Tech companies with big distributed gig worker bases will help expand stablecoins into a $4 trillion business. Along the way, they will help bring millions of investors into the crypto economy. That’s according to Matt Hougan, chief investment officer of crypto asset manager Bitwise, who pointed to a pair of pilot programs by DoorDash and Meta to pay gig workers and content creators in stablecoins. “On a relative basis, these are not a big deal,” Hougan said in a blog post. “Both are pilot projects and the dollar amounts are small. But they’ve answered a question I’ve had about stablecoins for a long time. They’ve also increased my confidence that…
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OKX Card Sees Everyday Spend Trumping Luxuries
Groceries and dining were king in the EU
Crypto card holders across the EU are spending their stablecoins on everyday items, not the stereotypical big-ticket luxury items. That’s the finding of an analysis of crypto debit card holders by exchange OKX, which issues the OKX Card. Looking at card transactions from late January to late February, the first month after the card’s launch, OKX found that 26% of all transactions — more than one in four — were for groceries. Food-related spending across groceries, restaurants, and fast food outlets accounted for 44% of all spending. Online marketplaces accounted for 13% “There’s a stubborn myth about crypto spending,” OKX said. “The image that persists is a tech nerd or…
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Western Union Launches USDPT Stablecoin
Initial rollout to Bolivia and the Philippines
Western Union has launched its USDPT stablecoin, bringing blockchain-based settlement to its remittance business. Calling the launch “a major milestone in the company’s evolution toward regulated, digital‑first financial infrastructure,” Western Union said in a statement that USDPT will reinforce its “role as a global payments platform.” Western Union plans to roll out USDPT payments to 40 of the more than 200 countries it serves in 2026, starting with Bolivia and the Philippines. This will come via its Stable by Western Union digital wallet and debit card service, focused on inflation-sensitive regions. USDPT is a dollar-denominated and backed stablecoin issued by Anchorage Digital Bank, and built on the Solana blockchain. “USDPT…
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Anchorage Digital, M0 Partner to Issue Stablecoins
Goal is to serve a ‘growing universe of stablecoin builders’
Crypto bank Anchorage Digital has announced a partnership with stablecoin minting protocol M0 in order to expand its stablecoin issuance offerings. The first federally chartered crypto bank, Anchorage Digital, is seeking to become the primary source serving what it calls the “growing universe of stablecoin builders” as they look to mint and manage regulated stablecoins. The offering comes at a time when more and more fintechs, financial institutions, and payment providers are using digital dollars in their core products. Western Union, for example, recently launched its own stablecoin, USDPT. With stablecoins now regulated in the U.S. under the GENIUS Act, companies interested in issuing stablecoins face stringent compliance requirements. A…
