If Stripe owns PayPal, Bridge becomes the shared infrastructure layer under PYUSD, OpenUSD and Tempo. That’s infrastructure consolidation, not token competition, and it’s a much bigger deal than the acquisition headline suggests.”

That sort of infrastructure scale could allow Stripe to introduce lower settlement fees and checkout incentives for PYUSD, while Tempo could gradually steer users toward OUSD.

“This potentially strengthens Tempo considerably,” said Niamh Byrne, chief commercial officer at blockchain developer platform Alchemy. “If OpenUSD gains meaningful traction, it could increase the strategic importance of Tempo and position it as more than another blockchain.”

However, even if Stripe does combine multiple prominent stablecoin projects under one roof, commentators do not foresee major disruption to the stablecoin sector in the immediate future.

“Circle’s cross-chain interoperability is operationally proven at institutional scale, whereas Tempo is an unproven layer-1 still in early development,” Citi said in its note. “It is our understanding that Bridge/Tempo relies on third parties for interoperability capabilities.”

Tether’s USDT, meanwhile, holds a 60% share of the stablecoin market, dwarfing even USDC, let alone PYUSD, which is in itself something of a “mic drop” to suggestions of a threat from distant competitors. Notwithstanding that, USDT derives its prominence from the retail sector and emerging markets rather than institutions and corporates.

US crypto market-structure legislation appears to be nearing a potential Senate vote, as lawmakers race to finalize the remaining sticking points before the August work break. Summer Mersinger, CEO of the Blockchain Association and a former commissioner at the US Commodity Futures Trading Commission (CFTC), told attendees at the Injective Summit in Washington, DC, that the Digital Asset Market Clarity (CLARITY) Act is “very close” on the main language and could reach the Senate floor as soon as next week—if an ethics agreement can be reached.

In a sign of how political and governance questions are driving the timeline, Mersinger said “ethics is the big elephant in the room,” pointing to ongoing discussions involving Republican senators and a White House meeting. She also emphasized that while the industry’s members support the broader bill, they do not want the ethics debate to derail the rest of the legislative package.

Key takeaways

• Summer Mersinger says the CLARITY Act is close on the bill’s core market-structure provisions and a Senate vote could come next week if lawmakers align on ethics language.
• Mersinger described ethics provisions as the primary unresolved issue, with talks involving Republican senators and the White House.
• Some Senate Democrats have indicated they will oppose a vote unless ethics provisions are clear, and the bill needs bipartisan support to pass.
• Prediction market Kalshi showed traders’ odds of a Senate floor vote before the August break rising to 75.1% (up from 47% on July 10).

Why the ethics fight could determine whether CLARITY advances

Mersinger’s remarks framed the current legislative hurdle less as a technical drafting problem and more as a political constraint. She said lawmakers have a few remaining “nits” to work out but are “very close” on the main language. According to her, progress now depends on reaching agreement on ethics provisions—language that Democrats have made central to whether they will support bringing the bill to the Senate floor.

At the Injective Summit, Mersinger tied the urgency to the legislative calendar, noting the window for action before August recess. She described the ethics question as a concern raised across “every office,” and referenced a White House meeting involving Republican senators as a potential path to compromise. Her hope, she said, is that any agreement reached there would either be acceptable to Democrats or could be adjusted so Democrats would have room to support the final text.

“Ethics is the big elephant in the room… Today there’s a meeting at the White House with some Republican senators,” Mersinger said, adding lawmakers are hopeful an agreement can be produced that Democrats can accept. “For my members and what we are advocating for on the Hill… please don’t let it kill all the hard work that we put in the rest of the bill.”

What lawmakers are trying to finalize before the August break

CLARITY, described by the Blockchain Association as a market-structure effort aimed at establishing clearer rules for digital-asset activity, has already advanced through key early stages in Congress. Mersinger said her organization has been engaged with legislators as the bill moved forward, including during the period when it passed through the Senate Banking and Agriculture committees.

Her comments suggest that the bill’s prospects now hinge on a final set of negotiations rather than on a broader lack of support for the underlying policy direction. Still, she acknowledged that the remaining debate is highly consequential: ethics language is not just a marginal edit, but the focal point for lawmakers deciding whether the bill can reach a final vote.

White House talks and Democratic opposition risks

Mersinger’s mention of ethics discussions followed earlier reporting that President Donald Trump was set to meet with Republican senators to discuss CLARITY. That coverage indicated the conversation could include Trump’s ties to the industry, after Senate Democrats had held their own meeting on the bill the prior day. The reports also pointed to Trump’s disclosure in June that he earned $1.4 billion from ventures related to digital assets, including his memecoin and his family business, World Liberty Financial.

The concern reflected in those disclosures appears to have translated into concrete legislative posture. Earlier, three Senate Democrats announced that they would not support a crypto market-structure vote unless ethics provisions were clear. Their stated rationale was that without stronger guardrails, lawmakers and the White House could face potential conflicts or corruption risks associated with the digital-asset sector. With Republicans holding a slim majority in the Senate, the bill would require support from several Democrats to clear the chamber.

How the odds shifted on Kalshi’s prediction market

While political negotiations continue behind closed doors, market-based indicators have also shown a change in expectations about timing. At the time of publication, Kalshi—using a contract centered on whether the Senate would vote on CLARITY before the August break—showed a 75.1% chance of a floor vote, according to the market listing referenced in the source report.

The same reference noted the odds were 47% on July 10, implying that traders have become more confident in near-term movement. However, prediction markets can react to headlines and perceived momentum even when the underlying political constraints—particularly on ethics—remain unresolved. That makes the next few days’ negotiations especially relevant for readers trying to assess whether the rising odds reflect a true path to passage or simply a temporary shift in expectations.

What investors and builders should watch next

For participants across the crypto industry, the immediate question is whether lawmakers can translate the “very close” drafting progress into a workable ethics agreement that both sides can accept. Mersinger’s comments suggest the Senate vote may depend on whether a compromise can survive Democratic scrutiny—so watch for details of any ethics language emerging from White House and senator discussions, and whether Democratic leadership signals a readiness to support a floor vote once the text is finalized.

Coinbase and Ripple have secured EU-wide access through Luxembourg as MiCA’s July 1 deadline has pushed Binance and other unlicensed platforms to scale back services.

According to earlier reports, Binance withdrew its Greek license application and began suspending services in several European Union countries after the 18-month transitional period ended. The deadline requires crypto-asset service providers to obtain authorization before continuing to serve customers across the bloc.

Coinbase chose Luxembourg as its European MiCA base in June, securing passporting rights across all 27 EU member states as well as Iceland, Liechtenstein, and Norway. Its license from Luxembourg’s Commission de Surveillance du Secteur Financier allows the exchange to operate across those markets through one regulatory hub.

As users began leaving platforms that had not completed the licensing process, Coinbase offered a 5% bonus on eligible asset transfers. crypto.news reported that the campaign targeted European customers moving funds from non-compliant exchanges, giving Coinbase a direct route to capture users affected by the deadline.

Ripple followed with preliminary crypto-asset service provider approval on June 23 before receiving full authorization from the CSSF on July 6. Combined with its existing Electronic Money Institution license, the approval allows Ripple to provide regulated payment, custody and stablecoin services across the European Economic Area.

Cassie Craddock, Ripple’s managing director for the UK and Europe, described the authorization as a foundation for scaling the company’s services while remaining compliant in the post-transition market.

Luxembourg has emerged as the main MiCA entry point

Coinbase and Ripple have joined Bitstamp in placing their European operations in Luxembourg, concentrating three established crypto companies under the CSSF. Each licensed company can use MiCA passporting rules instead of seeking separate authorization in every member state.

Customer transfers, however, have created new compliance risks for both departing exchanges and licensed platforms receiving their users. As previously reported by crypto.news, Bruna Szego, chair of the EU Authority for Anti-Money Laundering and Countering the Financing of Terrorism, warned that firms leaving the market could face a surge in withdrawal requests.

During a briefing before the European Parliament’s Committee on Economic and Monetary Affairs, Szego also cautioned that licensed providers could struggle to process large numbers of new customers. She urged those firms to maintain effective anti-money laundering controls while handling the influx.

Compliance demand has also created opportunities for legal technology providers. Global law firm Reed Smith has launched Aquarius, a platform that automates MiCA tasks such as crypto-asset classification, regulatory white paper preparation, due diligence and environmental, social and governance disclosures.

Reed Smith designed Aquarius for firms entering Europe or adding crypto services under the new rules. The law firm plans to extend later versions to regulatory systems in the United Kingdom, the United Arab Emirates, Hong Kong and Singapore.

USDT restrictions have opened space for USDC and RLUSD

Stablecoin access has become another point of competition as regulated European exchanges restrict or delist USDT. crypto.news reported that Tether’s reduced presence leaves more than $100 billion in EU-linked volume open to compliant alternatives such as Coinbase-backed USDC and Ripple’s RLUSD.

Ripple’s CASP and EMI authorizations give the company a regulated structure for distributing and settling RLUSD with European institutions without depending entirely on outside licensed intermediaries. Coinbase can pursue a similar opportunity through USDC, including revenue from trading, custody and payment settlement.

For investors, Coinbase’s European customer inflows could affect the company’s regional revenue in coming quarters, while Ripple’s licensed payment expansion could increase XRP’s role in services offered to EU financial institutions. Both outcomes will depend on customer adoption and the companies’ ability to meet MiCA and anti-money laundering requirements as migration continues.

Three men who disguised themselves as police officers and created fake police websites to steal $5.4 million worth of crypto have been jailed in the UK this week. 

According to a report from the UK’s Metropolitan Police, the gang called unsuspecting crypto holders and convinced them, while posing as police officers, that their funds were at risk. 

Victims were instructed to deposit their crypto into wallet addresses they were told were secure police accounts, and were encouraged to give up the details of their own accounts. 

Once handed over, the funds were laundered before being spent on luxury holidays, cars, clothes, and watches. 

Adding to these offences, the men also misrepresented their annual incomes, with one of them declaring an annual income of just £444 ($600).

Visa and investment thesis platform Artemis have released a report arguing that the rise of “agentic” AI—software that can discover services, negotiate terms, and execute transactions—may force a rethink of how the world processes payments. The core problem, they say, is that today’s card rails and similar incumbents were designed for human purchasing patterns: relatively infrequent, fee-sensitive transactions settled on timelines that don’t fit high-volume micropayments.

In their view, AI agents reached a practical capability threshold in mid-2025, enabling them to locate unfamiliar APIs, compare pricing, and initiate payments autonomously. That shift makes near-zero friction and fast settlement more important than ever—conditions the report says current infrastructure often cannot meet at scale. The report also frames stablecoins as a potential catalyst for machine-native micropayments while pointing to a convergence model where multiple rails coexist.

Key takeaways

• Visa and Artemis argue traditional card infrastructure struggles with the frequency and fee sensitivity required for AI agents’ micropayments.
• The report links AI agent adoption to a mid-2025 capability jump that lets agents evaluate services and trigger payments autonomously.
• It projects convergence rather than replacement: cards for proxy transactions inside merchant networks, stablecoins for machine-native micropayments, and hybrid workflows.
• Coinbase’s x402 protocol is cited as a developing real-world example, with volume and transaction counts accelerating after its May 2025 launch.
• The paper describes a shared machine-payment framework approach, including Visa work to extend Tempo’s Machine Payment Protocol (MPP) toward card-based agent commerce.

Why AI agents pressure payment rails

The joint report, released Wednesday, centers on the mismatch between human commerce and machine commerce. According to Visa and Artemis, card systems were built around lower-frequency transactions where fee structures and settlement timing are acceptable. AI agents, by contrast, can operate in rapid cycles—discovering new endpoints, running pricing checks, and paying in the background—creating what the report calls a demand for near-zero fees and faster settlement to make micropayments economically viable.

The authors argue this isn’t simply a theoretical upgrade request. They say AI agents crossed a key capability threshold in mid-2025, where they can both navigate unfamiliar APIs and make payment decisions without human intervention. In that context, even modest frictions—fees that scale poorly, settlement delays that reduce automation efficiency, or lack of operational flexibility—can become bottlenecks.

Evidence of adoption: Coinbase’s x402 protocol

The report also points to early market signals from agent-oriented payment standards. One example highlighted is x402, a payment protocol developed by Coinbase. Visa and Artemis say x402 processed $15 million in adjusted volume across more than 109 million adjusted transactions since its launch in May 2025.

More notably, the report describes a sharp acceleration after a period of relatively low activity. It says that in October 2025, the monthly transaction count jumped from 40,000 to 3.8 million, culminating in 38 million transactions processed in October alone. The data is used to suggest that agent-compatible micropayment pathways can see rapid throughput growth when the right operational conditions are met.

Stablecoins as part of a convergence, not a winner-takes-all

A central thesis in the report is convergence across payment types. Visa and Artemis write that the “trajectory points toward convergence rather than competition,” outlining three roles for different rails: cards for proxy purchases within existing merchant networks; stablecoins for machine-native micropayments; and hybrid flows where both types of payments operate within the same workflow.

That framing matters because it avoids a binary story of crypto displacing incumbents. Instead, it suggests that stablecoins may become especially useful where card economics and settlement cadence do not match machine micropayment needs, while card networks could still provide reach inside merchant ecosystems—particularly for transactions where proxy purchasing or familiar merchant integration is beneficial.

The report further argues that a single machine-payments framework could support both stablecoin and card transactions, creating a pathway for agentic flows to extend into card-based commerce networks rather than forcing a full migration.

Shared frameworks and the push to connect card networks to machine payments

To describe how convergence could be implemented, the report discusses Tempo’s Machine Payment Protocol (MPP). It says MPP now spans both onchain crypto payments and fiat payments through shared payment tokens. Visa, in turn, is described as working to extend the protocol into card-based agent commerce.

In practical terms, the report says Tempo’s approach is designed to make it easier for AI actors to send and receive money, while Visa’s tools aim to support agentic payments on card rails. Visa’s crypto division has also been referenced in relation to AI tooling, including functionality for same-day payments by AI agents. Separately, Tempo—which has backing associated with Stripe in the source material—has been described as launching AI-related capabilities alongside its machine payments work in March.

Beyond the product details, the investor-relevant takeaway is structural: instead of treating cards and crypto rails as separate stacks, the report highlights efforts to align them through shared tokenized payment concepts. That alignment is presented as a key step toward enabling agents to execute payments across different networks without the underlying automation logic having to be rebuilt for every rail.

How stablecoins may scale with AI-native microbusiness

The report’s convergence model also intersects with another recent claim in the broader ecosystem: Swyftx earlier this week said AI-enabled microbusinesses could add an estimated $262 billion in stablecoin volume by 2033, assuming roughly 33% adoption. The company’s argument, as presented in the source material, connects AI-native payments settled in stablecoins to growth in machine-driven commercial activity.

While that figure is based on Swyftx’s adoption assumptions rather than Visa/Artemis data, it aligns with the joint report’s emphasis on micropayment economics. The implication for readers is that the stablecoin narrative may increasingly hinge on transaction utility—especially volume at the micro scale—rather than on retail speculation alone.

For investors and builders, the next signal to watch is whether machine-payment standards such as x402 and the broader MPP framework keep showing step-function usage growth, and whether card-network extensions can reduce the friction that the report identifies. The unanswered question is not whether AI agents will create new payment demand, but whether payment rails can adapt fast enough to keep that demand commercially frictionless.

MoonPay has acquired crypto infrastructure startup Glide, aiming to fold Glide’s deposit and routing technology into MoonPay’s fiat-to-crypto offering. The companies announced the deal this week, positioning it as a step in MoonPay’s shift from payments toward broader digital asset infrastructure for other applications.

Glide, founded in 2023 by Tushar Soni and Qinyu Tong, is designed to help software applications accept deposits from a wide range of token and wallet sources without requiring users to manually coordinate cross-chain bridges, swaps, and other intermediate steps. Glide’s documentation states the platform supports more than 100 tokens across 30 blockchain networks.

Key takeaways

• MoonPay is integrating Glide’s deposit and routing capabilities into its MoonPay Deposits product.
• Glide’s core utility is simplifying wallet funding across chains, tokens, exchanges, and cards without manual bridge-and-swap workflows.
• The acquisition reinforces MoonPay’s strategy to expand beyond fiat-to-crypto payments into deeper infrastructure layers.
• MoonPay did not disclose financial terms of the acquisition.

Glide’s approach to cross-chain deposit friction

Soni said Glide was created after recurring issues surfaced while working with Web3 consumer startups: users struggled to add funds to their wallets smoothly. In those workflows, balances could end up on the wrong chain, in the wrong token, or sitting on the wrong venue—forcing users to complete multiple steps to get funds where they actually needed them.

“Funds sat on the wrong chain, in the wrong token, on an exchange, or on a card, and every deposit meant bridges, swaps, and drop-offs,” Soni told Cointelegraph.

According to Soni, the founders also met while working on Robinhood Wallet and later pursued Y Combinator with a plan to build wallet infrastructure for Web3 consumer startups. But their engagements with startups made the deposit problem more visible—prompting Glide to pivot from general wallet infrastructure toward a unified deposit flow.

From multiple sources to a single funding experience

Glide’s model centers on reducing the manual complexity that often accompanies deposits in multi-chain ecosystems. Instead of asking users to orchestrate the path from one asset or chain to another, Glide is intended to automate routing so applications can fund wallets from different sources—such as other chains, tokens, wallets, exchanges, or card-based funding.

As Glide evolved, the objective sharpened: enable users to top up without having to complete bridges and swaps themselves. That distinction matters for app developers because it shifts a portion of the user-experience burden away from end-users and into infrastructure logic that can be reused across products.

Glide was founded in 2023 by Soni and Tong, both formerly associated with the team behind Robinhood Wallet. Their focus on deposit flows reflects a broader trend in crypto—consumer-facing services increasingly depend on reliable onboarding and funding rails, not just token support or interfaces.

How MoonPay plans to use the technology

MoonPay said that after the acquisition, Glide’s technology will be integrated into MoonPay Deposits. MoonPay Deposits is already used by applications including Wallet in Telegram, Moonshot, and Paysafe, according to the announcement shared with Cointelegraph.

MoonPay CEO and co-founder Ivan Soto-Wright framed the purchase as part of a larger infrastructure strategy. He pointed to MoonPay’s recent deals expanding security, trading, and accounting capabilities, arguing that digital asset companies need more than checkout-style payments to help businesses and end users operate reliably with crypto.

“Every acquisition this year has added a layer of the infrastructure that businesses and their users need to operate with digital assets: moving money, securing it, trading it, accounting for it,” Soto-Wright said.

Soto-Wright also described the specific problem Glide targets: users can lose funds by sending the wrong token on the wrong chain. The implication is that future blockchain-based platforms will increasingly require infrastructure that removes these complexities from the user’s workflow, making the underlying transfers effectively invisible.

MoonPay’s expanding acquisition pipeline

The companies did not disclose the financial terms of the Glide acquisition.

For MoonPay, the deal adds to a busy stretch of dealmaking. The acquisition was described as MoonPay’s sixth acquisition announcement of 2026, with additional purchases previously reported by Cointelegraph including Sodot, Decent, DFlow, Entendre, and Dawn Labs. MoonPay’s investor roster includes Thrive Capital, Paradigm, Valhalla Ventures, Tiger Global Management, and Coatue, according to startup data platform Tracxn.

MoonPay also noted leadership changes in its compliance and administration function, with former acting chair of the US Commodity Futures Trading Commission Caroline Pham named chief legal officer and chief administrative officer late last year.

What to watch next for deposits and routing

With Glide’s deposit and routing technology slated for integration into MoonPay Deposits, the key open question for builders and users will be how quickly MoonPay can translate Glide’s cross-chain simplification into smoother funding experiences across supported apps—and whether that improvement reduces common user errors tied to token and network mismatches.