Stablecoin

A group of ten major European banks, including Italy's Banca Sella and UniCredit, plans to issue Qivalis, a MiCA-compliant stablecoin pegged to the euro and expected to go live in the second half of 2026. The initiative aims to bridge traditional finance and blockchain in a market where about USD 300 billion in stablecoins are mostly dollar-denominated, but some observers question its adoption prospects and transaction costs.

A UAE-backed investment vehicle acquired a 49% interest in World Liberty Financial, the Trump family's cryptocurrency firm, for $500 million under a deal signed on January 16, 2025, four days before Donald Trump's second inauguration. The investment was structured in two $250 million tranches, altered the Trump family's equity stake, and granted the Emirati side a 49% holding via Aryam Investment 1. The company issues the USD1 stablecoin, which was later used to settle a $2 billion crypto investment, while separate U.S.-UAE agreements covered access to Nvidia AI chips in 2025.

On February 3, 2026, Tether Holdings revealed it has built a gold position of about 140 tons worth $23 billion, placing it among the world's largest private bullion holders. The company bought over 70 tons last year for reserves and its XAUT gold-backed stablecoin and is currently adding more than a ton per week, while XAUT has climbed nearly 4% in 24 hours and posted strong weekly and monthly gains.

Tether has introduced open-source mining libraries aimed at improving efficiency for WhatsMiner, Avalon, and Antminer rigs, making Bitcoin hashrate optimization more accessible. At the same time, Bitcoin Hyper is presenting itself as a Bitcoin Layer 2 using the Solana Virtual Machine, combining Bitcoin settlement with high-speed execution. The project's presale has surpassed $31M, and large on-chain purchases suggest growing interest, though participation in such tokens involves significant risk.

In 2025 Q3, the IMF reports the renminbi at 1.93% of global FX reserves, about $251 billion within a $13 trillion pool, while the dollar holds 56.92%. Amid capital controls, Chinese traders and exporters increasingly use USDT and Bitcoin, and stablecoins in circulation exceed $305 billion, according to Artemis.

The White House convened crypto industry groups, exchanges, and Wall Street banks at the Eisenhower Executive Office Building on Monday to negotiate the U.S. crypto market structure bill, focusing on whether exchanges can offer yield on stablecoins. Participants were instructed to reach a compromise on stablecoin rewards by the end of this month, with trade groups describing the meeting as a constructive step toward bipartisan legislation. Senior administration officials said recent talks have resolved several difficult policy disputes and expressed confidence that the remaining issues on stablecoin yields can also be settled.

On Monday, Tether said it will expand support for USDt (USDT) and Tether Gold XAUT in Opera's MiniPay wallet, which runs on the Celo blockchain. The move targets users in regions such as Africa, Latin America and Southeast Asia, where MiniPay reports 12.6 million activated wallets and more than 350 million processed transactions.

Updated on February 3, 2026, the White House brought together crypto firms and Wall Street banks to negotiate whether stablecoins should carry yields, with an objective to reach a deal before the beginning of March, according to people familiar with the private talks. Banking groups said they are prepared to collaborate, while industry advocate Cody Carbone described the meeting as meaningful progress despite no immediate agreement.

New York Attorney General Letitia James and Manhattan District Attorney Alvin Bragg sent a letter to Congressional leaders criticizing the GENIUS Act. According to CNN, they contend the law lets issuers keep interest on assets backing flagged coins rather than prioritizing restitution; Chainalysis reports illicit crypto flows hit $154 billion in 2025 with stablecoins at 84%.

On February 2, Bitcoin fell to $74,532 after losing the $80,000 handle, then traded near $79,000 on February 3 following a 2.05% rebound. Markets dropped about $250 billion around Kevin Warsh’s Fed nomination, while a White House summit on stablecoin yields could tighten liquidity. Strategy added 855 BTC for $75.3 million, taking holdings to 713,502 BTC.