PayPal USD (PYUSD)

.@Robinhoodapp's launch is about more than another Earn product. It demonstrates how regulated financial institutions can build native stablecoin savings products without rebuilding every layer from scratch.

It also signals a broader market trend: institutions increasingly combine specialist infrastructure providers with allocation intelligence to power the next generation of stablecoin financial products.

We took a closer look at Spark's role in the USDG ecosystem, and why we think this launch marks an important step in the evolution of stablecoin-powered financial products.

Read more here: https://t.co/eM2Pv4f8FZ

In its first 3 days, the Stablecoin FX Layer processed over $70M in volume.

The initial ~$150M deployed across PYUSD/USDS and USDS/USDT is already being used as market depth, not parked as passive TVL. Stablecoin liquidity that issuers once built alone is now shared. Shared depth solves one side of the problem.

Capital efficiency is the other. Across DeFi, liquidity has to stand ready for every swap, even though much of it sits idle between flows.

DualPool is built for exactly that. On @Uniswap v4, it is designed to keep capital productive while making it available the moment execution needs it.

Stablecoin liquidity can now be shared. DualPool makes that shared liquidity more efficient.

The largest money movers just stopped renting the rails.

MoneyGram launched its own stablecoin this month. Western Union in May. PayPal has been scaling PYUSD for years.

Stablecoins are now moving over $1.7 trillion in adjusted volume every 30 days. At that scale, owning the settlement layer becomes an operational necessity.

After 80 years of moving money across borders, these companies are moving the infrastructure underneath it.