Visa's Stablecoin Expansion + Tether's Profit Record

Welcome to The Daily Yield – your essential resource for stablecoin and digital asset industry news, powered by Stabledash and hosted by Drew Rogers.

Today's Headline Stories:

Visa expands its stablecoin settlement platform: Adding 3 stablecoins (PYUSD, USDG, EURC) through Paxos partnership and expanding to Stellar and Avalanche blockchains alongside existing Ethereum and Solana support. Rubail Birwadker emphasizes building "multi-coin and multi-chain foundation to help meet the needs of our partners worldwide."

Stable raises $28M for a USDT-native blockchain: Purpose-built for Tether with backing from Bitfinex, Hack VC, Franklin Templeton, and Tether's CEO, this new network aims to cut fees from $0.50-$5 to under 1 cent for global stablecoin payments.

Tether reports Q2 profits of $4.9B: Surging 277% year-over-year with $20B USDT supply expansion and $127B in US Treasury holdings, though concentration and systemic risk remain hot topics as USDT dominance grows.