝘵𝘩𝘦𝘳 𝘥𝘪𝘨𝘪𝘵𝘢𝘭 𝘢𝘴𝘴𝘦𝘵𝘴 (“𝘋𝘪𝘨𝘪𝘵𝘢𝘭 𝘈𝘴𝘴𝘦𝘵𝘴“) 𝘱𝘳𝘰𝘷𝘪𝘥𝘦𝘥 𝘣𝘺 𝘗𝘢𝘳𝘵𝘪𝘤𝘶𝘭𝘢 𝘎𝘮𝘣𝘏 (“𝘗𝘢𝘳𝘵𝘪𝘤𝘶𝘭𝘢“) 𝘢𝘳𝘦 𝘦𝘹𝘤𝘭𝘶𝘴𝘪𝘷𝘦𝘭𝘺 𝘮𝘢𝘥𝘦 𝘢𝘷𝘢𝘪𝘭𝘢𝘣𝘭𝘦 𝘵𝘰 𝘦𝘯𝘵𝘳𝘦𝘱𝘳𝘦𝘯𝘦𝘶𝘳𝘴 𝘸𝘪𝘵𝘩𝘪𝘯 𝘵𝘩𝘦 𝘮𝘦𝘢𝘯𝘪𝘯𝘨 𝘰𝘧 § 14 𝘉𝘎𝘉 𝘢𝘯𝘥 𝘢𝘳𝘦 𝘪𝘯𝘵𝘦𝘯𝘥𝘦𝘥 𝘴𝘰𝘭𝘦𝘭𝘺 𝘧𝘰𝘳 𝘪𝘯𝘧𝘰𝘳𝘮𝘢𝘵𝘪𝘰𝘯𝘢𝘭 𝘱𝘶𝘳𝘱𝘰𝘴𝘦𝘴. 𝘛𝘩𝘦 𝘱𝘳𝘰𝘷𝘪𝘥𝘦𝘥 𝘪𝘯𝘧𝘰𝘳𝘮𝘢𝘵𝘪𝘰𝘯 𝘢𝘯𝘥 𝘢𝘯𝘢𝘭𝘺𝘴𝘦𝘴 𝘥𝘰 𝘯𝘰𝘵 𝘤𝘰𝘯𝘴𝘵𝘪𝘵𝘶𝘵𝘦 𝘢 𝘳𝘢𝘵𝘪𝘯𝘨 𝘢𝘴 𝘥𝘦𝘧𝘪𝘯𝘦𝘥 𝘪𝘯 𝘈𝘳𝘵. 3 𝘱𝘢𝘳𝘢. 1 𝘭𝘪𝘵. 𝘢) 𝘰𝘧 𝘙𝘦𝘨𝘶𝘭𝘢𝘵𝘪𝘰𝘯 𝘌𝘎/1060/2009 (“𝘙𝘢𝘵𝘪𝘯𝘨 𝘙𝘦𝘨𝘶𝘭𝘢𝘵𝘪𝘰𝘯“). 𝘈 𝘤𝘳𝘦𝘥𝘪𝘵𝘸𝘰𝘳𝘵𝘩𝘪𝘯𝘦𝘴𝘴 𝘢𝘴𝘴𝘦𝘴𝘴𝘮𝘦𝘯𝘵 𝘢𝘴 𝘥𝘦𝘧𝘪𝘯𝘦𝘥 𝘪𝘯 𝘈𝘳𝘵. 3 𝘱𝘢𝘳𝘢. 1 𝘭𝘪𝘵. 𝘢) 𝘰𝘧 𝘵𝘩𝘦 𝘙𝘢𝘵𝘪𝘯𝘨 𝘙𝘦𝘨𝘶𝘭𝘢𝘵𝘪𝘰𝘯, 𝘦𝘷𝘢𝘭𝘶𝘢𝘵𝘪𝘯𝘨 𝘵𝘩𝘦 𝘪𝘴𝘴𝘶𝘦𝘳’𝘴 𝘤𝘳𝘦𝘥𝘪𝘵𝘸𝘰𝘳𝘵𝘩𝘪𝘯𝘦𝘴𝘴, 𝘪𝘴 𝘦𝘹𝘱𝘳𝘦𝘴𝘴𝘭𝘺 𝘯𝘰𝘵 𝘱𝘢𝘳𝘵 𝘰𝘧 𝘵𝘩𝘦 𝘢𝘯𝘢𝘭𝘺𝘴𝘪𝘴.

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Stablecoins deliver near instant settlement and offer obvious utility across three verticals: payments, trading and collateral. The collateral use case is under discussed--especially for derivatives. Variation margin (VM) is "cash" collateral that moves throughout the system daily to reflect mark to market and balance risk. Losers pay the winners. The size of these cashflows can be humungous--depending on market conditions. But, traditional collateral calls and batches are slow and clunky--exposing intermediaries to unsecured risk. Sometimes, it takes days to settle VM. Weekend stresses are particularly scary--as crypto markets rebalance, traditional markets wait. If not immediately addressed, this basis will likely cause the next systemic stress. So today, more collateral must be locked up as initial margin. This reduces capital efficiency. Now that we have regulated stablecoins coming into the system, it's time for the U.S. Commodity Futures Trading Commission to start thinking about allowing fully backed stablecoins to serve as variation margin. This is an important step in closing the gap. Done right, swifter VM settlement/risk rebalancing will reduce systemic risk and enhance capital efficiency. Critics will worry about "depeg" risk. GENIUS should mitigate some of this risk. But as long as we have fractional banking, and uninsured deposits sit at banks-- this risk remains. So, what's the solution? Create a special class of stablecoins that are not exposed to bank counterparty risk? Further regulate banks to mitigate bank counterparty risk for stablecoin reserves? I'm eager for thoughts here.

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🚨 Breaking: IG Group Buys Australian Crypto Exchange for £87 Million 🚨 IG Group (LSE: IGG), the London-listed broker with over £2.9 billion in client assets and over 400,000 active clients, has announced the acquisition of Independent Reserve, a regulated Australian crypto exchange with 129,400 funded accounts and A$1.7 billion in assets under custody. The deal, valued at A$178 million (£87m) or 5x FY25 revenues, marks a bold step in IG’s crypto strategy, expanding its footprint across Asia-Pacific and the Middle East. Independent Reserve will continue to operate under its existing leadership, retaining a 30% ownership stake, with IG holding an option to acquire the remainder based on future performance. 🔑 Why this matters: ETFs & Retail Investing: IG has been expanding its multi-asset platform, offering ETFs, shares, FX, and now crypto, aiming to become a one-stop shop for retail and institutional investors. Crypto Growth: Independent Reserve generated A$35.3m in FY25 revenues, nearly doubling year-on-year, and serves an average of 116,000 monthly active customers. Strategic Expansion: The acquisition follows IG’s earlier £160m purchase of Freetrade (UK commission-free trading platform), strengthening its position in equities and ETF trading for younger investors. 🌍 With ETFs continuing to attract record inflows in Europe and the U.S., IG’s dual focus on low-cost ETF investing and regulated crypto trading positions it at the heart of the next wave of digital and traditional finance convergence. 📊 The transaction is subject to regulatory approvals from MAS (Singapore) and FIRB (Australia), with closing expected in early 2026. #IGGroup #ETFs #Crypto #DigitalAssets #RetailInvesting #Fintech #MergersAndAcquisitions #WealthTech #ARKInvest

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The Chainalysis 2025 Crypto Adoption Index is out. 🇮🇳 India ranks #1 globally across retail, DeFi, centralized services, and institutional activity. 🏦 Institutional adoption is no longer a theory — it’s here. Spot BTC ETFs and regulatory clarity in the US, EU, and APAC are driving it. 💵 Stablecoins are the new rails. USDT and USDC dominate, but EURC and PYUSD are growing fast. What stood out: → This isn’t just about volume. It’s about real usage — Pakistan, Vietnam, Nigeria are showing how deep adoption runs. → Stablecoins are the new “USD” in markets where people don’t trust their local currency. → The stablecoin sandwich model (on-ramp → stablecoin → off-ramp) is quietly replacing SWIFT. At Transak, we’re building for this. From retail remittances to enterprise stablecoin APIs, we’re enabling the next wave. 🇮🇳 India is leading. And we’re just getting started.

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