A consortium of 21 major financial institutions—including Bank of America, Citi, Goldman Sachs, Deutsche Bank, UBS, Fidelity Investments, Wells Fargo and MUFG—has agreed to form a new company in the second half of 2026 to support stablecoin issuance. The group aims to roll out a U.S. dollar-denominated stablecoin in the first half of 2027. It plans to expand to additional G7 currency stablecoins thereafter, with the euro identified as the top priority. The planned stablecoin is intended for wholesale, institutional and retail applications, including cross-border payments and digital-asset settlement. The consortium said the project is expected to align with the U.S. GENIUS Act and, where applicable, the EU's MiCA framework.

Ethena Pay has launched a consumer banking-style app built exclusively on Avalanche, aiming to make digital-dollar accounts feel like mainstream mobile banking. The app combines USDe balances, transfers, payments and settlement in a single interface. Ethena said it has processed more than $30 billion through its mint and redeem systems, and that USDe is now integrated across more than 100 platforms and protocols. Ethena Pay is designed to extend that infrastructure from trading and investment use cases into everyday financial activity. The company said users can hold balances, move between fiat and digital dollars, send funds domestically or internationally, and spend through Visa's network of more than 130 million merchants. Avalanche is used to process USDe transfers and settlement, while the front end is built to resemble conventional digital banking. The product reflects a broader push to hide blockchain mechanics behind familiar user experiences. Ethena argues that digital dollars become more useful when consumers can earn, hold, send and spend them without needing to choose a chain or understand settlement. Ethena Pay is live on iOS in more than 50 countries. Ethena said Android support, as well as access in the U.S. and European Union and multicurrency accounts, are expected to follow later.

The U.S. Department of Commerce is using Chainlink to publish major macroeconomic indicators onchain, including real GDP, the PCE Price Index, and real final sales to private domestic purchasers.

According to ME News, as of September 1 (UTC+8), eligible investors can stake shares of Securitize's HINC on Loopscale to borrow USDG without having to redeem their positions. HINC invests in high-yield corporate bonds and CLO tranche assets, with Neuberger Berman acting as sub-advisor, and carries a minimum subscription of $100,000. Loopscale has already enabled the use of ACRED and SECZ as collateral. HINC's net asset value is refreshed daily and published on-chain via RedStone, which Loopscale relies on for pricing and liquidation triggers. Loopscale currently reports $91.3 million in total value locked, including $55.9 million in active loans. (Source: ODAILY)

Stablecoins have become the dominant destination for Argentina's peso-based crypto trading, underscoring how deeply "digital dollars" are embedded in the local market. Data from Artemis, cited by a16z crypto, indicates that stablecoins account for 94% of crypto trading volume denominated in Argentine pesos (ARS) — the highest share among major fiat currencies tracked. In practice, swapping pesos into crypto increasingly means moving into dollar-linked tokens. a16z crypto's late-August report also points to broadening adoption: about one in five Argentines now uses cryptocurrency. App demand has accelerated as well. Downloads across Argentina's 15 largest crypto applications rose 93% year over year in 2024, and Lemon's downloads increased in every quarter covered by a16z, even as inflation gradually eased. Argentina's preference for dollar exposure is long-standing, with many households historically saving in U.S. dollars rather than relying solely on pesos. That trend intensified after capital controls returned in 2019, when individuals were ultimately capped at $200 per month for official dollar purchases and additional eligibility rules further restricted access. Crypto markets offered an alternative path. Through exchanges and peer-to-peer venues, users could buy USDT or USDC, hold them, transfer between wallets, or use them for cross-border payments. Unlike traditional banking channels, these markets operate 24/7. The 94% figure reflects trading flows in ARS, not the full composition of crypto holdings. Lemon's 2024 report illustrates the difference: Bitcoin made up more than 36% of assets held via Lemon, stablecoins about 27%, and Argentine pesos roughly 18%, with the remaining 19% in other altcoins. This suggests that trading activity tilts more heavily toward dollar conversion than longer-term wallet balances. Digital-dollar usage expanded through a volatile inflation cycle. Monthly inflation peaked at 25.5% in December 2023, while annual inflation later hit 289% in April 2024. a16z indexed contractor USDC payments and inflation to January 2024 levels, without disclosing the absolute share of contractors paid in USDC. By July 2026, both indexed series had fallen to around one-fifth of their respective highs. Over the same period, monthly inflation eased to 2.1% in July from 1.9% in June, and annual inflation stood at 33.8%, according to Argentina's central bank. Crypto usage did not retreat in tandem, with Lemon downloads continuing to rise across the quarters in a16z's comparison. Market dynamics shifted again after foreign-exchange rules were loosened. On April 11, 2025, the central bank lifted limits on individual purchases of foreign currency. In April 2025, individuals bought $2.25 billion in foreign assets following the change. The reforms also narrowed the spread between the official dollar rate and alternative markets. In 2023, the gap between official and parallel rates exceeded 100% at times, and stablecoins often traded closer to parallel-market pricing while official access was constrained. By August 28, 2026, a16z estimated a digital dollar cost about 4% more than an official-market dollar. Even with easier official access, stablecoins still represent the bulk of peso-denominated crypto trading volume. Market participants note, though, that stablecoins carry risk profiles that differ from holding physical dollars or keeping funds in regulated bank deposits. The post "Stablecoin News: Argentina Sees Stablecoins Dominate Peso Crypto Trading" appeared first on The Coin Republic.

Twenty-one major financial institutions including Bank of America, Goldman Sachs, Citigroup, Wells Fargo, Deutsche Bank, UBS and Mitsubishi UFJ plan to form a new company in the second half of 2026 to develop stablecoin solutions, PR Newswire reported. The group said the stablecoin would be fully reserved on a 1:1 basis, launching first with U.S. dollar-denominated products and later expanding to other G7 currencies, with the euro slated as the next priority. The first products are expected to go live in the first half of 2027, targeting wholesale, institutional and retail use cases such as cross-border payments and digital-asset settlement. The venture said it will operate in line with the U.S. GENIUS Act and the EU's MiCA framework.

THE BLOCK reports that stablecoin-powered remittance startup Félix Pago has secured $200 million in fresh funding. The raise includes an $87 million Series C equity round led by a16z crypto, along with a $113 million credit facility from General Catalyst's Customer Value Fund. The company plans to broaden its offering beyond remittances into lending, savings and yield products, and to expand into additional markets including Brazil and Venezuela.

BitMine disclosed in a filing that it has purchased 53,501 ETH for approximately $131 million, adding Ethereum to its corporate treasury and offering another data point in how public companies are expanding beyond Bitcoin-only balance-sheet strategies. The move comes as investors increasingly track how listed firms use digital assets as reserve holdings. Bitcoin remains the dominant treasury asset, but Ethereum is drawing more attention as companies look for exposure tied to staking, settlement activity, tokenization, and smart-contract infrastructure. BitMine’s allocation stands out for its scale. A $131 million, nine-figure purchase is large enough to be considered a deliberate treasury decision rather than a pilot position. It also places the company among a more visible cohort of public firms using crypto holdings as part of their broader corporate positioning. The trade-off is heightened balance-sheet sensitivity to market moves. Strong ETH performance could support investor interest, while drawdowns could make treasury volatility a central factor in how the stock is priced. That risk sits alongside the company’s core operating narrative, which is why these strategies can be consequential for shareholders. The disclosure should not be read as Ethereum displacing Bitcoin in corporate treasuries. Bitcoin continues to carry the clearest reserve-asset identity for companies seeking simpler crypto exposure without staking or protocol considerations. Ethereum offers a different profile—potential upside linked to network usage, stablecoin settlement, and programmable finance—paired with distinct risks such as protocol upgrades, regulatory interpretation, staking-market dynamics, and competition among smart-contract platforms. Investors will now focus on how BitMine manages the position, including whether the company plans to hold ETH passively, stake any portion, increase the allocation, and how it will communicate crypto-related balance-sheet risks. Reporting clarity around custody, valuation, risk controls, and any changes to the position will be key. The immediate headline is clear: BitMine has added 53,501 ETH in a major corporate treasury acquisition. The broader takeaway is that Ethereum is becoming harder for public-company treasury watchers to ignore. This report is based on BitMine’s SEC disclosure related to the ETH acquisition and information released via the SEC platform. It was written by the News Desk and edited by Samuel Rae.