The Daily Peg
Tether is turning into a major venture capital force and regulator frameworks are shifting in favor of crypto and stablecoins.
Industry news
Tether’s Massive Cash Reserves Are Positioning It As a Major Venture Capital Force
Tether is leveraging its large profits to invest heavily in startups, expanding beyond stablecoin issuance.
https://pitchbook.com/news/articles/stablecoin-issuer-tether-has-so-much-cash-that-its-becoming-a-vc
Mastercard to Acquire Stablecoin Infrastructure Firm BVNK in $1.8 Billion Deal
TransFi Raises $19 Million To Expand Global Crypto Payments Infrastructure
https://www.theblock.co/post/394045/transfi-raises-19-million?
PayPal Expands PYUSD Stablecoin Availability to 70 Countries
https://www.theblock.co/post/393911/paypal-expands-pyusd-stablecoin-access-to-70-markets?
Regulation
SEC Issues New Guidance Clarifying Crypto Asset Regulation
SEC And CFTC Signal Most Digital Assets Are Not Securities In New Guidance
https://www.theblock.co/post/394018/sec-cftc-crypto-guidance-declaring-most-digital-assets-are-not-securities
US Lawmakers Explore Stablecoin Yield Compromise In Ongoing Crypto Bill Negotiations
https://decrypt.co/361456/tim-scott-crypto-bill-stablecoin-yield-compromise
FDIC Signals Potential Policy Shift On Stablecoin Regulation And Banking Integration
https://finance.yahoo.com/news/fdic-stablecoin-move-161300247.html
Statecraft
Tether CEO to Attend Event with Donald Trump at Mar-a-Lago
Deep thoughts
The “Stablecoin Sandwich” Phenomenon Raises Structural Market Questions
https://www.linkedin.com/pulse/curious-case-stablecoin-sandwich-lars-hupel-u012f/
Jack Dorsey Reaffirms Strong Preference For Bitcoin Over Other Digital Assets
https://finance.yahoo.com/news/jack-dorsey-reiterates-bitcoin-preference-122719635.html
ECB Faces Calls To Ensure Digital Euro Is Inclusive And Worker-Focused
https://www.project-syndicate.org/commentary/ecb-digital-euro-must-be-inclusive-needs-feedback-from-workers-by-esther-lynch-and-oliver-roethig-2026-03
Analysis
Tokenized Collateral Gains Traction As Next Frontier In Financial Innovation
A Nasdaq report outlines how tokenized collateral could improve efficiency and liquidity in financial markets.
https://www.nasdaq.com/solutions/fintech/resources/reports/making-the-case-for-tokenized-collateral
Stablecoins Are Rapidly Evolving Into Core Financial Infrastructure Layers (H/T Kiffmeister)
https://www.linkedin.com/posts/ramzi-amairi-6079047_when-cash-turns-to-code-activity-7439269641492856834-b97z
“Stablecoins are more than just a crypto trade; they represent a fundamental shift in payments and financial infrastructure. The companies highlighted in this note offer diverse exposure to this ecosystem, ranging from private issuers creating on-chain dollars to exchanges distributing them, platforms delivering them to consumers, and payment networks settling trillions in annual commerce. Together, they provide a multi-faceted perspective on what is already shaping up to be one of the defining financial infrastructure transformations of this decade.”
Natixis, Thematic Research by Eric Benoist and Rita Boutros
Natixis on Tether:
Natixis on Circle
Natixis on PayPal:
Circle Gains Momentum As Stablecoin Outlook Improves For Public Markets
https://www.barrons.com/articles/circle-internet-stock-stablecoin-upgrade-e4dc94e6?
CBDCs
Google Bigtable Paper Referenced in Discussion of CBDC Ledger Design
https://static.googleusercontent.com/media/research.google.com/en//archive/bigtable-osdi06.pdf
Gold stablecoins
Theo Introduces Gold Futures Strategy To Generate Yield Opportunities
https://finance.yahoo.com/news/theo-taps-gold-futures-yield-130107326.html