August 21st | Daily Yield Ep. 24

Thursday's developments:

MetaMask launches mUSD stablecoin: First self-custodial crypto wallet to issue native stablecoin, issued by Bridge and powered by M0's decentralized infrastructure. Fully backed 1:1 by US cash and short-term Treasuries, debuts later this year on Ethereum and Linea with deep DeFi integrations and MetaMask card spending at MasterCard merchants.

Fed Governor Waller endorses stablecoins at Wyoming symposium: Most explicit blockchain endorsement from high-ranking Fed official, stating stablecoins could "maintain and extend dollar's international role" through 24/7 availability and rapid transferability. Urged policymakers to view DeFi as "nothing to be afraid of" and pledged continued Fed engagement with industry innovators.

China considers yuan-backed stablecoin reversal: Sources indicate potential approval of yuan-backed stablecoins, ending 2021 digital asset ban to challenge USD dominance in stablecoin space currently controlled by USDT and USDC. Timing aligns with broader de-dollarization efforts.

Velera credit union launches digital asset lab: Credit union service organization serving thousands of institutions explores stablecoin integration for cross-border payments, positioning stablecoins as tools for 130 million members navigating digital assets.

Stabledash Live: 2025 Stablecoin Playbook

Today we hosted Stabledash Live covering Dynamic's 2025 Stablecoin Playbook with industry leaders shaping money movement: Itai Turbahn (Dynamic), Kevin Lehtiniitty (Borderless), Denney Kwok (Mento Labs), Eleni Steinman (Loop Crypto), and Christian Catalini (Lightspark).

Stay Stable,

The Stabledash Team

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