Mastercard is testing its Crypto Credential standards-based identity framework with stablecoin orchestration network Borderless.xyz to enable trusted cross-border stablecoin payments through shared compliance and verification signals. The pilot aims to help wallet providers, liquidity networks, and transfer services verify counterparties in stablecoin transactions.
Visa is adding stablecoin prefunding and payout capabilities to its Visa Direct platform through a collaboration with onchain infrastructure provider Zerohash, enabling eligible clients to conduct cross-border payments using stablecoins across 195 countries.
The Bank of Italy conducted a study testing 200 USDC remittances across 10 international payment corridors, finding that total costs varied widely from 0.3% to nearly 9% of the transaction amount, challenging assumptions that stablecoins are necessarily cheaper for cross-border payments.
A July 2026 study by Banca d'Italia testing 200 USDC transfers across 10 international payment corridors found total costs ranged from 0.3% to nearly 9%, questioning whether stablecoins consistently offer cheaper or faster remittances than traditional payment rails.
South Korea's largest bank, KB Kookmin Bank, will launch a blockchain-based cross-border payment service for import and export companies in August 2026 using JPMorgan's Kinexys network. The service will initially handle U.S. dollar payments to 10 countries.
A new PhotonPay research report documents how stablecoin-based multi-rail payment systems are cutting African cross-border B2B settlement costs from $5-$15+ to under $1 and reducing settlement times from days to minutes, as companies like Lumepay launch institutional payment solutions targeting the continent's fragmented commercial trade infrastructure.
The European Union approved its 21st sanctions package against Russia on July 23, 2026, imposing transaction bans on 14 cryptocurrency service platforms across six jurisdictions and blacklisting the A7 cross-border payments network and its A7A5 stablecoin for alleged sanctions evasion.
Tiger Global led a $180 million Series B valuing Augustus at $1 billion, funding its bid to become a federally chartered stablecoin clearing bank, Augustus Bank, N.A., with OCC conditional approval secured in May 2026.
Diaspora remittance platform LemFi is transitioning its cross-border settlement operations to stablecoin rails through a partnership with BVNK, replacing traditional multi-day correspondent banking with near-instant, lower-cost settlement.
Ripple and Bitso are expanding their payments partnership by integrating Bitso's Mexican peso-backed stablecoin MXNB onto the XRP Ledger's decentralized exchange, targeting regulated liquidity for cross-border settlement in the US-Mexico corridor.
Mastercard is enhancing its stablecoin settlement functionality to support regulated stablecoins including Circle's USDC, Ripple's RLUSD, and SoFi's offerings for credit card transactions and cross-border payments. The expansion comes as payment giants Stripe, Visa, and Mastercard are reportedly backing a new stablecoin platform that Coinbase is considering joining.
