Stable News is Lumx's weekly curation dedicated to tracking the major moves in stablecoins, digital infrastructure, and the future of global payments.
The week saw simultaneous progress on multiple fronts: DoorDash adopted stablecoins for dasher payments via Tempo, Mastercard announced card settlement with SoFiUSD, the Qivalis consortium formalized 12 European banks for a regulated euro stablecoin, the UK redesigned its payments framework, and Tether launched its own wallet for its 570 million users.
What we're witnessing is an accelerated transition of stablecoins from a topic of debate to operational infrastructure.
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DoorDash adopts stablecoins for payments via Tempo
In brief:
Partnership with Tempo to pay dashers in stablecoins across 40+ countries
Settlement in under 1 second, with fees of one-tenth of a cent
Tempo launches advisory unit with dedicated engineers for integrations
DoorDash has partnered with Tempo, a payments blockchain launched by Stripe and Paradigm, valued at $5 billion, to offer stablecoin payments to dashers and merchants in more than 40 countries. The initial focus is on cross-border flows where settlement speed and conversion costs have the greatest impact.
Tempo operates with fees of one-tenth of a cent, sub-second settlement, and no native gas token. That same week, the company launched an advisory unit with dedicated engineers to help businesses integrate stablecoins, signaling that the adoption bottleneck has shifted from technology to implementation capacity.
Mastercard announces card settlement with stablecoins via SoFiUSD
In brief:
SoFi Bank will use SoFiUSD to settle credit and debit transactions on the Mastercard network
Galileo opens the functionality to other banks and fintechs
Multi-Token Network will support stablecoins, tokenized deposits, and digital currencies
Mastercard announced the integration of stablecoins into the card payment settlement process, in partnership with SoFi Technologies. SoFi Bank will begin settling credit and debit transactions using SoFiUSD, a stablecoin issued by a US-regulated bank with 1:1 reserves.
Galileo Financial Technologies, SoFi's payments infrastructure arm, will open this functionality to other banks and fintechs in its network. The capability is built on Mastercard's Multi-Token Network (MTN), which supports stablecoins, tokenized deposits, and digital representations of fiat currency, enabling 24/7 blockchain settlement, independent of traditional clearing windows.
12 European banks formalize Qivalis consortium for euro stablecoin
In brief:
Banca Sella, BBVA, BNP Paribas, CaixaBank, Danske Bank, DekaBank, DZ BANK, ING, KBC, Raiffeisen, SEB, and UniCredit
Fireblocks provides tokenization infrastructure with ERC-20F standard
Launch expected in the second half of 2026 via the Dutch central bank
The Qivalis consortium formalized the participation of 12 European banks in building a fully regulated euro stablecoin under MiCAR. Fireblocks, which processed $6 trillion in stablecoin volume in 2025, was selected as the infrastructure provider.
The market context is telling: despite global market cap surpassing $320 billion, 99% of stablecoin supply is dollar-denominated. Euro stablecoins account for just $650 million. Authorization is expected through De Nederlandsche Bank, with a launch in the second half of 2026.
UK reforms payments framework to integrate stablecoins
In brief:
HM Treasury creates unified framework for traditional and tokenized payments
Chris Woolard (former interim FCA CEO) appointed Wholesale Digital Markets Champion
Regulation will cover transactions conducted by AI agents
HM Treasury announced a reform of the UK's payments framework, creating a unified structure for traditional payments, stablecoins, and tokenized deposits. Chris Woolard, EY partner and former interim CEO of the FCA, was appointed Wholesale Digital Markets Champion to lead the buildout of tokenized wholesale financial market infrastructure.
Companies will be able to apply for authorization starting September 30, 2026, with full rules coming into force in October 2027. The package also includes exploration of how regulation should adapt to transactions conducted by AI agents.
Tether launches its own wallet for USDT, Bitcoin, and tokenized gold
In brief:
Tether.Wallet is self-custodial, supporting USDT, USAT, XAUT, and Bitcoin (including Lightning)
Human-readable identifiers replace complex hexadecimal addresses
Fees paid in the transferred asset, no separate gas token required
Tether launched Tether.Wallet, a self-custodial wallet supporting USDT and XAUT on Ethereum, Polygon, Plasma, and Arbitrum, as well as USAT and Bitcoin via mainnet and Lightning Network. Users can send funds using human-readable identifiers, and fees are paid directly in the asset being transferred. With 570 million people already using Tether's technology, the wallet is the company's most direct move into end-user infrastructure.
Stablecoins are being integrated into existing financial infrastructure, and the pace of that transition increasingly depends less on regulation, which is still actively developing, and more on execution capacity.
See you next edition.
