Crypto’s rougher year didn’t prevent stablecoins from pushing deeper into cross-border payment rails. According to Chainalysis’ 2026 Global Crypto Adoption Index, stablecoin transfers across countries climbed to $220.3 billion in the 12 months ending June 2026, up 77.5% from $124.2 billion in the prior 12-month period—even as total global crypto market capitalization fell 37% to $2.1 trillion.

The data suggests stablecoins are increasingly being used for practical money movement rather than purely speculative trading. Chainalysis summed it up as: “The bear market hit the price-sensitive half of crypto and left the payments half alone.”

Key takeaways

• Cross-border stablecoin flows rose 77.5% to $220.3 billion over the year to June 2026, even as total crypto market cap dropped 37%.
• Transfers remained “trade-like” rather than bursty, averaging around $3,000 per cross-border transfer.
• Activity is concentrated: the top quarter of corridors accounted for 96.1% of measurable cross-border stablecoin value.
• Regulatory frameworks are tightening across major regions, including the US (GENIUS Act) and the EU (MiCA), alongside Hong Kong’s licensing approach.
• Traditional remittance firms are expanding stablecoin options, including card and wallet products linked to USD-backed stablecoins.

Stablecoin usage accelerates even as the market contracts

Chainalysis’ adoption index frames the latest trend as a split inside crypto itself. While investors reduced exposure to price-sensitive assets during the downturn, payment-focused activity continued to expand. In its analysis, Chainalysis connects the resilience of stablecoins to real-world transaction demand—particularly cross-border transfers that resemble everyday business and personal payments.

Over the period studied, cross-border stablecoin flows rose from $124.2 billion to $220.3 billion. At the same time, Chainalysis reported that the total crypto market cap contracted by 37% to $2.1 trillion, highlighting the contrast between speculative markets and payments infrastructure.

Chainalysis also pointed to the behavioral pattern of the transfers: activity increasingly looked consistent and scheduled, routed through wallets at a steady rhythm rather than appearing in short spikes. Philip Gradwell, vice president of economics at Tether, told Chainalysis that this “signature” reflects trade and business activity, not speculation.

From corridors to everyday payments: what the on-chain data shows

Chainalysis tracked 4,708 new cross-border corridors during the reporting period, with a combined cross-border value of $2.64 billion. In this context, each corridor represents a route between an originating and receiving country.

But the index also shows strong concentration. The top quarter of corridors accounted for 96.1% of measurable cross-border stablecoin value. Chainalysis reported that the remaining three-quarters carried $8.66 billion, up from $260 million in the previous period—suggesting more routes are participating, but value is still dominated by established pathways.

Chainalysis’ observation that the typical cross-border transfer is around $3,000 aligns with common use cases described by industry participants. In practice, this scale fits supplier payments, sending money home, and moving savings away from volatile currencies—patterns that don’t depend on crypto price momentum.

Why stablecoins are gaining traction: regulation, redemption, and utility

The index links stablecoin growth to a broader shift toward formal oversight and mainstream financial integration. Chainalysis noted that key jurisdictions have moved toward regulation and licensing, which can make stablecoins easier for institutions and service providers to build with.

In the US, the GENIUS Act was signed into law in July 2025. In Europe, the MiCA framework has brought stablecoin issuers into a clearer regulatory environment. Chainalysis also referenced Hong Kong’s issuer licensing regime as part of the move toward more structured supervision.

Still, regulation isn’t the only constraint. Vincent Chok, co-founder and CEO of First Digital, told Cointelegraph that stablecoins are an additional option when traditional payment structures become fragmented—especially when businesses need to move funds between markets with different banking systems, currencies, and settlement schedules.

Chok cautioned that stablecoins don’t remove the “off-chain” steps. “Onchain settlement is fast, but it doesn’t solve the off-chain parts: converting to local currency, meeting compliance requirements, and moving funds through existing banking rails,” he said. In other words, stablecoin throughput helps, but the surrounding financial plumbing remains a gating factor.

Regional demand differs: settlement needs in Asia and dollar access elsewhere

Stablecoin demand appears to vary by region and by what problem users are trying to solve. Tianwei Liu, co-founder and CEO of StraitsX, told Cointelegraph that in Asia, fragmented currencies and uneven payment infrastructure have created sustained demand for stablecoin settlement.

Liu also suggested that this utility is broadening beyond settlement: stablecoins are increasingly used “behind payment methods people already use,” meaning they can transition from an operational tool into an everyday spending option.

Outside Asia, Liu framed stablecoins as addressing different needs, including dollar access, remittances, and hedging against inflation or capital controls—factors that are especially relevant across parts of Latin America, Africa, and the Middle East.

This distinction matters for investors and builders because it affects how stablecoin products will be adopted. If the main driver is settlement efficiency, then integrations with payment providers and wallet ecosystems become critical. If it’s dollar access and remittance reliability, then partnerships with off-ramps, local currency conversion, and distribution networks may be more important.

Traditional players expand stablecoin cards and wallets

The index’s findings come alongside visible efforts by established money-transfer companies to incorporate stablecoins into consumer workflows. Cointelegraph previously reported that Western Union launched a stablecoin wallet and a Visa-linked card across 37 markets in August, enabling users to hold and spend Western Union’s branded US dollar-backed stablecoin.

In September, MoneyGram announced a similar card initiative, initially targeting Colombia, with additional markets planned later this year. Together, these moves suggest stablecoin adoption is increasingly supported by existing distribution channels—potentially accelerating usage beyond crypto-native audiences.

While these initiatives do not directly explain Chainalysis’ corridor-level numbers on their own, they fit the broader pattern the index highlights: steady, utility-driven transfer behavior that grows even during market downturns.

For what to watch next, the key question is whether stablecoin cross-border activity will keep broadening beyond the top corridors that dominate measurable value. Chainalysis shows the long tail is growing, but concentration remains high—so investors and users should monitor how regulatory clarity, reliable redemption access, and interoperability with local financial systems evolve over the next reporting periods.

KB Securities has signed a three-party agreement with Securitize and the Optimism Foundation to develop tokenized funds for Korean institutional investors, starting with a planned money market fund on OP Mainnet.

In a Sep. 23 release shared with crypto.news, KB Securities said that the memorandum of understanding covers the development and distribution of tokenized securities in South Korea. Under the proposed arrangement, the brokerage would bring its institutional client base and securities issuance and distribution experience, while Securitize would provide tokenization infrastructure and Optimism would provide blockchain technology.

The companies plan to begin with a money market fund for institutional clients. KB Securities also intends to develop a tokenized fund based on one of KB Asset Management’s flagship strategies, though the release did not name the strategy or give a launch date for either product. The money market fund is planned for OP Mainnet, the Optimism network selected for the first product.

A memorandum of understanding sets out the parties’ planned cooperation; the announcement is not a product launch. KB Securities said later stages could include tokenized stocks and American depositary receipts, corporate bonds and Korean government bonds as the country’s rules permit. It is also exploring whether it can offer existing tokenized funds from global asset managers to institutions in Korea.

KB Securities plans funds before stocks and bonds

The initial focus on funds puts the proposed products close to the first stage of South Korea’s tokenized securities framework. In its three-stage tokenization roadmap, covered by crypto.news on Sep. 4, the Financial Services Commission said selected privately pooled money market funds and institutional bonds would be among the products eligible when amended securities rules take effect on Feb. 4, 2027. Later stages would extend the framework to publicly offered securities and then connect securities settlement with stablecoin-based payments.

The FSC said existing licensed financial firms would be able to handle tokenized securities within the scope of their licenses. It also plans revisions to rules under the country’s capital-markets and electronic-registration laws. For KB Securities, the pace and scope of that work will matter as it moves from planned funds toward publicly offered shares and other instruments.

CEO Kang Jin-doo said the agreement would bring together the companies’ respective capabilities for products serving domestic institutional investors. KB Securities would continue to monitor regulatory and market developments as it works with global partners, he said.

The fund plans sit alongside work by other Korean brokerages on different parts of the transaction. On Sep. 21, Eugene Investment & Securities agreed to test stablecoin settlement with BEATOZ. Their trial will examine whether subscriptions, payments, and settlement for tokenized securities can run through a connected blockchain system. Eugene built a tokenized securities platform in 2024 and took part in a Korea Securities Depository pilot in 2025.

OP Mainnet is slated to host the first product

For Optimism, the agreement places OP Mainnet in a planned institutional securities product rather than a general blockchain trial. The release identifies the network for the first money market fund, while leaving the technical design, issuance structure, and launch timing to be detailed later.

Jing Wang, CEO and co-founder of OP Labs, described KB Securities’ choice of OP Mainnet as “an early signal that this model works beyond the U.S. dollar market.” Her comment points to the Korean focus of the planned products, although the announcement has not specified the currency or assets of the first fund.

Securitize CEO Carlos Domingo said the companies were bringing tokenization infrastructure to Korean capital markets. The proposed division of work would put Securitize between KB Securities’ product and distribution operations and the blockchain network used to record the tokens.

KB Securities is part of KB Financial Group. According to the company figures included in the release, it held 76.5 trillion won in total assets, and 6.9 trillion won in shareholders’ equity as of December 2025. Its operations span six countries, including the United States.

Securitize gives the deal a U.S. market connection

Securitize already operates in U.S. capital markets and trades on the New York Stock Exchange under the ticker SECZ. In July, it tokenized its own common shares on Solana and Avalanche as its stock began trading on the NYSE. Securitize said the blockchain-based tokens represent the same common shares, with the same applicable legal and transfer restrictions, rather than a separate class of stock.

For U.S. investors, SECZ is an existing publicly traded way to hold shares in one of the companies involved in the Korean agreement. The Sep. 23 announcement does not give a revenue estimate, investment amount or other financial terms for the proposed collaboration, so it does not establish a measurable effect on Securitize’s earnings.

The company also works with U.S. asset managers on tokenized funds. Its platform supports BlackRock’s BUIDL tokenized Treasury fund, and Securitize said it managed about $5 billion in assets as of August 2026. In July, U.S. regulatory filings showed that South Korea’s Hanwha Group had built a 9.6% stake in the company through affiliated entities and investment vehicles, making it Securitize’s largest shareholder at the time.

Beyond the two planned funds, KB Securities said any move into tokenized stocks, depositary receipts or bonds would depend on how Korea’s securities framework develops. Its separate review of global asset managers’ existing funds would concern distribution to Korean institutional clients, rather than the creation of another fund under the three-party agreement.

“The president agreed to not one but two different ethics provisions that were unprecedented in nature,” Witt said. Apart from an eventual willingness to submit to rules that would have forced Trump to divest crypto interests or place them in a blind trust, the White House was also ready to concede to letting state attorneys general pursue the federal government if it failed to police ethical lapses, he said.

“That is without a doubt the most unprecedented, far-reaching, stringent, restrictive ethics provision that has ever been agreed to by any president,” Witt said.

He said the Democrats accusing Trump of an improper conflict for steering digital assets policy while controlling a crypto empire is “somewhat ironic, given that we’re dealing with a lot of senators on banking committees who hold stocks and actively trade stocks in financial services companies that they regulate.”

Witt’s primary role was to get the Clarity Act into law — a prospect that took a major hit last week when the U.S. Senate failed to advance the bill. He suggested at a CoinDesk Policy & Regulation event on Tuesday that the so-called lame duck congressional session at the end of the year is not a significant focus, saying the core work now is shifting to the federal regulators, such as the Securities and Exchange Commission.

Last week, Protos reported that a philanthropic organization associated with the effective altruism movement, Manifund, had hired Caroline Ellison, providing the former CEO of Alameda Research her first major job opportunity since being released from prison.

However, the hire caused catastrophic fallout for the organization, and the CEO is now openly wondering if Ellison’s hiring could force it to shut down.

Read more: Read more: FTX’s Caroline Ellison and Gary Wang hit with five-year trading ban

Caroline Ellison’s hiring came with a dire warning

While Manifund CEO Austin Chen took to effective altruism forums to announce the hire as a positive move for the charity, he quickly admitted on X that bringing Ellison onto the team “could blow up quite badly.”

And it has.

As previously reported, many effective altruists were already speaking out against the hire, but now an important name in the movement has made a dire and comprehensive statement about the decision by Chen.

Quick Read

• Cardano’s 30% weekly surge stems from a single test transaction on x402 and a short squeeze, not proven real-world adoption.

• XRP already processed 1.4 million AI-agent payments via x402, holds $1.4 billion in U.S. ETFs, and lost 10 fewer percentage points in 2026.

• Cardano must launch x402 payments on mainnet with real transaction volume soon or risk retracing its entire 30% gain.

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Cardano (CRYPTO:ADA) rose 29.9% in the week ending September 23, 2026, jumping from $0.20 to $0.25. Meanwhile, XRP (CRYPTO:XRP) rose 22% to $1.58. As Cardano makes headlines with this significant jump, many investors are left wondering whether XRP or Cardano is the better buy.

Despite these gains, both cryptocurrencies are still in the red for 2026. Cardano has dropped 23.5%, while XRP has fallen by 13.9%. Therefore, while a positive week is encouraging, it hasn’t turned around their overall performance this year. Now that Cardano has experienced a 30% surge, which coin offers the better investment opportunity: XRP or Cardano, and what factors could influence this decision?

Cardano’s 30% Surge Rests on an AI Payments Test and a Short Squeeze

The primary driver behind Cardano’s impressive rally is its recent development in payment technology. Cardano has joined x402, an open standard that lets software and AI agents make payments for online services with a simple web request. The Cardano Foundation unveiled this news on September 21. This means AI agents can now pay for data requests with ADA or a Cardano stablecoin without an account or API key.

However, Cardano’s payment system has completed only one transaction on its test network, where the coins have no real value. Developers can start using the feature, but AI agents haven’t yet begun making payments with ADA.

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Cardano’s price surge was also fueled by a short squeeze. Many traders who had bet against ADA were forced to buy back their positions as the price rose, adding further upward pressure. This type of forced buying continues until all short positions are covered.

Story Continues

XRP Already Handles the AI Payments That Cardano Is Just Testing

In contrast, the XRP Ledger has been processing AI-agent payments using the x402 standard at scale for some time now. In fact, the ledger has completed over 1.4 million AI-agent transactions, surpassing the 1 million milestone by July.

Cardano is starting from a disadvantage compared to other networks like Base and Solana, where Coinbase, which created x402 in 2025 before transferring it to the Linux Foundation, has reported over 100 million x402 payments.

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Thus, while Cardano’s recent surge is based on a feature it has only tested, XRP already supports that functionality, making it a more established choice right now. For Cardano to sustain its rally, it will need to successfully deploy its payment system on the mainnet soon; any delays could significantly retrace this 30% gain.

XRP Has Lost Less in 2026, and U.S. Funds Hold $1.4 Billion of It

So far in 2026, XRP has lost 13.9%, while Cardano has dropped 23.5%. This means that an investor who chose XRP in January has lost about 10 percentage points less than those who invested in Cardano. Additionally, XRP enjoys strong institutional interest, particularly in the U.S., where spot XRP ETFs have accumulated around $1.71 billion since their launch in November 2025, holding about $1.4 billion of XRP.

XRP’s recent week also benefited from a short squeeze, as exchanges liquidated around $300 million worth of short positions across the market in just one hour on September 21. Before this squeeze, XRP had one of the most crowded short positions among major coins.

While the recent contract launch on the Moscow Exchange on September 22 may seem advantageous for XRP, it’s worth noting that the contract settles in rubles and does not actually purchase or hold XRP itself. The exchange has set its margin at 43%, marking XRP as the riskiest option among the five coins listed.

So Which Is the Better Buy, XRP or Cardano?

Based on the recent data, XRP appears to be the more favorable choice as of September 23. It already processes the AI-agent payments that Cardano is still testing, has had a smaller decline in 2026, and boasts $1.4 billion held by U.S. funds. Despite Cardano’s impressive 30% surge, it is mainly driven by a test transaction and a short squeeze, both of which can be fleeting.

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However, remember that while XRP benefits from institutional backing, its recent surge is also linked to a short squeeze. If Cardano successfully launches its x402 payments on the mainnet and shows real transaction volume before the year ends, it could boost investor confidence. Conversely, if XRP falls below $1.30—its starting point for the week—it could narrow its lead and weaken its investment proposition.

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BNB price has fallen 3.3% to about $761 as Binance has announced that it will start moving crypto balances from Funding Accounts to Spot Accounts on Sep. 29, ahead of a Stocks Account rename in January 2027.

Binance said in its Sep. 23 announcement that the migration will run from Sep. 29 into January 2027, with dates for individual stages to follow. The exchange will rename the Funding Account after the migration period and reserve it for stock and stock-options settlement.

The price decline and announcement occurred on the same day, but the available data does not establish that the account change drove BNB lower. CoinGecko put BNB’s 24-hour trading volume at about $1.34 billion when checked. Despite the daily fall, the token was still up 7.4% over the previous week.

BNB remains a stock settlement asset

From Sep. 29, Funding Accounts will stop accepting on-chain crypto deposits, according to Binance. Customers will instead use Spot Accounts for regular crypto deposits and withdrawals, while the account being renamed will continue to serve eligible stock and options traders during the transition.

BNB is one of six assets Binance says customers will be able to use for stock and stock-options settlement in the future Stocks Account. The others are USD, USDC, USDT, USD1 and U. Its inclusion means BNB remains part of the exchange’s funding choices for those products, even as other crypto balances move to Spot.

For customers who want to move funds sooner, Binance plans to add a One-Click Migration button to the Funding Account. The feature requires the latest version of its iOS or Android app. Customers who take no action will have remaining eligible assets transferred to Spot automatically in batches beginning in January 2027, the exchange said.

Binance says the transfers will leave users’ total asset balances unchanged and preserve historical transaction records under their original Funding Account labels. The company has yet to give an exact date for the January rename.

Stock trading explains the dedicated account

Binance’s securities service gives eligible users outside the United States access to more than 7,000 U.S.-listed stocks and ETFs, including fractional purchases starting at $5. In June, crypto.news covered Binance’s Alpaca arrangement: Nest Trading acts as introducing broker, while Alpaca Securities handles execution, clearing, settlement and custody. Binance also disclosed a minority stake in Alpaca.

Direct stock positions have since been joined by options. On Sep. 1, Binance introduced physically settled options on selected U.S.-listed stocks and ETFs for eligible users. Customers can buy calls and puts under the initial offering, and exercised contracts settle into shares held through Alpaca Securities. The product follows U.S. market hours for most supported contracts.

The U.S. connection is therefore the underlying securities and brokerage infrastructure, rather than a new offer of Binance stock trading to American customers. Binance says access to its securities products depends on a user’s location. The account rename does not itself change the eligibility rules stated for those products.

Binance also offers bStocks, which follow the prices of U.S. shares but are blockchain-based tokens. Its June bStocks launch covered names including Nvidia, Tesla and Circle. Binance said eligible customers could convert supported direct stock positions into bStocks and trade the tokens on its spot market around the clock. Unlike direct shares, the tokens do not grant ownership of the listed companies’ stock.

Under the migration plan, bStocks held in Funding Accounts will move to Spot, while direct stocks and options remain in the account that becomes the Stocks Account. Newly converted bStocks will also go directly to Spot, according to Binance’s account guidance.

USDC keeps a role after Binance’s Circle deal

USDC’s place among the six settlement assets follows an expansion of Binance’s relationship with its issuer, Circle. On Sep. 22, Binance disclosed a $100 million Circle stake and a five-year commercial agreement concerning USDC use across its platform. The equity purchase involved about 1.24 million Circle shares issued through a private placement.

The settlement list also includes USDT, USD1 and U alongside BNB and U.S. dollars. Binance’s earlier stock-service information identified USDC as a main stablecoin funding choice while allowing eligible users to fund purchases with other supported assets. The future Stocks Account keeps those named assets available for securities transactions, while regular crypto activity moves through Spot.

Pay, Convert and P2P routes change from Sep. 29

Several services will begin sending funds to Spot as the migration starts. Binance says assets received through Pay, Card and Gift Card will be credited to Spot Accounts from Sep. 29. Funding can temporarily remain a Binance Pay payment source, but scheduled sends relying only on it will stop when the exchange removes that option; affected users will need to choose another source.

For Convert, existing unfilled limit orders that lock funds in Funding can remain open. Orders settled or expired after Sep. 29 will return assets to Spot, while new limit orders will lock and settle funds there. Binance advises customers with recurring Convert plans to update any Funding Account selection to Spot. API users referencing Funding have also been advised to change that account reference.

P2P advertisers will continue using Funding for listings and related deposits until Binance introduces a dedicated P2P account in December. Advertisers will then need to move assets tied to their listings; Binance says advertisements left unmigrated after January 2027 will close automatically.