Stablecoins & Markets
Kim Min-jun
Coverage focuses on reserves, redemption and the flow of money through digital-asset markets.
View articlesExplainers & Analysis: Settlement
Stablecoin-to-USD Settlement: From Deposit to Treasury
How a USDC liquidation address, customer account and treasury transfer form a stablecoin-to-USD settlement flow.
Blockchain Finality vs Settlement Finality
Why a finalized block and a legally final payment are different states, and how to design for both.
Intraday Liquidity: How Banks Fund the Payment Day
Why a bank can be liquid at day-end but still need funds before a payment deadline.
Gross vs Net Settlement: How Payment Systems Move Money
Gross settlement moves each payment; net settlement offsets obligations before money moves.
Fedwire vs CHIPS: How High-Value Dollar Payments Settle
Fedwire settles payments one by one; CHIPS uses liquidity-saving netting. Here is what that changes in practice.
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.
Payment Versus Payment: What PvP Removes from an FX Trade
Conditional currency settlement reduces principal risk. It still leaves funding, replacement and operational questions.
Correspondent Banking: How Banks Use Other Banks to Pay
The accounts and bank relationships behind cross-border settlement, and the risks a payment message cannot remove.
Paying Suppliers in Stablecoins: Invoice to Settlement
Agree the asset, network and final amount before treating a wallet transfer as a paid invoice.
