Stable News is Lumx’s weekly curation dedicated to highlighting the most relevant movements in stablecoins, tokenization, and digital payments across the global economy.
This week, Stripe surprises the market by launching its own blockchain and reaching a $5 billion valuation. Meanwhile, Japan and Singapore consolidate themselves as strategic hubs in Asia’s race for digital currencies, the U.S. OCC adopts a more constructive stance toward stablecoins, and a veteran investor reignites the debate about the power, and risks, of privately issued digital money.
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Tempo, Stripe’s blockchain, reaches a $5 billion valuation
Stripe, one of the world’s largest payment companies, saw its new blockchain Tempo reach a $5 billion valuation following a $500 million round led by Thrive Capital and Greenoaks.
Announced in September, the project introduces a Layer-1 blockchain optimized for payments and stablecoins, designed for scalability and enterprise use. According to Stripe, existing blockchains “were not built to handle the volume and requirements of the global financial system,” and Tempo was created to fill that gap.
With support from Paradigm and technical teams from open-source projects, Stripe is positioning itself as a direct competitor to Circle (USDC) and other networks developing the decentralized infrastructure of digital finance.
Why it matters:
✅ Stripe officially joins the race for the foundational layer of global financial infrastructure.
✅ It represents the institutionalization of the “fintechs becoming infrastructure” thesis.
✅ Shows how the GENIUS Act has opened a new frontier: fintechs, banks, and issuers now competing for control of digital liquidity.
Asia races for stablecoin leadership
While the U.S. consolidates the regulatory framework through the GENIUS Act, Asia is moving fast to define its own stablecoin models.
Japan leads with a consortium of major banks, MUFG, Mizuho, and Sumitomo Mitsui, planning to issue a yen-backed stablecoin by 2026. Meanwhile, China maintains a more restrictive stance, blocking initiatives in Hong Kong and reinforcing state control over digital liquidity infrastructures.
In contrast, Singapore is taking the opposite route. The XSGD, issued by StraitsX under supervision from the Monetary Authority of Singapore, has become a benchmark for transparency and regulatory best practices in the region.
Why it matters:
✅ Asia is establishing itself as the world’s regulatory laboratory for stablecoin frameworks.
✅ Japan is emerging as an institutional hub, while Singapore remains the region’s innovation center.
✅ The Asian race reflects a geopolitical battle over who sets the standards for digital money.
Wise signals a move toward stablecoins
Wise (formerly TransferWise), a global leader in international money transfers, has posted a job opening for a digital assets product lead focused on stablecoins, a clear sign that the company intends to integrate the technology into its payment infrastructure.
The role, shared by Wise’s product director, suggests the company is exploring stablecoin custody and transfers directly within user accounts. The move comes as regulations mature across the U.S., Europe, and Asia, making integration increasingly strategic.
Why it matters:
✅ Signals the convergence between traditional fintechs and crypto infrastructure.
✅ Represents a major step toward real-world adoption of stablecoin technology.
✅ Shows how the demand for global, instant liquidity is attracting established financial players.
U.S. regulator downplays risk of a “digital bank run”
Jonathan Gould, head of the Office of the Comptroller of the Currency (OCC), stated that the risk of a “bank run” triggered by stablecoins is overstated.
Speaking at the American Bankers Association conference, Gould argued that any impact on traditional bank deposits would be gradual and manageable, emphasizing that the financial sector should view stablecoins as a competitive tool, not a threat.
His comments come amid pressure from U.S. banks to close perceived loopholes in the GENIUS Act, which allow issuer partners to offer yield on stablecoins.
Why it matters:
✅ Marks a shift in tone from U.S. regulators toward cooperation instead of confrontation.
✅ The OCC begins to recognize the strategic role of stablecoins in modernizing banking.
✅ The U.S. regulatory agenda is moving from reactive to collaborative.
Stablecoins as “Corporate Digital Currencies”?
Closing the week, Jeremy Kranz, founder of Sentinel Global, reignited the debate by claiming that privately issued stablecoins may be evolving into “Central Business Digital Currencies”, corporate equivalents of Central Bank Digital Currencies (CBDCs).
According to Kranz, stablecoins issued by major corporations centralize risks related to governance, programmability, and surveillance, despite being marketed as innovation. He argues that the future of digital finance will depend on education, transparency, and critical awareness among users and investors.
Why it matters:
✅ The discussion around stablecoins has moved beyond technology, it’s now political and philosophical.
✅ The line between public and private forms of digital money is becoming increasingly blurred.
✅ Transparency and decentralization remain the core pillars of digital trust.
From Stripe launching its own blockchain, to Asia competing for leadership, and fintechs like Wise adopting crypto infrastructure, the global market is entering a new phase where traditional and digital finance converge within the same codebase.
But Kranz’s warning is timely, the challenge is not just to build a new financial architecture, but to ensure it preserves freedom, trust, and transparency.
The financial system is being rewritten in real time, and the intentions behind the code will define the path of this new economy.
See you in the next edition.
