The Daily Peg
Behold, the first edition of our daily linkfest!
Welcome to the first edition of what will soon be our daily stablecoin and CBDC linkfest. This inaugural issue is deliberately jam-packed, as we’re catching up on noteworthy developments we missed since our last comprehensive Weekly Peg. As a result, you’ll find a higher-than-usual number of older—but still highly relevant—links in today’s roundup.
Going forward, each edition will primarily feature links surfaced within the past 24 hours. In some cases, that may still include older items, but only when they’ve newly come onto our radar during that cycle.
Industry News
Gold-Backed Stablecoins Near $4 Billion as Safe-Haven Demand Grows Onchain
https://www.theblock.co/post/382582/gold-backed-stablecoins-near-4-billion-as-safe-haven-demand-grows-onchainBinance Adds Trading Pairs for Trump-Backed World Liberty Stablecoin
https://www.theblock.co/post/382240/binance-elevates-trump-backed-world-libertys-stablecoin-by-adding-usd1-trading-pairsTether and HoneyCoin Collaborate to Expand Stablecoin Access Across Africa
https://tether.io/news/tether-and-honeycoin-collaborate-to-expand-stablecoin-access-across-africaSony Bank Advances Stablecoin Initiative
https://www.theblock.co/post/380857/sony-bank-stablecoinKakaoBank Pushes Forward With Stablecoin Plans
https://www.theblock.co/post/380493/kakaobank-advances-stablecoin-initiativeTether-Pegged USDT0 Omnichain Stablecoin Passes $50 Billion in Transfers
https://www.theblock.co/post/380434/tether-pegged-usdt0-omnichain-stablecoin-passes-50-billion-in-cumulative-transfersKlarna Launches KlarnaUSD as Stablecoin Transactions Hit $27 Trillion
https://www.klarna.com/international/press/klarna-launches-klarnausd-as-stablecoin-transactions-hit-usd27-trillionYield Compression Triggers 50% TVL Drop in USDe Despite Rising Usage
https://www.theblock.co/post/380210/yield-compression-triggers-50-tvl-drop-in-usde-despite-rising-onchain-usageRevolut Explains 1:1 Stablecoin Conversion Model
https://www.revolut.com/blog/post/1-1-stablecoin-conversion/
Statecraft
Cryptocurrency in Ethiopia: How Bitcoin and Stablecoins Became a Financial Lifeline
https://www.disruptionbanking.com/2025/11/27/cryptocurrency-in-ethiopia-how-bitcoin-and-stablecoins-became-a-financial-lifeline-in-2025China Reaffirms Crypto Ban, Warns of Intensified Stablecoin Crackdown
Central Banks Will Eventually Hold Bitcoin Reserves, Deutsche Bank Says
https://fortune.com/2025/10/07/central-banks-bitcoin-reserves-backed-by-nothing-deutsche-bankHas Gold Been Tethered?
https://www.reuters.com/markets/europe/has-gold-been-tethered-2025-11-25Why Dollarization May Solve Stablecoin Off-Ramping in Emerging Markets
Regulation
Moody’s Proposes Stablecoin Ratings Framework Focused on Reserve Quality
https://www.theblock.co/post/382422/moodys-proposes-stablecoin-ratings-framework-focused-on-reserve-qualityStablecoin Yield Debate Stalls Congressional Crypto Bill Progress
https://cryptoslate.com/stablecoin-yield-debate-stalls-congressional-crypto-bill-progressUK Financial Promotions Regime Is Killing Stablecoins, Aave Founder Says
Under the GENIUS Act, Stablecoin Holders Rank Fifth in Bankruptcy
https://creditslips.org/2025/12/02/sorry-to-break-it-to-you-geniuses-under-the-genius-act-the-holders-of-stablecoins-actually-have-fifth-priority-in-an-issuer-bankruptcyUK FCA Sets Out Growth-Focused Regulatory Approach
https://www.fca.org.uk/publication/correspondence/growth-approach-pm-letter-december-2025.pdfEuro Stablecoin Market Shifts to Harmonized Framework After MiCA
https://www.linkedin.com/feed/update/urn:li:activity:7407443364935053313
Deep Thoughts
Why Stablecoins Could Destroy the Euro — and How Brussels Can Respond
https://www.dlnews.com/articles/regulation/how-stablecoins-have-the-potential-to-destroy-the-euroThe Case for a New Floating-Rate Treasury Note
https://www.brookings.edu/articles/the-case-for-a-new-floating-rate-treasury-noteTether in 2025: A Capital Analysis
Why S&P’s Tether Analysis Missed the Equity Buffer Story
https://x.com/izakaminska/status/2003141342742929831
How Tether’s Equity Buffer Is Quietly Rewriting Monetary Stability
Central Banking
ECB: Digital Euro Key to Strategic Autonomy in the Digital Age
ECB Warns Stablecoin Shock Could Jeopardize Markets
https://www.dlnews.com/articles/markets/ecb-warns-stablecoin-shock-jeopardises-markets-as-sector-set-to-hit-4-trillionStablecoins on the Rise: Still Small in the Euro Area but Growing
https://www.ecb.europa.eu/press/financial-stability-publications/fsr/focus/2025/html/ecb.fsrbox202511_05~63636227b4.en.htmlECB: Stablecoin Issuers Hold Assets Comparable to Major Money Market Funds
ECB Questions Claims About Stablecoin Use in Emerging Markets
Stablecoin Boom Requires Close Monitoring of Risks, ECB Says
https://www.bloomberg.com/news/articles/2025-11-24/stablecoin-boom-requires-close-monitoring-of-risks-ecb-saysDigital Assets Pose Challenges to Competitiveness and Market Integrity
https://www.esrb.europa.eu//news/speeches/date/2025/html/esrb.sp251203~359226fd30.en.html
Analysts
Polygon Executive Predicts Super Cycle of 100,000 Stablecoins
https://thefintechtimes.com/polygon-exec-predicts-super-cycle-of-100000-stablecoins-as-banks-fight-to-retain-capitalBlackRock’s Larry Fink and Rob Goldstein on Tokenization’s Future
https://www.theblock.co/post/381046/blackrock-larry-fink-rob-goldstein-tokenizationSolana Foundation’s Vibhu Norby Predicts the Future of Stablecoins
Tether Bought More Gold Than Every Central Bank Last Quarter
S&P Raises Concerns Over Tether Asset Transparency
BIS Flags Rise of Tokenized Money Market Funds
CBDCs
Deutsche Bank Maps the Global Status of CBDC Projects
How Much Airtime Central Bankers Have Given CBDCs This Decade
Academics
An Empirical Analysis of Stablecoin Payment Usage on Ethereum
https://www.artemisanalytics.com/resources/an-empirical-analysis-of-stablecoin-payment-usage-on-ethereumYield-Bearing Assets and Stablecoins Report 2025
https://blog.redstone.finance/2025/11/12/yba-reportIMF Discussion Paper on Digital Money and Stablecoins
https://www.imf.org/-/media/files/publications/dp/2025/english/usea.pdf