The past two weeks have reinforced a clear trend: stablecoins are rapidly becoming part of mainstream financial infrastructure. Regulatory frameworks are now taking effect across the UK and Europe, major fintechs are adapting to new rules, banks and payment networks are expanding stablecoin capabilities, and institutional adoption continues to accelerate across payments, treasury, and settlement.
UK regulators formalise joint stablecoin supervision
The Bank of England and FCA published their approach to jointly regulating systemic stablecoin issuers, providing greater clarity on how firms will transition from FCA-only oversight to enhanced supervision if they become systemically important.
UK’s two-tier stablecoin regime takes shape
The UK has confirmed a split regulatory framework, with non-systemic stablecoins overseen by the FCA and systemic issuers jointly supervised by the FCA and Bank of England.
£40bn issuance guardrail replaces holding limits
The Bank of England’s new framework removes proposed user holding caps and instead introduces a £40 billion issuance limit per systemic stablecoin.
Reserve requirements updated for UK issuers
Systemic stablecoin issuers will be permitted to hold up to 70% of reserve assets in short-term UK government debt, improving commercial viability while maintaining redemption safeguards.
MiCA enters full enforcement phase
The EU’s Markets in Crypto-Assets Regulation (MiCA) has now fully transitioned into operational enforcement, requiring authorised stablecoins and licensed crypto service providers to operate within the bloc.
Revolut delists USDT from Europe
Revolut announced the phased removal of Tether’s USDT for European users as part of MiCA compliance requirements. New purchases have ceased, with full removal scheduled for August.
MiCA-compliant stablecoins gain market share
USDC and EURC continue to emerge as beneficiaries of MiCA enforcement, as regulated European platforms prioritise authorised stablecoins.
European policymakers begin MiCA review
Even as MiCA enters full operation, regulators are already considering updates to address evolving stablecoin and tokenisation markets.
European stablecoin market undergoes major restructuring
The MiCA transition has triggered one of the largest stablecoin market shifts in Europe, with exchanges and fintechs adjusting product offerings and compliance models.
Open USD launches with 140+ global partners
Open Standard unveiled Open USD (OUSD), backed by more than 140 organisations including Visa, Mastercard, Stripe, BlackRock, Coinbase and American Express.
Card networks deepen stablecoin commitment
Visa and other payment giants continue investing in stablecoin settlement infrastructure, supporting broader enterprise adoption.
Banks accelerate stablecoin integration
Major financial institutions are increasingly moving from experimentation to implementation, supporting issuance, custody and settlement services.
Treasury and cross-border payment adoption grows
Corporates continue exploring stablecoins for intercompany settlements, liquidity management and international payments, with several large enterprises reporting successful treasury use cases.
Industrial firms begin using stablecoin settlement
Large multinational organisations are starting to execute real-world treasury transactions over blockchain networks rather than solely relying on traditional banking rails.
Stablecoins cement position as financial infrastructure
Industry reports show stablecoins increasingly being viewed as regulated payment instruments and settlement rails rather than purely crypto assets, supporting growth in institutional participation.
