The UAE central bank has approved USDU, the country’s first US dollar-backed stablecoin, allowing regulated institutions to use it for digital asset payments and settlement. Issued by Universal Digital and fully backed by US dollars held in local banks, the token operates under strict regulatory oversight.

Fidelity is launching its first stablecoin, the Fidelity Digital Dollar, on the Ethereum blockchain, backed by cash and short-term U.S. Treasuries. The move shows large financial firms are becoming more open to using public blockchains for payments and settlement.

Bitcoin and major cryptocurrencies fell sharply as investors shifted money into gold and silver, which hit record highs during market uncertainty. Dogecoin co-founder Billy Markus mocked the move with a meme, highlighting how many traders mistimed the switch.

Arizona lawmakers advanced two bills to exempt cryptocurrencies from property taxes, with one proposing a constitutional amendment for voter approval in November. The measures aim to clarify crypto taxation despite previous vetoes from Governor Katie Hobbs.

Standard Chartered says U.S. banks could lose more than $500 billion in deposits to dollar-backed stablecoins by the end of 2028, with regional banks most at risk. The shift is driven by faster, easier stablecoin payments and growing demand for yield, which is pulling money away from traditional bank accounts.

A former U.S. Securities and Exchange Commission lawyer has publicly backed Ripple’s argument that speculation alone should not automatically subject cryptocurrencies to federal securities laws, weighing in on a growing regulatory battle as lawmakers debate the CLARITY Act and the future of U.S. crypto oversight.

Tether increased its gold exposure by about 27 tonnes in the fourth quarter of 2025, bringing its buying pace closer to that of major central banks as it expanded reserves backing its stablecoins. The move came as gold prices hit record highs above US$5,000 per ounce, driven by strong demand from investors, central banks and retail buyers.

DXC Technology has partnered with Ripple to integrate digital asset payments and custody into the Hogan core banking platform, used by banks managing over $5 trillion in deposits. The setup lets banks offer crypto services without changing their existing systems.

Vietnam has started accepting applications for licensed cryptocurrency exchanges under a new pilot programme requiring nearly $400 million in capital and strict local ownership rules. The scheme is limited to Vietnamese companies and aims to bring the country’s crypto market under formal government oversight for the first time.

Hong Kong plans to issue its first stablecoin licences in the first quarter of 2026 as part of its wider push to develop a regulated crypto ecosystem. The city already licences cryptocurrency trading platforms and has been advancing tokenisation projects, including green bonds and digital asset pilots.