For a long time, Stablecoins have been limited to margins in the financial system, but they are changing dimensions. From simple cryptographic conversion tools, they are becoming large payment instruments, challenging banks, and traditional networks. After the major news to remember this week, we will talk about it in an inexplicable analysis.
Block 1: Main News
Kraken: Are you going to get serious fintech right away? Exchanges are open to stocks and ETFs.
Kraken is out of that comfort zone. The American exchange, which historically focused on cryptocurrency, has announced the opening of US-registered stocks and ETFs. This is a major strategic turning point and marks an official entry into the traditional financial world. Already available in around ten US states, the offering offers access to over 11,000 securities without fees. It aims to bring together crypto, stocks and ETFs in a single interface and simplify portfolio management. Kraken goes further, with partial transactions and immediate reallocation between asset classes. Behind this expansion is broader ambitions. It’s about bringing together traditional markets and blockchain. For Arjun Sethi, Kraken co-CEO, the future of trading is “borderless, open 24/7, erected on the rails of cryptocurrency.” This vision is shared by NASDAQ, already working on a continuous accessible stock exchange. Kraken is also preparing to arrive in Europe with a crypto payment service supported by the pipeline’s MasterCard.
US Debt: Larry Fink (Blackrock) warns there is a risk of losing trust in the dollar
US debt is above $36 trillion, with Larry Fink being alerted. In his annual letter to BlackRock shareholders, he warns that if the deficit continues to swell, the dollar’s status as a reserve currency could collapse as it benefits from digital assets like Bitcoin. The CEO of BlackRock doesn’t see Cryptos as a threat, but he does see it as a reliable alternative. He describes diversified finances as “extraordinary innovation” and recognizes that the rise could undermine the US’s economic benefits if investors rely on BTC as a safe haven. BlackRock is at the forefront of this. The ISHARESBitcoinTrust (IBIT) ETF is worth $50 billion and has over 500,000 BTC. Larry Fink also views asset tokenization as a revolution comparable to the ETF revolution. However, one condition: solves the key issues of digital identity.
Ethereum ETFS Staking: Green Light Expected in May 2025
The Ethereum ETF has struggled to persuade since their launch and was overwhelmed by the lack of passive returns. But that can change. According to Bloomberg, the SEC is considering approving staking in May 2025. The potential turning points for these products have previously suffered compared to Bitcoin ETFs. Adding staking – allowing investors to generate income by locking ETH – provides institutional investors with the essential performance lever. In particular, it is a sign of progressive deregulation, as the SEC has already approved the Ethereum ETF option. For Bloomberg, the final decision could be made by October, but approval could come sooner. “These ETFs lose their appeal,” says Robbie Mitchnick of BlackRock. The stakes are clear: if the SEC gives a green light, the Ethereum ETF may ultimately compete with Bitcoin counterparts in terms of return
Bitcoin used in energy exchange between China and Russia
According to some sources, Beijing and Moscow have begun using Bitcoin as a payment method for certain energy transactions. Although modest at first, it illuminates the growing strategic role of BTC in international relations. Bitcoin is the relocation without intermediaries, resistance to censorship, and maximum security. These are all assets that make them attractive tools in the tense geopolitical contexts where both countries are trying to free themselves from the dollar. This choice is part of a broader trend. Some states, from El Salvador to the US – are currently storing Bitcoin as a strategic preparation. And even in France, this subject is being discussed in Parliament. It is proof that cryptocurrencies have gained legitimacy at the global stage.
Block 2: This week’s inexplicable analysis
Stablecoins: Digital Dollars are changing dimensions
It’s a quiet revolution, but now it’s rumbling at the gates of the financial system. Stubcoins are moving forward, far from the spotlight of the surge in Bitcoin and Etheric roller coasters (ETHs). Their promise? Digital currencies supported by the real world, the dollar and the Ministry of Finance.
Stablecoins were originally created to serve as a bridge between the world of traditional currencies and crypto assets and were a simple migration tool. Launch pad for investing in exchange platforms. But the COVID crisis has changed everything. They’ve become much more: real payment methods, cards, transfers, or reliable alternatives to hard cash.
Their success? It is based on four compelling arguments: speed, cost, transparency and accessibility. A Stablecoin transaction takes seconds, cents, transparently recorded on the blockchain, and requires only a connected smartphone. Sending $200 to a Senegale family can cost $17 through traditional networks. With Stablecoin? Only 20 cents. The World Bank notes that fees are split by more than 80%.
But these are more than just promises. They’re already in volume. In 2024, Stablecoins processed nearly $33 trillion, or $100 billion, annually. By comparison, Visas will process around 40 billion, MasterCard to around 2.5 billion, or around 25. Even though there is a large concentration of crypto exchange platforms that act as settlement assets, its role in pure payments is expanding. Excluding the platform, it is estimated that there will be 10-20 billion payments daily. This is a source of concern not only for the traditional payment giant, but also for the central bank.
This is because fault lines appear in this landscape. Over 200 stub coins are circulating, but two giants dominate it. It is USDT (tether), and 26% USDC (circle) with a market share of 62%. The latter in particular has seen its capital rise by 8% in a few weeks to over $60 billion. And this is not insignificant. Stubcoin has been on the rise since February as the market has entered uncertainty. The “volatile” code lost 7%, while the stubcoin increased by 4.5%. Their trading share jumped from 37% to 47% since January.
Stablecoins> Cryptos
Bloomberg
why? Because they are safe havens. A shelter to the storm for traders who want to leave the market without returning to the banking system. Liquids fixed in dollars, tax-free, fast “parking”; Compare them already with digital versions of cash – no banks, no friction.
But it’s their composition that really can change the game. Stable Coin is primarily supported by the short-term US Treasury bill. Long-term government bonds have experienced serious turbulence, but these short-term bills are encouraging. They give Stablecoin stability that many “real” assets no longer have. Irony? perhaps. However, the reality is that investors and the US Congress can no longer escape.
Questions become political. With a total of $234 billion, or 10% of all dollar invoices and coins in circulation, Stablecoins is redefining the very boundaries of what we call “currency.” At this rate they will soon be no longer in the vicinity.
Visa has confirmed that in that part the majority of the flow is related to the transaction. Exchanges between bots, adjudications, and platforms. However, the share of “actual” usage, that is, daily payments, is growing. And with the imminent US regulations, big banks are preparing. They issue their own stables, or “deposit coins,” tokenize bank deposits to cycle through the blockchain.
In short, stablecoins are no longer a cryptographic gadget. They are moving forward to be the backbone of future payment systems. Furthermore, while central bank digital currencies are slowly emerging, the private sector is exponentially moving forward.
Block 3: Top and Flop
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