Stablecoins & Markets
Kim Min-jun
Coverage focuses on reserves, redemption and the flow of money through digital-asset markets.
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The Brief
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Fed Proposes Rules for Payment Stablecoin Issuers
Two proposals cover reserves, capital, risk controls and an application process for firms under Fed supervision.
SoFiUSD Settlement Goes Live on Mastercard
SoFi says transactions are live as it migrates its card program to stablecoin-based settlement.
Eurosystem Launches Pontes for Tokenized Settlement
The service connects wholesale tokenized-asset transactions with settlement in central bank money.
How Digital Money Works
View allTokenized Deposits and Stablecoins: The Difference
A digital token does not tell you who owes the money. Start with the claim behind it.
The Full Cost of a Cross-Border Stablecoin Payment
A complete payment-cost model, worked examples and World Bank data for comparing what the recipient really receives.
What Happens When You Redeem a Stablecoin?
Selling a token and redeeming it with its issuer are different transactions. Here is where the dollars come from.
Inside the Stablecoin
View allMoney in Motion
View allThe Reading List
View allWho Regulates a Stablecoin?
The issuer, the service and the customer's market can fall under different rules and authorities.
The Travel Rule: What Travels With a Crypto Transfer?
The payment moves on a network. Required sender and recipient information is a separate data process.
Tokenized Treasury Funds: What Investors Hold
A token can represent a fund share—not a Treasury bill in your wallet and not a payment stablecoin.
Where DeFi Lending Yields Come From
Borrower interest can fund supplier returns. A quoted rate is neither fixed nor a guarantee of withdrawal.
Who Controls a Smart Wallet?
Look beyond the login screen: signing rules, recovery powers and upgrades determine control.
How Banks Hold Digital Assets for Clients
Custody is about authority, records and recovery—not simply putting a key in a vault.
