Robinhood, Kraken, Galaxy Digital, among others, have launched the Global Dollar Network - a collaborative effort to enhance the role of the U.S. dollar in digital finance through stablecoin adoption.
The alliance aims to promote stablecoin use for real-world applications, leveraging collective expertise to drive innovative payment solutions. This initiative comes as regulatory attention around stablecoins intensifies, with more regions establishing guidelines for stablecoin issuers.
Although the Global Dollar Network has a select group of founders, it remains open to new members from various sectors, including exchanges, custodians, and card networks.
With stablecoins on the rise, many firms are pursuing opportunities in this sector to compete with dominant players like Tether (USDT) and Circle (USDC). Paypal, for instance, introduced its own stablecoin, PYUSD, though it hasn’t yet displaced the leading tokens.
Other firms, including Ripple, are advancing their own stablecoins, with Ripple’s RLUSD nearing launch following tests on Ethereum and the XRP Ledger. Similarly, Revolut is exploring a stablecoin launch, reflecting a growing trend among fintechs to enter the stablecoin arena through partnerships and alliances.
The first week of July brings several important developments in the United States that could influence both traditional markets and the cryptocurrency sector.
Ric Edelman, one of the most influential voices in personal finance, has radically revised his stance on crypto allocation. After years of cautious optimism, he now believes that digital assets deserve a far larger share in investment portfolios than ever before.
In the case involving Terraform Labs and its co-founder Do Hyeong Kwon, the defense has asked the Federal Court for the Southern District of New York to extend the deadline for pretrial filings by two weeks, pushing it beyond the original date of July 1, 2025.
Coinbase has emerged as the best-performing stock in the S&P 500 for June, climbing 43% amid a surge of bullish momentum driven by regulatory clarity, product innovation, and deeper institutional interest in crypto.