Bankers Lobby Senate on Stablecoin Yield Ahead of CLARITY Act Vote

Bankers press Senate on stablecoin yield as CLARITY Act vote approaches State banking associations are lobbying lawmakers over provisions that would allow yield on stablecoins, threatened deposit bases. Senator Lummis defended DeFi innovation, stating the bill does not treat decentralized finance as a loophole. 12

HSBC becomes one of first licensed stablecoin issuers in Hong Kong Hong Kong granted only two stablecoin issuer licenses, with HSBC among them, signaling a bank-led approach to regulated stablecoins. The move is set to shape payments and liquidity flows in Asia. 3

Base's Beryl upgrade introduces native token standard for stablecoins and RWAs The B20 token standard goes live on June 25, enabling issuers to create assets through node software and potentially halving transfer costs. The upgrade positions Base for institutional tokenization. 4

Ethena's on-chain activity surges to all-time highs Daily active addresses hit levels last seen in November 2025, and new wallet creations set a record, indicating sticky usage of USDe and vaults even in a difficult market. 5

Venus Protocol launches tokenized stocks as collateral on BNB Chain Users can now supply tokenized stocks like TSLAB and NVDAB to borrow stablecoins and other assets 24/7, marking the first stock collateral market on the DeFi platform. 6

Bipartisan senators ask Treasury to clarify state role in GENIUS Act stablecoin rules Seven senators warned that lack of clear timelines and procedures for state certifications could effectively block states from approving stablecoin issuers, leaving them without a defined compliance path. 7

Igloo develops instrument for crypto tokens to list on NYSE as registered securities The Pudgy Penguins parent company created a financial product offering one-to-one trading parity with on-chain markets, but underwriting costs of $10–20 million could limit adoption. 8