USDC
USDT
Bitcoin
Ethereum
Major Banks and others Embrace Stablecoin Support
Stablecoins – digital currencies backed 1:1 by fiat assets like U.S. Treasuries or cash – are having a breakout year. Once used just for crypto trading and DeFi degens, they’re now being adopted and implemented by banks, fintechs, apps and even retailers as a serious wave of adoption paves the path of future payments and savings.
With the U.S. GENIUS Act, stablecoins can be issued by licensed institutions under specific reserve requirements. While the Act prohibits paying direct interest to holders by the issuer of the stablecoin (like Circle), but not the intermediaries that use the token like platforms, apps or crypto exchanges. This opens the floodgate for new innovations – particularly in reward structures, embedded yield mechanisms, and tokenized savings.
This breakdown summarizes the major players entering the stablecoin space, and details on those offering or planning to offer yield or rewards. Let’s go!
Major Banks Entering the Stablecoin Market
|
Bank |
Stablecoin or Service |
Yield / Rewards |
Status |
Notes |
|---|---|---|---|---|
|
PayPal |
PYUSD + 3.7% rewards program |
✓ Yes – 3.7% APY in PYUSD |
Launching Summer 2025 |
U.S. customers earn yield paid monthly in PYUSD. |
|
SoFi |
Stablecoin remittances + wallet plans |
Unknown |
In development |
Announced crypto wallet with stablecoin features and cross-border payments. |
|
Bank of America |
Internal USD stablecoin project |
Unknown |
In development |
CEO confirmed plans pending regulatory clarity. |
|
Revolut |
Stablecoin rewards program |
✓ Yes |
Launching soon |
Built on Morpho and EVM infrastructure. |
|
JPMorgan, Citi & Wells Fargo |
Joint stablecoin effort (rumored) |
Unknown |
Unconfirmed |
Expected to focus on institutional payments and tokenized settlements. |
|
BNY Mellon |
Ripple stablecoin banking partner |
Unknown |
In development |
Selected as a banking partner for Ripple’s stablecoin. |
|
Fiserv |
FIUSD |
Unknown |
In development |
Built using Paxos and Circle infrastructure. |
|
Santander (Spain) |
Exploring internal stablecoins |
Unknown |
Early exploration |
Could issue USD or EUR-backed stablecoins through its digital banking unit. |
|
Société Générale (France) |
USD CoinVertible (USDCV) |
Not yield-bearing |
Live |
Launched on Ethereum and Solana with reserves held by BNY Mellon. |
|
BBVA (Spain) |
Euro/USD stablecoin via Visa platform |
Unknown |
Pilot in planning |
Will use Visa’s tokenization infrastructure for bank-issued stablecoins. |
|
Deutsche Bank (Germany) |
Stablecoin and crypto custody platform |
Custody only |
Launching in 2026 |
Stablecoin custody will be part of a broader digital asset platform. |
|
ZA Bank (Hong Kong) |
Custodial banking for stablecoin issuers |
No rewards for users |
Live |
Provides fiat reserve banking and infrastructure for third-party stablecoin issuers. |
Retail and Big Tech Exploring Stablecoins
|
Company |
Stablecoin Activity |
Yield / Rewards |
Status |
Notes |
|---|---|---|---|---|
|
Amazon |
Exploring proprietary stablecoin |
Unknown |
Rumored |
May integrate into payments and customer rewards ecosystem. |
|
Walmart |
Stablecoin project under internal review |
Possible future rewards |
Rumored |
Likely tied to loyalty programs, refunds, and retail payments. |
|
Meta |
Considering re-entry to stablecoins |
Unknown |
Unconfirmed |
Diem (formerly Libra) failed after regulatory pushback; Meta is reportedly revisiting the concept. |
|
World Liberty Financial |
USD1 stablecoin |
Possible DeFi integrations |
Active |
Focused on both retail and institutional stablecoin adoption. |
Other Noteworthy Issuers and Stablecoin Programs
|
Issuer |
Stablecoin or Project |
Yield / Rewards |
Status |
Notes |
|---|---|---|---|---|
|
Robinhood + Paxos |
Global Dollar (USDG) |
No direct rewards (issuer) |
Live in EU |
MiCA-compliant stablecoin designed for everyday users and merchants. |
|
Visa (with banking partners) |
Visa Tokenized Asset Platform |
Infrastructure only |
Pilot in progress |
Enables banks such as BBVA to issue fiat-backed stablecoins and tokenized deposits on-chain. |
What This Means for Savers and Investors
The rapid expansion of stablecoin offerings across banks and fintechs reflects a new phase of digital finance: regulated, institutionally backed, and increasingly geared toward utility and long-term retention. Companies are working to add structured rewards, embedded yield in tokenized funds, and integrations with popular DeFi yield protocols.
We expect the following trends to accelerate:
- Reward-based stablecoins like PayPal USD setting a new precedent
- Tokenized savings accounts that mimic high-yield cash alternatives
- Retail integration from Amazon, Walmart, and others with customer incentive layers
- Institutional entrants offering high-trust custody and settlement rails
Meanwhile, decentralized finance will continue to serve as the primary destination for risk-adjusted yield on stablecoins, especially for more experienced investors.
Stay Updated with Coin Interest Rate
We track stablecoin interest rates, reward programs, and new crypto apps. Interested in getting stablecoin news and updates via our monthly email?
Have a tip or news about a new stablecoin product? Let us know, and we’ll investigate.
