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This Week’s Highlights:
- China launches its first regulated yuan-(CNH) pegged stablecoin for international trade
- MetaMask’s new mUSD stablecoin surpasses $65 million in supply within its first week
- Kaia & LINE NEXT unveil a “super-app” for stablecoin payments, remittances, DeFi in Asia
- Plasma blockchain prepares for mainnet beta with $2 billion liquidity and zero-fee transfers
First Chinese CNH Stablecoin Debuts in Global Race
AnchorX has launched AxCNH, the first regulated stablecoin pegged to the Chinese yuan’s international version (CNH), debuting at the Belt and Road Summit in Hong Kong. Alongside this, BDACS introduced a KRW-pegged token called KRW1. These moves reflect China’s increasing regulatory openness to stablecoins for cross-border usage and free trade zones, reversing past restrictions and raising new questions about dollar dominance.
AxCNH is meant for international transactions rather than domestic use in mainland China. It is over-collateralized and backed 1:1 by fiat or government debt in custodial reserves. The design is intended to ensure reserve transparency and reduce currency risk while facilitating trade along China’s Belt and Road network. For global stablecoins this means new regional alternatives, and for stablecoin yield and treasury management systems that want to serve Asia, AxCNH will likely become an important variant to consider.
mUSD Gains Quick Traction After MetaMask Launch
MetaMask’s new stablecoin mUSD surged past $65 million in circulating supply within its first week. The token is backed 1:1 by dollar-equivalent assets and leverages infrastructure from Bridge and M0. Most of its supply is deployed on Layer-2 network Linea, with support also on Ethereum. The rapid growth reflects strong demand for compliant stablecoins that offer cross-chain utility and multi-use-case potential including DeFi usage and real-world payments.
Regulatory alignment is central: mUSD is designed to conform with the U.S. GENIUS Act, particularly around reserve transparency and redemption rights. Its early traction, especially among MetaMask’s user base and merchant partnerships, indicates that stablecoin market participants increasingly care about both yield opportunity and compliance. For stablecoin management systems, this means that future winners likely need to balance regulation, interoperability, and yield.
Kaia & LINE NEXT Launch Asia’s Stablecoin “Super-App”
Kaia and LINE NEXT announced Project Unify, a stablecoin-super-app for Asia, embedding payments, remittances, yield, DeFi, and fiat-stablecoins in LINE Messenger. It will support multiple regional currencies (USD, JPY, KRW, THB, IDR, PHP, MYR, SGD) and is built to unify fragmented fiat and stablecoin rails across Asia’s diverse markets.
The app aims to simplify user onboarding, cross-border transfers, on/off ramps, and yield generation, all in one interface. By embedding this functionality within a messaging platform used by hundreds of millions, Kaia seeks to scale adoption beyond pure crypto users. This type of orchestration layer may become a model for combining stablecoin payments, user experience, and regulatory compliance in large, multilingual markets.
Plasma Readies Stablecoin Built Chain with Major Liquidity Backing
Plasma, a blockchain built specifically for stablecoin operations, will launch its mainnet beta on September 25 with more than $2 billion in stablecoin liquidity from over 100 partners. Its native token XPL will serve governance and economics and Plasma promises zero-fee transfers for USDT through its dashboard.
Plasma’s architecture, called PlasmaBFT, is designed for fast, composable stablecoin transactions with a focus on throughput and minimizing fees. From day one, it seeks to offer features that appeal to both DeFi protocols and stablecoin users who prioritize efficiency and low cost. For stablecoin yield management and treasury systems, Plasma offers a case study in optimized infrastructure with liquidity and usability baked in.
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This Weekly Summary is prepared by brava.finance.
About Brava Finance:
Brava Finance is a high-yield cash allocation platform that gives professional investors access to blockchain-based stablecoin credit markets. By routing capital into hundreds of secure, collateralised lending pools, Brava delivers automated, transparent, and risk-adjusted yield while users retain full control of their assets through non-custodial smart vaults. Built for capital allocators, Brava combines institutional-grade infrastructure with next-generation financial access.
Disclaimer: Brava Finance does not provide financial advice or guarantee investment performance. Users should assess their own financial circumstances and risk tolerance before using the platform. Brava operates in compliance with applicable regulations and does not manage or hold client funds. Users remain in control of their assets at all times.
Citations:
https://cointelegraph.com/news/first-chinese-stablecoin-debut-race-heats-up
