NEW STABLEMINDED EPISODE:
Why Kraken Joined GDN

Season 5 explores Global Dollar Network (learn more here), an open network that rewards enterprises who help grow adoption for USDG, a regulated stablecoin. In Episode 2, Kraken reveals why they chose GDN's yield-sharing model over building their own stablecoin after "many, many years" of internal debates.

Key Insights from this Episode:

• Mark Greenberg: "Stablecoin issuers make a whack load of money and give exactly 0 of that back to users. That sucks for end users."

• Krak Pay Strategy: Built around "all assets are money" philosophy - users save in Bitcoin, spend tokenized S&P 500, send money via stablecoin rails

• Why GDN: Avoids enriching "two behemoth companies" (Circle/Tether), enables yield-sharing with users, aligns with "decentralized is better" philosophy

• Technical Vision: Building stablecoin abstraction where users don't know which stablecoin they're using

• Network Benefits: 50+ partners share economics based on custody, minting, AND transaction volume vs isolated stablecoin competition and fragmentation

August 19, 2025 | Daily Yield Ep. 22

Tuesday's developments:

Anchorage Digital expands stablecoin capabilities under GENIUS Act: America's first federally chartered crypto bank leverages its unique regulatory position to offer white label stablecoin issuance with issuance capability across 45+ blockchains. Partnership with Ethena Labs produces USDTB as the first GENIUS Act-compliant stablecoin, reflecting a compliance-first evolution in institutional crypto banking.

KAST and Bitso Business partner for LATAM payments: The partnership links KAST's global platform rails to Mexico's fiat system, furthering stablecoin-driven financial innovation across Latin America as captured in Dune Analytics' latest regional report showing explosive regional adoption.

CAP Protocol launches on Ethereum after year of development: $11M backing from Franklin Templeton, Khana, and Flow Traders supports innovative stablecoin engine introducing cUSD and yield-generating stcUSD, promising robust, risk-managed approach to decentralized finance. Integration with Chainlink, Aave, Pendle and others positions CAP as key infrastructure in Ethereum ecosystem driving.

Stay Stable,

The Stabledash Team

_{This content is for informational purposes only and does not constitute financial, investment, or legal advice.}