Stable News is Lumx’s weekly curation dedicated to highlighting the most important developments in stablecoins, digital infrastructure, and global payments.
This week brought relevant regulatory advances, new theses around “invisible” adoption, strategic moves from players like Tether and Circle, and, here at Lumx , two essential pieces of content to understand where the market is heading.
Reading time: 6 minutes
A look around Lumx
Stable Talks S02E04: The rise of non-USD stablecoins
The newest episode of Stable Talks powered by Bitso Business explores a growing trend: the rise of stablecoins backed by local currencies.
Hosted by Julián Colombo (Bitso) with guest Ben Reid, Head of Stablecoins at Bitso and GM of Juno, the episode discusses why MXNB (Mexican peso) and BRL1 (Brazilian real) are becoming real alternatives to the dominance of on-chain dollars.
Key themes include:
The real pain points local-currency stablecoins solve for companies serving Brazil and Mexico
How payroll, market access, operational hedging, and treasury are adopting non-USD stablecoins
The influence of regulations like the Genius Act, MiCA, and frameworks in Brazil and Mexico
The architecture of stablecoins-as-a-service and the risks of fragmentation
An essential episode to understand the next phase of payments infrastructure in Latin America.
Lumx on the Future of Money podcast
Lumx returned to the Future of Money podcast, hosted by Mariana Silva, for a conversation about the company’s journey, from the NFT era to the bear market, and finally its reinvention as a stablecoin infrastructure provider.
Topics included:
Why stablecoins represent the true product-market fit of the crypto industry
How companies use stablecoins to reduce operational costs and gain efficiency
How Lumx delivers instant settlement, banking integration, and compliance as core pillars
A conversation about resilience, long-term vision, and building the financial rails of the next decade.
Top news of the week
The next wave of stablecoins will be invisible, says Transak CEO
Transak, known for the “buy crypto” button embedded in major wallets, is entering a new phase: stablecoin infrastructure completely running in the background, invisible to the user.
CEO Sami Start argues that the future is white-label, with modular APIs embedded in traditional apps, from digital wallets to remittance platforms.
Their thesis:
Stablecoins become the settlement layer, while brands maintain full control of the user experience.
The “stablecoin sandwich” concept is also gaining strength:
Transak handles onboarding in one country and conversion in another, without showing the user a “stablecoin balance.”
Why this matters:
✅ Real adoption begins when users don’t realize they’re using crypto
✅ Stablecoins stop being products and become infrastructure, the API of money
✅ Traditional players adopting stablecoins expand the market exponentially
Brazil makes it clear: stablecoins are now treated as FX
The Central Bank of Brazil released Resolutions 519, 520, and 521, creating a regulatory category for virtual asset companies and establishing a crucial shift:
Stablecoins used for payments or transfers are now classified as foreign-exchange operations.
This implies:
Exchanges and brokers must comply with FX rules
Interactions with self-custody wallets will require ownership verification
Cross-border transfers using stablecoins will face limits when sent to unlicensed entities
A new license (SPSAV) formally recognizes crypto players in Brazil
The change comes alongside a bill allowing authorities to convert seized crypto into national currency during investigations.
Why this matters:
✅ Brazil makes clear that stablecoins are money, and must follow FX rules
✅ The country moves toward a supervision model similar to developed markets
✅ Small players will need to meet banking-grade standards, reshaping competition
Tether accelerates expansion and enters trade finance aggressively
Paolo Ardoino revealed that Tether has already processed $1.5 billion in credit for commodity traders, in cash and USDt, and plans to expand significantly.
Operations include:
Credit for commodity purchases and transportation
Supply-chain financing solutions
Links to tokenized gold and AI initiatives
With nearly $184 billion in circulation, Tether is now one of the most profitable financial players per employee, reinforcing its position as a global liquidity provider.
Why this matters:
✅ The line between issuers and traditional financial institutions is disappearing
✅ Tether is turning its balance sheet into a growth engine, especially outside the US
✅ Trade finance becomes a gateway for large-scale institutional adoption
Fed: stablecoins could lower US interest rates
Federal Reserve governor Stephen Miran stated that growing global demand for stablecoins may reduce the US economy’s neutral interest rate.
The logic:
Stablecoins increase international demand for Treasuries, boosting demand for safe assets, which compresses yields.
Fed projections indicate the stablecoin market may reach $3 trillion within five years.
Why this matters:
✅ Stablecoins now impact macroeconomics, not just crypto markets
✅ The Fed formally recognizes their structural influence
✅ Regulations like the Genius Act accelerate institutional adoption
Circle targets the world’s largest financial market with on-chain FX
Circle announced StableFX, an institutional FX platform built on Arc1, its new proprietary blockchain.
The goal:
Bring FX on-chain
Enable 24/7 settlement
Reduce intermediaries
Lower counterparty risk
Expand access to global liquidity
FX moves $9.6 trillion per day, more than all global equity markets combined.
Circle also launched its Partner Stablecoins program for licensed local issuers.
Why this matters:
✅ FX, the world’s largest market, is moving to blockchain
✅ Circle positions itself as global infrastructure, not just the USDC issuer
✅ TradFi and crypto are converging in increasingly explicit ways
The week made one thing clear: a new phase of digital infrastructure is here
Stablecoins are disappearing from the surface, becoming invisible to users while powering the global back-end of financial transactions.
Meanwhile:
Brazil now treats these operations with the same seriousness as traditional FX
Issuers compete directly with established financial institutions
The Federal Reserve acknowledges macroeconomic impact
Circle pushes to bring global FX fully on-chain
And through it all, Lumx continues its mission:
Connecting companies to a more liquid, efficient, and truly global economy.
See you next week.
