Stablecoins Reshape Global Payments And Regulation

Over the past week (Feb. 10–13), policymakers in Washington, Brussels, Hong Kong and Beijing debated stablecoin rules while firms including Paxos, Circle, SoFi and MUFG announced product plans. Regulators emphasized monetary sovereignty and reserve transparency as commercial actors launched jurisdictional and use-case tokens such as USAD for confidential B2B settlement. The developments signal a split between global transactional coins and specialized tokens, affecting payments and corporate settlement infrastructure.