August 20, 2025 | The Daily Yield Ep. 23

Wednesday's developments:

Wyoming launches first US state-issued stablecoin: FRNT stable token goes live across 7 major blockchains powered by LayerZero. FRNT will also partner with Rain enabling real-world usability anywhere Visa is accepted including Apple Pay and Google Pay. 102% over-collateralization with US dollars and Treasury bills, managed by Franklin Advisors with monthly audits from The Network Firm.

Bullish settles $1.15B NYSE IPO in stablecoins: Historic first US public offering settled in stablecoins with vast majority minted on Solana. Jefferies coordinated multi-issuer process including USDC/EURC (majority, custodied by Coinbase), USDG (Global Dollar Network), PYUSD (Paxos), RLUSD (Ripple), AUSD (Agora), EURAU (AllUnity), and USD1 (World Liberty Financial).

Circle launches gateway protocol on mainnet: Enables instant USDC transfers across 7 major chains including Arbitrum, Avalanche, Base, Ethereum, Optimism, Polygon, Uniswap with sub-500 millisecond speeds, eliminating traditional bridging delays that fragmented stablecoin liquidity.

SkyBridge Capital tokenizes $300M hedge funds: Investment firm plans to tokenize flagship Digital Macro Master Fund and Legion Strategies on Avalanche blockchain using ERC 3643 standard to improve transparency, liquidity, and investor access through institutional-grade infrastructure.

Tether appoints Trump advisor for US expansion: Bo Hines, former executive director of President Trump's Presidential Council for digital assets, joins as strategic advisor after leaving White House in early August to guide US strategy and policy engagement.

Upcoming Events with Stabledash

Join Stabledash and Dynamic on August 21st LIVE to dive into their 2025 Stablecoin Playbook. We’ll be streaming the event to Linkedin and X, or you can view here:

Heading to Mexico City for Stablecoin Conference LATAM 2025 hosted by Bitso Business? Join us on August 26th for a happy hour to kick off the conference!

Catch up on Stableminded

USDG Issuance continues to grow, and the supply on Solana has now surpassed the supply on Ethereum

Dive deeper into $USDG and Global Dollar Network on this season of Stableminded:

Episode 1 with Ronak Daya from Paxos on GDN's reward distribution model

Episode 2 with Mark Greenberg & Adrian Wyland from Kraken on their strategic choice to join Global Dollar Network.

Stay Stable,

The Stabledash Team

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