Stablecoins are going mainstream.

Klarna launches its own stablecoin

Klarna has introduced KlarnaUSD, a fully backed US dollar stablecoin that integrates directly into Klarna’s global payment network. With over 27 trillion dollars in processed transactions, this is likely the largest consumer-facing stablecoin rollout ever. Klarna’s 150 million users gain seamless access to digital dollars for everyday spending.

The significance goes beyond a fintech launching a token. A mainstream payment giant adopting stablecoins shows how digital money is becoming part of daily financial infrastructure. With clear US and EU regulation, this marks a major step toward stablecoins becoming a global standard.

Ondo receives full MiCAR license in Europe

Ondo Finance has secured a full MiCAR license from the European Union, giving it approval to offer regulated on-chain financial products. This includes tokenized US assets and stocks, which investors can now access directly on-chain. It is a major milestone and positions Ondo among the first fully regulated players in Europe.

For the broader crypto market, this is another sign that tokenized assets are accelerating. Ondo is already a core holding in Novelist portfolios, and this regulatory approval strengthens the thesis behind its long-term relevance.

Tether becomes the world’s largest buyer of gold

Tether, the issuer of the world’s largest stablecoin, has quietly become the largest buyer of physical gold globally. The company has expanded its reserves with significant gold holdings, creating an additional strategic backstop next to dollars and treasuries. This marks a notable evolution in how stablecoin issuers manage reserves.

It also shows the growing macro influence of stablecoins. Their reserve strategies now reach beyond financial markets into commodities like gold, highlighting their increasing systemic importance.