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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Visa Direct Stablecoin Prefunding Moves to Production With USDC
Visa Direct clients on Inyo Global's platform can now prefund cross-border payouts with USDC in near real time.
EBA Names USDC the EU's First Significant E-Money Token
From November 12, 2026, the EBA takes over supervision of USDC's own funds, reserve, liquidity and redemption plans from France's ACPR.
Circle cirBTC Wrapped Bitcoin Goes Live
Circle outlines custody, reserves and redemption tests as cirBTC launches on Arc and Ethereum.
How Digital Money Works
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Tokenized 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
The full cost of a cross-border stablecoin payment, with a cost model, worked examples and World Bank data.
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
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USDT vs USA₮ vs USDT0: Issuer, Redemption and Bridge Risk
USDT, USA₮ and USDT0 share a dollar target but differ in issuer, redemption rights and cross-chain risk.
USDC on Base: How to Send It and Pay Gas in ETH
How to send USDC on Base, verify the contract and network, keep ETH for gas, and avoid unsupported deposits.
USDC on Polygon: Native USDC vs USDC.e
Check native USDC, USDC.e, Polygon PoS gas in POL and destination support before sending.
Money in Motion
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How Businesses Accept Stablecoin Payments
A stablecoin checkout needs a payment intent, supported chain, settlement record, refund policy and reconciliation.
Payment Versus Payment: What PvP Removes from an FX Trade
Conditional currency settlement reduces principal risk. It still leaves funding, replacement and operational questions.
How Crypto Cards Turn Tokens Into Merchant Payments
A card funded with stablecoins does not mean the shop receives a blockchain transfer.
The Reading List
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UETR Payment Tracking: How Banks Trace a Swift Transfer
How a 36-character UETR helps banks trace a Swift payment—and what it cannot prove.
Stablecoin Reserves in Bank Deposits: Why Issuers Hold Cash at Banks
Redemptions are paid in bank money, so issuers keep part of the reserve at banks. MiCA sets a minimum; March 2023 showed the risk.
Stablecoin FX: How a USDC-to-EURC Trade Settles Onchain
Onchain FX keeps the market price but changes settlement: an escrow contract releases both stablecoins together, or neither.
BEP-20: BNB Smart Chain Tokens and BNB Gas
BEP-20 tokens run on BNB Smart Chain. Check the contract, BNB gas, network and destination before sending.
USDC to USDT: How to Convert Without Mixing Networks
A practical USDC-to-USDT checklist for exchange conversions, wallet swaps, fees and network matching.
Canada's Stablecoin Act: How the Bank of Canada Will Regulate Issuers
Canada's Stablecoin Act puts non-bank issuers under the Bank of Canada: registration, a full reserve, redemption at par and no interest. Most of it is expected in force in 2027.
