News linked to both this project and an event.
Odaily report: KRW1 is issued by BDACS on Avalanche and is pegged 1:1 to the Korean won. Users can pay with KRW1 via Visa card.
Odaily News — Global payments company MoneyGram has launched its first stablecoin Visa card in Colombia, developed with assistance from stablecoin payment infrastructure company Rain. The card is currently available in digital form, allowing users to hold U.S. dollar stablecoin balances within the MoneyGram app and make online and offline payments through the Visa network. Users can also convert their balances into local cash and withdraw at MoneyGram locations. The card initially supports USDC, and MoneyGram plans to add its own stablecoin MGUSD in the near future. The company also plans to launch a physical card by the end of 2026 and expand its business to other Latin American markets first. (The Block)
Odaily News Payment technology company Visa's stablecoin settlement volume has exceeded $20 billion on an annualized basis, growing more than 15-fold from a year ago. Over 160 stablecoin-linked card programs have been launched globally, with related payment volumes increasing nearly 200% year-over-year.Stablecoin card programs require daily settlement before cardholders repay, with some programs needing only a few million dollars per transaction while settling continuously seven days a week. Visa stated that some cryptocurrency-linked card businesses are constrained by working capital adapted to continuous settlement cycles, and on-chain credit can reduce financing costs by up to 30%.Credit Coop, in partnership with Visa, launched a stablecoin-denominated revolving credit facility that has executed over 9,000 on-chain repayments. The platform has accumulated total financing exceeding $2.5 billion, processing over 3,000 borrowings and 9,000 repayments without any defaults. Visa Principal Member Rain has been using this facility to finance daily settlements since August 2023. (Bitcoin.com News)
Visa stated that stablecoin-linked card programs are one of the fastest-growing businesses on its network. In the second quarter of fiscal year 2026, more than 160 stablecoin-linked card programs have launched globally, with related payment volumes growing nearly 200% year-over-year, and the annualized stablecoin settlement volume recently surpassing $20 billion.
According to information provided, the PolyFlow App supports assets such as USD, USDT, and USDC, with stablecoin deposits and withdrawals covering multiple networks including BSC, Ethereum, Tron, and Solana; users can perform in-platform transfers via their PolyFlow UID or registered phone number. Additionally, the PolyFlow Card has been integrated into the app for global spending scenarios supported by the Visa network.
According to CriptoNoticias, data from El Salvador's National Digital Assets Commission (CNAD) shows that 233 new tokens were registered in the country's digital asset market in 2026, with 182 concentrated between July and August, accounting for 78.1% of the annual total. The registered assets encompass tokenized stocks of tech giants including Apple, Microsoft, Nvidia, Amazon, Alphabet, and Meta, alongside financial institutions such as JPMorgan Chase, Bank of America, Visa, and Mastercard. The list also features consumer brands like Walmart, Netflix, McDonald's, and Coca-Cola, as well as tokenized versions of indices and assets such as the S&P 500, NASDAQ 100, gold, and U.S. Treasury bonds. Major issuers include MIO 3 MARKETS 1 (101), Monetae Securities (70), and NexBridge Digital Financial Solutions (27). Additionally, 35 tokens originate from local Salvadoran enterprises, covering corporate bonds, commercial paper, real estate financing instruments, and venture capital agreements.
As reported by Caixin, Han Xinyi, CEO of Ant Group and Chairman of Alipay, presented systematic insights on the global exploration paths for AI payments at the China Payment Clearing Forum. He stated that AI payments have basically coalesced into four exploration paths: The first category comprises payment technology and infrastructure platforms represented by Stripe. The second category consists of cryptocurrency enterprises such as Circle and Coinbase, which primarily rely on stablecoins and their wallet ecosystems. Using cryptocurrencies as payment instruments, they directly enable automated machine-to-machine payment scenarios. The third category features traditional payment networks represented by the two major card organizations (Visa and Mastercard). The fourth category comprises AI platform companies such as Google and OpenAI.
Odaily News: As of August, cumulative top-ups on USDC- and USDT-linked stablecoin cards have reached $13.8 billion, an increase of nearly $10 billion over the past 12 months. Stablecoin cards are shifting USDC and USDT from trading balances toward everyday consumer use cases.USDC currently leads in tracked card spending, while USDT is accelerating its catch-up. The two follow different adoption paths: USDC benefits more from fintech integrations and payment infrastructure, whereas USDT is more active across exchanges, remittances, and emerging markets.On-chain settlement also reflects a multi-chain distribution, with Base leading at approximately $1.2 billion, followed by Solana at $635 million, Polygon at $544 million, and Optimism at $509 million. Networks such as Arbitrum, Scroll, Ethereum, and Stellar are also carrying significant activity.Stablecoin cards still rely on traditional payment networks like Visa and Mastercard, shifting the competitive focus toward custody, FX costs, cashback, and capital efficiency. Meanwhile, Circle has renewed its USDC partnership with Coinbase under the original terms, excluding any dividend arrangements. (Bitcoin.com News)
Odaily News: Cryptocurrency exchange Kraken's payment app Krak has launched a multi-asset debit card in the US, allowing users to spend cryptocurrency and fiat currency, with up to 2% cashback in USD or Bitcoin. The card supports over 600 currencies and assets, converting holdings to USD at checkout. Individual transactions can draw from multiple balances, and users can set their own asset spending order. The card is issued by Lead Bank, connected to the Visa network, and powered by Stripe Issuing. Arjun Sethi, co-CEO of Payward, Kraken's parent company, stated that Payward is expanding its asset classes and financial services, currently offering banking services, and views tokenization as an important component of expanding financial products. Krak said that since its launch in the UK and the European Economic Area in December 2025, it has issued more than 135,000 multi-asset cards. (Cointelegraph)
Odaily News: Peer-to-peer cryptocurrency trading platform NoOnes announced that it will begin gradually winding down operations after running for over three years. The company stated that it had been continuously seeking to resolve and lift the sanctions imposed on NoOnes, but ultimately failed. The sanctions caused the platform to lose key partners, and blockchain monitoring firms also flagged transactions associated with NoOnes as high-risk, making it increasingly difficult for the platform to continue normal operations. According to the plan, the business contraction began on August 17, and the P2P marketplace will close at 23:59 UTC on August 21. Services such as Swap, NoOnes Visa, fiat withdrawals, the gift card store, and the Bitcoin Lightning Network will also be discontinued progressively. After that, the platform will only support withdrawals, and users will still be able to log in, view balances, and withdraw remaining assets. The company advises users to complete asset withdrawals as soon as possible, no later than August 23. Previously, on January 26, 2025, NoOnes revealed that the platform had suffered a major security breach earlier that month, resulting in losses of approximately $8 million in crypto assets. CEO Ray Youssef confirmed the news after on-chain detective ZachXBT disclosed the hacking incident on his Telegram channel.
Odaily News: Payment company Visa is seeking settlement and over-the-counter (OTC) trading partners with cryptocurrency exchange licenses in the United States, Canada, the United Kingdom, and Singapore. The partner will also be responsible for settlement of the newly launched Open USD stablecoin project, which plans to support multiple stablecoins. (CoinDesk)
According to CoinDesk, Visa is seeking new stablecoin settlement and OTC trading partners to replace BVNK, which was previously acquired by Mastercard. Relevant product request documents indicate that Visa expects partners to hold cryptocurrency exchange licenses in the U.S., Canada, the UK, and Singapore, and to support multiple stablecoin conversion and settlement services, including handling settlement for the Open USD stablecoin project promoted by Stripe, Visa, and Mastercard.
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Western Union partners with Rain to launch Stablecard, a Visa card supporting the USD stablecoin USDPT that has gone live in 37 markets and will expand to 60+ markets by year-end, enabling users to hold USD assets and spend on the Visa network.
Western Union has partnered with stablecoin infrastructure provider Rain to launch Stablecard, a digital wallet and Visa-branded card that enables users to hold and spend US dollar-pegged stablecoins. The product is now available in 37 markets, with Western Union planning to expand to more than 60 markets by the end of this year. Stablecard supports USDPT, a US dollar-pegged stablecoin issued by Anchorage Digital Bank and running on the Solana blockchain. Users can directly receive Western Union remittances and transfer funds to compatible crypto wallets and exchanges. Users can also spend their balances at all Visa-accepting merchants, as well as through Apple Pay and Google Pay. Western Union also unveiled USDPT in May and expanded its ecosystem through exchange partnerships in June.
Circle announced the founding validator lineup for its open blockchain network Arc and confirmed that the public mainnet will launch on September 16, 2026. Currently, Arc has onboarded over 100 ecosystem and institutional builders on the private mainnet.
Odaily News: Following the launch of Open USD, concerns arose in the market that it could directly challenge Circle's USDC, leading to a loss of billions of dollars in Circle's market value. Executives from Coinbase, Visa, and Mastercard stated that the companies are advancing a multi-stablecoin, multi-chain strategy, positioning Open USD as an additional network rather than a replacement for USDC. Analysts noted that several Open USD partners have so far made only lightweight commitments, and that project execution capabilities, along with the existing liquidity of USDC and USDT, will be more critical than the scale of the Open USD alliance.
Odaily News: Global remittance giant Western Union has announced the official launch of Stablecard, built on Rain's stablecoin infrastructure. Users can directly receive USDPT, a stablecoin issued by Western Union and minted on Solana via Anchorage Digital Bank, and spend instantly at Visa-accepting merchants worldwide through the integrated Visa card, or choose to withdraw cash. Stablecard initially covers 37 markets, with Western Union planning to expand to over 60 markets by the end of the year. The company stated that stablecoins will help reduce upfront capital requirements for cross-border remittances, improve capital efficiency, and support the launch of additional digital financial services.
Ethereum Institutional (@ethereuminsti) posted that Open Standard's stablecoin project Open USD will be deployed on Ethereum on its first day of launch, having already attracted over 140 enterprises to join, including Visa, Mastercard, Stripe, BlackRock, BNY, and others. All reserve yields will flow to partners driving its growth. Open Standard stated that shared assets require neutral infrastructure, and Ethereum is the deployment platform it has chosen.
Visa CEO Ryan McInerney stated during the earnings call that Visa's role in the stablecoin space is not to pick winners, but to help clients securely and scalably connect to the stablecoin ecosystem.Last month, Visa joined forces with over 140 companies, including Stripe, Mastercard, BlackRock, and Coinbase, to support Open Standard, which plans to launch the stablecoin Open USD (OUSD) later this year. Following the announcement, market speculation arose that OUSD could challenge Tether's USDT and Circle's USDC.When asked whether Visa views OUSD as a competitor to USDT and USDC, McInerney said that Visa will maintain a "multi-currency, multi-chain" strategy going forward and will not bet on a single stablecoin, network, or infrastructure.He stated that Visa's goal is to support clients in accessing the stablecoin ecosystem, regardless of which stablecoin, network, or underlying infrastructure is ultimately adopted.Ark Invest analyzed that Visa is clearly interested in Open USD, but this does not necessarily mean it views OUSD as an exclusive strategic bet. Overall, Visa appears to be keeping its participation open at the stablecoin infrastructure level, rather than directly aligning with a specific stablecoin issuer.