News Roundup — ING, UniCredit and Others to Jointly Develop Euro Stablecoin

Major news stories this week:

1. ING, UniCredit and others to jointly develop euro stablecoin
2. Circle Mulls Reversible USDC Transactions for TradFi Adoption
3. First China Stablecoin Launches Amid Digital Geopolitical Race
4. Toyota, Yamaha Accept Tether in Bolivia Amid USD Crisis
5. China Opens Shanghai Digital Yuan Hub for Blockchain Services

Story Summaries:

1. Nine leading European banks, including ING and UniCredit, are collaborating to launch a euro-backed stablecoin. Slated for a 2026 debut and operating under EU MiCA regulations, the project aims to establish a homegrown, regulated alternative to U.S.-based stablecoins and boost Europe's payment sovereignty.
2. Circle is exploring the possibility of reversible USDC transactions to align better with traditional finance expectations. While the move could appeal to TradFi users by introducing refund mechanisms, it raises critical questions about the balance between transaction finality and flexibility on the blockchain.
3. AnchorX has launched AxCNH, the first regulated offshore yuan stablecoin, targeting cross-border FX markets. The initiative aligns with China's efforts to integrate stablecoins into its Belt and Road strategy, leveraging digital assets for 24/7 international trade and settlement efficiency.
4. As Bolivia's USD reserves plummet, automakers like Toyota and Yamaha are now accepting USDT payments. This development follows the country’s recent lifting of its crypto ban and illustrates the growing use of stablecoins in emerging markets facing currency instability.
5. China’s central bank has opened a new digital asset hub in Shanghai to support blockchain and digital yuan services. The facility aims to boost cross-border payment capabilities and marks another step in the yuan’s gradual digital internationalization.

And that’s all for last week’s news! Wishing you a great week ahead!

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