Stablecoins & Markets
Kim Min-jun
Coverage focuses on reserves, redemption and the flow of money through digital-asset markets.
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The Brief
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HSBC RedCoin Goes Live on PayMe as HSBC's HKD Stablecoin
HSBC's HKMA-licensed Hong Kong dollar stablecoin, RedCoin (RCHKD), went live on PayMe on October 23, 2026.
USDT on Bitcoin: Utexo Opens Mint Sandbox Before November 28 Launch
Utexo opened a Signet sandbox for its bridged USDT on Bitcoin on October 22; the public launch is set for November 28.
OCC Finalizes GENIUS Act Rule for Payment Stablecoin Issuers
The OCC's GENIUS Act final rule takes effect January 18, 2027, with waivers expected for existing U.S. issuers.
How Digital Money Works
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Tokenized Deposits and Stablecoins: The Difference
A digital token does not tell you who owes the money. Start with the claim behind it.
The Full Cost of a Cross-Border Stablecoin Payment
The full cost of a cross-border stablecoin payment, with a cost model, worked examples and World Bank data.
What Happens When You Redeem a Stablecoin?
Selling a token and redeeming it with its issuer are different transactions. Here is where the dollars come from.
Inside the Stablecoin
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Stablecoin Reserve Attestations: A Reader's Guide
Read a stablecoin reserve attestation by its date, scope, asset categories and opinion without overclaiming.
EURC and Euro Stablecoins: Networks, Fees and Redemption
How to send EURC: match the token and network, keep gas funds, and understand MiCA redemption.
USDC on Solana: Mint, Token Accounts and SOL Fees
How native USDC works on Solana: verify the mint, understand token accounts, keep SOL for fees and avoid network errors.
Money in Motion
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Stripe Stablecoin Refunds: Wallets, Amounts and Status
Where Stripe stablecoin refunds go, how partial amounts add up and what the saved status actually establishes.
FedNow vs RTP vs ACH: How US Bank Payments Move
FedNow and RTP settle instantly; ACH moves credits and debits in batches. Compare reach, timing and finality.
How Businesses Accept Stablecoin Payments
A stablecoin checkout needs a payment intent, supported chain, settlement record, refund policy and reconciliation.
The Reading List
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GENIUS Act Explained: What the US Stablecoin Law Requires
The GENIUS Act limits who may issue a US payment stablecoin and sets reserve, redemption and disclosure rules.
PYUSD vs USDG: Issuers, Networks and Redemption
PYUSD and USDG share a dollar target but differ in issuer, networks, product access and direct redemption routes.
USDT on TON: Fees, Jettons and Exchange Memos
Send USDT on TON by verifying the jetton master, matching the deposit network and following any memo requirement.
Fedwire vs CHIPS: How High-Value Dollar Payments Settle
Fedwire settles payments one by one; CHIPS uses liquidity-saving netting. Here is what that changes in practice.
USDT vs USA₮ vs USDT0: Issuer, Redemption and Bridge Risk
USDT, USA₮ and USDT0 share a dollar target but differ in issuer, redemption rights and cross-chain risk.
UETR Payment Tracking: How Banks Trace a Swift Transfer
How a 36-character UETR helps banks trace a Swift payment—and what it cannot prove.
