Hyperliquid vs Robinhood, Tether Multi-Hop, USD.AI $62M

Welcome to The Daily Yield – your trusted daily source for stablecoin and industry news, powered by Stabledash and hosted by Zach Fowler.

Today's Headlines:

Hyperliquid Surpasses Robinhood: DeFi derivatives exchange processed $330.8B in July trading volume, outperforming Robinhood by 39.1% for the third consecutive month. Generated $111.7M in fees over 30 days with $1.36B annualized revenue, capturing 35% of all blockchain revenue through 24/7 stablecoin-based operations.

Japan's SMBC Builds Stablecoin Infrastructure: Sumitomo Mitsui Banking Corporation partners with Densan System Co and Avalanche to deploy stablecoin infrastructure across 65,000 retail locations nationwide, covering complete lifecycle from issuance to settlement under Japan's revised Payment Services Act.

Tether Launches Multi-Hop Transfers: New feature enables single-transaction USDT transfers across multiple blockchains, connecting Tron to Arbitrum and other networks, addressing $150B USDT market demand for seamless interoperability.

Google Cloud Unveils Layer One Blockchain: Google Cloud Universal features Python-based smart contracts targeting traditional developers, designed for regulated financial services with native commercial bank money and 24/7 capital markets infrastructure.

YZi Labs Invests in USD.AI: AI-powered stablecoin protocol hits $62M TVL with computing resources and GPU hardware backing, enabling AI companies to collateralize massive GPU units while providing alternative yield sources.