The Daily Peg
The ECB is embracing euro-denominated stablecoins as a pathway to cheaper international transfers and an independent payment infrastructure.
Industry news
Foreign-Exchange Industry Explores Using Stablecoins to Reduce Settlement Friction, but Adoption Remains Early
https://www.risk.net/markets/7963066/forex-looks-to-flip-the-stablecoin
Market participants see stablecoins such as USDT and USDC as a potential way to enable faster, round-the-clock FX settlement, though real-world integration into FX workflows is still nascent and the efficiency gains remain largely prospective.
Allium Highlights Emerging Model of APIs and Machine-to-Machine Payments Settled Directly in Stablecoins
Analysis
Updated research paper examines stablecoins’ impact on Treasury-bill yields
IMF Data Suggests Stablecoins Function More Like Treasury-Backed Dollar Wrappers Than True Dollar Alternatives
https://finance.yahoo.com/news/stablecoins-aren-t-dollar-alternatives-100216771.html
Reporting citing IMF-related analysis indicates most stablecoins operate primarily as tokenized claims on dollar assets rather than independent monetary alternatives.
Analysts Predict Tether Could Overtake Bitcoin and Ethereum, Highlighting Stablecoin Dominance in Crypto Markets
https://finance.yahoo.com/news/why-tether-forecast-flippening-everything-142512673.html
Forecasts discussed in reporting suggest Tether’s scale could eventually surpass major cryptocurrencies, underscoring the growing systemic importance of dollar-pegged stablecoins.
Regulation
White House Deadline Nears as Banks and Crypto Firms Clash Over Stablecoin Yield Rules
U.S. policymakers, banks, and crypto firms remain deadlocked over whether stablecoins should be allowed to pay yield, a key issue affecting pending legislation and the role of stablecoins in payments and DeFi.
Central banks
Bloomberg: ECB’s Nagel Signals Support for Euro-Denominated Stablecoins as Complement to Digital Euro and Cross-Border Payments
https://www.bloomberg.com/news/articles/2026-02-16/ecb-s-nagel-touts-euro-denominated-stablecoins-for-payments
Bundesbank President Joachim Nagel said euro-denominated stablecoins could help enable cheaper international transfers and support Europe’s push for more independent payment infrastructure alongside a potential digital euro.
Deep thoughts
Paxos Promotes Enterprise Stablecoin Payments and Partnerships Aimed at Bringing Regulated Digital Dollars to Businesses
Paxos highlighted initiatives to expand compliant stablecoin payment capabilities for enterprises, part of a broader push to position regulated stablecoins as mainstream financial infrastructure.