Binance affiliates have filed a lawsuit against the founders of Hong Kong-based crypto payments firm RedotPay over the alleged diversion of hundreds of thousands of Binance customers and an alleged breach of contract.

 

In the lawsuit, Binance affiliates Nest Trading Ltd., Distributed Technologies Ltd., and Chaintecs Consulting Singapore Pte. accuse RedotPay cofounders Gao Zhangpeng, Chan Wa Choi, and Yao Chao of violating the terms of an agreement signed by both parties last year.

 

According to the filing, the two companies signed an agreement last year under which Binance said it received assurances that Binance Pay funds would be kept separate from RedotPay's own operations.

 

Under the agreement, Binance users could use RedotPay only for crypto-to-fiat conversions, in-app transfers, or the purchase of RedotPay branded products.

 

However, Binance now claims that RedotPay violated the agreement by allowing and encouraging Binance Pay funds to be used beyond the agreed terms, including to top up RedotPay cards. Binance alleges that this resulted in the diversion of more than 470,000 of its users to RedotPay's competing product, contributing to the company's increased valuation.

 

Estimating the lifetime value of each customer at $925, Binance is seeking about $472.8 million in damages for the more than 470,000 customers it alleges RedotPay diverted to its platform.

 

Responding to the lawsuit in a blog post published on its website, RedotPay said it was confident in its legal position and would vigorously defend itself against all claims. 

 

The lawsuit comes at a time when RedotPay has witnessed significant growth and is considering an initial public offering that could value the company at $4 billion.

 

The company also claims to have grown its user base by more than 33% to over 8 million users in the last six months and to have generated more than $180 million in revenue from an annualised payment volume exceeding $14 billion.

 

 

Mastercard has completed its acquisition of stablecoin payment infrastructure company BVNK.

 

According to Mastercard, the acquisition marks a step toward advancing the company's strategy of enabling seamless value exchange between people and businesses through interoperability between fiat and digital currencies.

 

"In a multi-money world where fiat, stablecoins, tokenised deposits, and other forms of value coexist, the next payments paradigm will be defined by how effectively each rail, network, or form of money connects and works together," said Jorn Lambert, chief product officer at Mastercard.

 

"By combining Mastercard's global network with BVNK's on-chain infrastructure and stablecoin native technology, we can deliver a more efficient, trusted, and seamless payment experience."

 

Mastercard's acquisition of BVNK comes five months after it announced that it had reached a definitive agreement to acquire BVNK for $1.8 billion. The agreement was reached after Coinbase, the principal contender that had also been pursuing an acquisition of BVNK, mutually ended acquisition talks.

 

About BVNK

Founded in 2021, BVNK is a London-based crypto infrastructure company that bridges the gap between traditional finance and blockchain finance.

 

Through its stablecoin payment infrastructure, BVNK makes stablecoins compliant and practical for real-world use. The company also provides the infrastructure that enables businesses, fintechs, and payment service providers to receive, convert, and settle payments across fiat and digital currencies.

 

Prior to its acquisition, BVNK had raised more than $90 million across two seed funding rounds. By the end of 2025, the company had reached an annualised payment volume of nearly $30 billion, onboarded 226 new enterprise clients during the year, and supported payments in more than 230 countries.

 

 

MoneyGram has launched MGUSD, a U.S. dollar pegged stablecoin on the Stellar blockchain network, aimed at facilitating cross border transfers and remittances.

 

According to MoneyGram, the MGUSD stablecoin is designed to serve non crypto native users, particularly people who regularly move money across borders and those with little or no access to local financial services, including individuals living in high inflation markets.

 

 

By launching MGUSD, MoneyGram aims to provide these users with greater financial stability, enabling them to hold and access their dollar denominated MGUSD assets around the clock and convert MGUSD into local currencies whenever they choose, from anywhere in the world and on their own terms.

 

"The stablecoin market has largely focused on the asset itself. MoneyGram is taking a fundamentally different approach. Starting with our distribution platform, we're using stablecoin as a foundation to build future applications on our global network," said Anthony Soohoo, Chairman and Chief Executive Officer of MoneyGram.

 

"MGUSD is the stablecoin we built for our customers, for the families sending money home and for the billions of people around the world with limited financial access."

 

The launch of MGUSD was made possible through partnerships with several companies involved in the project. These include Stellar, which provides the blockchain on which MGUSD is issued; Bridge, a Stripe owned company that serves as the regulated issuer of the stablecoin; M0, which provides the smart contract infrastructure for minting and burning the stablecoin; and Fireblocks, which provides custodial services.

 

MGUSD will be integrated directly into the MoneyGram app through a self custodial wallet that will allow users to view their dollar denominated balances. Although MGUSD has launched in the U.S. market, MoneyGram said it plans to expand the stablecoin's availability globally.

 

About MoneyGram 

MoneyGram is a global financial services company that provides fast, accessible cross border money transfers, particularly for people with limited access to traditional banking services. Its core mission is to make sending money across borders simple, reliable, and accessible to millions of migrant workers and their families.

 

In line with this mission, MoneyGram operates one of the world's largest networks, with nearly 500,000 agent locations worldwide and more than 5 billion endpoints. The company serves more than 60 million active users across 200 countries and territories.

 

 

Flipcash, a digital payment app founded by Ted Livingston, the founder of messaging app Kik, has partnered with Coinbase to launch USDF, a stablecoin pegged to the U.S. dollar.

 

 

According to Coinbase, the launch aims to make stablecoin issuance more accessible. Through the partnership, Flipcash can leverage Coinbase’s custom stablecoin platform to create its own stablecoin asset without having to handle much of the underlying technical complexity itself. As a result, Flipcash does not need to build an entire stablecoin infrastructure from scratch.

 

The USDF stablecoin will be issued on the Solana blockchain and will be 1:1 backed by USDC. It will also serve as Flipcash’s native currency. Since Flipcash allows users to create their own digital currencies, USDF will be the asset in which those currencies are priced and settled. It will serve as the settlement asset for trading digital currencies within the Flipcash app.

 

Coinbase’s Custom Stablecoin Platform 

Coinbase custom stablecoin, or stablecoin as a service, is a platform launched by Coinbase in 2025 that allows businesses to easily create and issue their own branded stablecoins backed by the United States dollar.

 

As the stablecoin market continues to grow and gain institutional adoption, Coinbase launched its stablecoin platform to make it easier for businesses to enter the stablecoin market, reducing the technical and compliance work associated with issuing stablecoins.

 

Stablecoins launched on Coinbase’s custom stablecoin platform, including USDF, which is the first stablecoin created on the platform, will maintain a 1-to-1 backing with USDC and will be supported across multiple chains, including Base and Solana.

 

About Flipcash 

Flipcash is a Solana-based non-custodial mobile wallet and digital payment app created by Canadian entrepreneur Ted Livingston in 2021.

 

It was created to digitize cash and make peer-to-peer payments as frictionless as possible. Through its “Currency Creator” feature, which officially went live last month, Flipcash allows anyone to create a fixed supply of digital currencies.

 

 

Zerohash, a leading crypto infrastructure provider, has received an Electronic Money Institution (EMI) license from De Nederlandsche Bank, the Dutch central bank.

 

The EMI license comes shortly after it secured a Markets in Crypto Assets Regulation (MiCAR) license in October 2025 from the Dutch Authority for the Financial Markets (AFM).

 

With the EMI license secured, Zerohash is now the first MiCAR-licensed firm to obtain an Electronic Money Institution license in accordance with the European Banking Authority’s June 2025 No Action Letter and February 2026 clarifications, which gave crypto firms and stablecoin issuers a temporary breathing space to get their payment licenses in order by March 2nd of this year.

 

 

By securing the EMI license, Zerohash positions itself to issue, manage, and support stablecoin-powered payments using e-money tokens across the European Economic Area. Zerohash now has the regulatory basis to integrate crypto and traditional electronic money flows for its institutional clients.

 

"Europe has a massive market for stablecoin applications," said Roeland Goldberg, Managing Director, Europe at Zerohash. "The announcement comes on the heels of accelerating momentum for Zerohash across Europe. In recent months, the company has expanded its European Union presence in Amsterdam and is now powering partners, including Interactive Brokers Europe, in the region."

 

Alongside the previously secured MiCAR license, Zerohash can now serve its institutional clients, including banks, fintechs, brokerages, payment providers, and large enterprises, providing compliant stablecoin settlement, remittances, and digital asset services across Europe.

 

About Zerohash 

Zerohash is a leading infrastructure provider for crypto, stablecoins, and tokenized assets. Through its application programming interface (API) and embeddable developer kit, it enables large institutions, including banks, brokerages, and fintech companies, to integrate crypto trading, stablecoin payments, custody, tokenization, and fiat to crypto and crypto to fiat conversion services into their own platforms, without having to build complex backend infrastructure or navigate regulatory frameworks themselves.

 

Zerohash is currently a licensed money transmitter in 51 United States jurisdictions and serves more than 5 million users across over 190 countries. Its crypto and stablecoin infrastructure has also been used by several institutional firms, including Interactive Brokers, Stripe, Franklin Templeton, and MoneyLion, with its infrastructure also supporting BlackRock’s BUIDL fund.

 

 

Corpay, the leading corporate payments company, has partnered with stablecoin infrastructure company BVNK to provide stablecoin wallets and settlement capabilities to its global customer base.

 

The partnership, announced on Monday, will see the integration of stablecoin wallet capabilities into Corpay’s financial platform, enabling its customers to view stablecoin balances alongside their fiat balances, while also providing embedded stablecoin wallets for sending, receiving, storing, and converting stablecoins, all within the platform.

 

 

Corpay will also integrate stablecoin rails into its treasury operations, reducing reliance on pre-funded accounts when sending and receiving funds. This is expected to improve capital efficiency and enhance the way funds are moved globally. As a result, customers will no longer be limited to traditional banking hours, as the embedded stablecoin rails will allow them to process transactions even outside these hours.

 

“At our scale, the ability to move liquidity quickly and reliably is critical,” said Mark Frey, Group President, Corpay Cross Border Solutions. “Stablecoins introduce a 24/7 settlement capability that strengthens our existing infrastructure. BVNK provides the technology and compliance framework we need to deliver this securely and at scale.”

 

Jesse Hemson Struthers, CEO of BVNK, said in a statement that he believes stablecoins are reshaping the foundation of global payments, and that Corpay’s scale and reach make the two companies ideal partners in bringing these stablecoin capabilities into the mainstream.

 

What to Know About Corpay and BVNK

Corpay is a global S&P 500 corporate payments company that enables businesses and users to manage and pay expenses in a simple and controlled manner. In 2025, it recorded revenue of about $4.5 billion, a 14% year over year increase, and reported $1.26 billion in revenue last quarter. Corpay currently serves over 800,000 business clients globally.

 

BVNK, on the other hand, is an enterprise-grade stablecoin payment infrastructure company that enables businesses and corporates to send, receive, store, convert, and settle transactions using stablecoins. 

 

As one of the most notable stablecoin infrastructure companies, BVNK processed about $30 billion in annualized stablecoin payment volume last year and has been integrated into several major traditional finance platforms, including Visa, Mastercard, Worldpay, and Deel.

 

 

Polygon, the leading Ethereum Layer 2 scaling solution, has partnered with Hinkal, a blockchain privacy protocol, to launch private stablecoin payments within its crypto wallet.

 

The partnership, according to Polygon, is aimed at bridging the gap between on chain rails and the needs of institutional finance, while facilitating private stablecoin payments among institutional clients that often process large volumes of transactions.

 

 

Talking about institutional clients, Polygon wrote on its blog, “They won't move operational flows onto a ledger that broadcasts every counterparty and every amount to every observer on the network. We've now enabled what institutions expect in the Polygon wallet”.

 

To maintain transparency, most public blockchains are designed to publicly record key transaction details, including information about the sender, the recipient, and the amount sent. While this level of transparency is unmatched, it has, however, prevented large institutions that uphold high standards of privacy from coming on chain.

 

To ensure institutional clients do not continue making this trade off, Polygon, in collaboration with Hinkal, created this stablecoin payment privacy feature that allows both retail and institutional users to make stablecoin payments within the Polygon wallet, while shielding sensitive details about the transaction, including information about the sender, the recipient, and the amount transacted.

 

To provide the best on-chain experience, this privacy feature leverages Polygon’s speed and low-cost transactions and Hinkal’s zero-knowledge proofs, which allow the shielding and routing of stablecoin payments. Since Hinkal is a non-custodial protocol, funds will always remain in the custody of users.

 

Polygon Accelerates Blockchain Expansion Efforts

The rollout of these private stablecoin payments comes a few days after social media giant Meta partnered with Polygon to enable payments to creators in the USDC stablecoin, an initiative that is expected to reach more than 160 countries before the end of the year.

 

As part of its expansion efforts and its big bet on stablecoins, Polygon acquired Coinme, a U.S.-based cryptocurrency cash exchange, in January of this year for $250 million. It has also integrated with and partnered with major traditional finance platforms, including Visa and Mastercard.

 

 

Social media giant Meta is currently running a pilot program that tests issuing creators’ payouts in stablecoins. “Meta now offers USDC stablecoin payouts via supported crypto wallets on the Solana and Polygon blockchain networks,” the team wrote on its Business Help Center page

 

Since this is still a pilot program, only creators in Colombia and the Philippines are currently eligible for the service, with the program expected to expand to more than 160 countries before the end of the year, according to an X post by Polygon Labs.

 

 

While the announcement was well received by many in the crypto community, a spokesperson for Meta clarified the goal of the initiative, stating that Meta was not issuing its own stablecoin but was instead tapping into Circle’s $77 billion USDC stablecoin, with plans to integrate the stablecoin into its payment infrastructure.

 

The Meta USDC creator payout program is currently supported by several popular crypto wallets, including MetaMask, Phantom, and Binance, with global payments platform Stripe handling the technical infrastructure and serving as the payments provider. Solana and Polygon are the only blockchain networks currently supported for this program.

 

Meta Pushes Again Into Crypto After Setbacks

Meta’s recent move into crypto follows several setbacks it has had to deal with in the past. In 2019, it launched Libra, a cryptocurrency which it said could be used across its different social media platforms, including Facebook, Instagram, and WhatsApp.

 

However, things did not go as planned, as some stakeholders, such as PayPal, Mastercard, and Visa, which were involved in the project, started pulling out due to scrutiny and backlash from U.S. regulators and from some members of the U.S. Congress.

 

Although Meta made several efforts to save the project, including rebranding it from Libra to Diem, a stablecoin backed by the U.S. dollar in an effort to appease federal regulators, nothing worked, as federal regulators stated that the project could not move forward.

 

Other projects associated with Libra and Diem, such as the Novi wallet, a cryptocurrency wallet built by Meta that allowed users to hold and transfer Libra, also failed, and the entire project was eventually wound down. According to Stuart Levey, then CEO of the Diem Association, “it became clear from our dialogue with federal regulators that the project could not move ahead.”

 

 

Global payments giant Visa has partnered with the decentralized onchain bank WeFi to enable crypto based payments while allowing users to maintain full custody of their digital assets.

 

The partnership will initially focus on exploring ways in which WeFi’s onchain banking infrastructure can be leveraged to scale stablecoin based payments in selected markets.

 

“As interest in digital assets grows, our focus is on making these new models practical at scale by connecting them to payment experiences people already trust,” Mathieu Altwegg, Visa’s Head of Product and Solutions in Europe, said. “This collaboration demonstrates how Visa’s global network interacts with onchain models.”

 

The partnership is significant as it represents a shift in custodial practices, where users often hand over their digital assets to cryptocurrency exchanges. Since WeFi offers self custody, users will be able to maintain full control of their assets while leveraging Visa’s global payment rails and using digital assets to make payments anywhere Visa is accepted.

 

The rollout will take place one region at a time, with Europe, Asia, and Latin America among the first beneficiaries, while expansion continues into additional markets depending on regulatory approvals and partnerships.

 

“People expect money to work seamlessly across borders without unnecessary complexity. We see this partnership as a way to work with Visa’s capabilities as we continue to develop WeFi’s debanking offering across key regions,” said Maksym Sakharov, WeFi co founder and CEO.

 

What is WeFi? 

WeFi is a blockchain based decentralized on chain bank (deobank) founded by Maksym Sakharov and Reeve Collins, a co founder of Tether.

 

Through its mobile first, simple interface, WeFi provides financial services to more than 1.4 billion unbanked people worldwide, allowing them to maintain full custody of their digital assets while facilitating crypto based payments and cross border transfers.

 

Since its launch last year, WeFi has grown significantly, serving more than 150,000 users across over 80 countries. To support crypto based payments, WeFi has partnered with industry players including LayerZero and has announced integrations with companies such as Binance and Visa.

 

 

Global financial services company Western Union has announced its plans to launch its long awaited U.S. Dollar Payment Token (USDPT) stablecoin next month.

 

The Solana based USDPT stablecoin, which is to be issued by crypto bank Anchorage Digital, is already in its final stages of preparation and is expected to launch, Devin McGranahan, Western Union CEO and President, revealed during the firm’s recent first quarter earnings call.

 

"It is no longer a question of if Western Union will be active in digital assets; it is now how fast we can scale," McGranahan said during the call with investors and financial analysts.

 

McGranahan also revealed in a Q&A session that the USDPT stablecoin will not be launched as a consumer product, but will instead initially be used internally as an alternative to the SWIFT network. With the USDPT stablecoin, Western Union aims to facilitate fast transaction settlements in real time with its agents around the world.

 

Other Services to Be Launched Alongside USDPT

Alongside the USDPT stablecoin, Western Union will be launching two additional services and products: its USD stablecard and the Digital Asset Network, or DAN, which allows digital assets, including USDPT and crypto wallets, to connect with Western Union’s existing infrastructure.

 

By means of a single connection to Western Union’s API, DAN provides off ramp services to users, enabling them to convert stablecoins held in crypto wallets into local currencies.

 

"Through DAN, millions of wallet users will be able to move from digital assets into local currency using Western Union's retail network, with an experience that is simple for customers and familiar for our agents," McGranahan said, while also stating that the first partner of the network will be revealed next week. DAN will be made available in over 360,000 locations across more than 200 countries and territories.

 

To allow users to hold value in stablecoins, including USDPT, Western Union will also be launching its USD stablecard, a consumer based card developed by crypto wallet provider Rain and Visa.

 

The stablecard, according to McGranahan, will be especially compelling in inflation sensitive markets where customers want dollar denominated value, and it will be launched across dozens of markets worldwide. With the card, users living in areas hit by high inflation will be able to hold USD based stablecoins and spend them globally.

 

 

Singapore-based fintech company Nium has partnered with cryptocurrency exchange Coinbase to integrate the USDC stablecoin into its global payment network.

 

The integration, announced this week, leverages Coinbase’s custody, liquidity, and wallet infrastructure, allowing Nium’s clients and users to perform cross-border payments in USDC and settle transactions in either stablecoins or local currencies.

 

 

As Coinbase will provide the wallet infrastructure, Nium clients will be able to fund accounts in USDC within a Coinbase wallet embedded in the Nium platform. The USDC can then be converted to fiat currency by Coinbase and paid out through Nium, all within a single workflow on the platform.

 

Through this partnership, Nium will enable end-to-end stablecoin-to-fiat payment flows that allow users to send, receive, and convert stablecoins into fiat across more than 190 countries within a single platform.

 

Speaking about the partnership, Prajit Nanu, CEO of Nium, said it is aimed at providing clients with a more efficient way to move and manage money globally. He added that the collaboration improves capital efficiency while supporting a future in which stablecoins play a central role in Nium’s payment stack.

 

About Nium 

Based in Singapore, Nium is a cross-border payments company that allows users, including retail and institutional clients, to perform cross-border remittances and transactions.

 

Apart from being a core traditional finance company, Nium has in the past made several pro-crypto moves, especially in the stablecoin space.

 

In March of this year, it launched a stablecoin card issuance platform that allows companies holding stablecoins to issue spending cards on both the Visa and Mastercard networks through a single API integration on its platform. To enable USDC settlements on its platform, Nium last year participated in Visa’s stablecoin settlement pilot, which eventually made it possible for the company to settle cross-border transactions using stablecoins across different supported blockchain networks.

 

Like Nium, several other Singapore-based traditional finance companies have taken pro-crypto steps in recent times, integrating blockchain technology and crypto support into their platforms. Notable among them is DBS Bank, Singapore’s largest bank, which launched the DBS Digital Exchange, a platform for asset tokenization, crypto trading, and custody.

 

Cryptocurrency exchanges, including Kraken, OKX, Binance, and Bybit, have also partnered with traditional finance institutions to help bridge the gap between traditional finance and decentralized finance.

 

 

Coinbase dropped a new public discovery tool aimed at making it easier for both people and AI agents to find and use paid online services that settle instantly with crypto micropayments.

 

The platform went live today at agentic.market and works as an open directory for thousands of services built on the x402 protocol. You can jump in and browse immediately without login, API keys, nothing like that required. It pulls fresh data straight from real payments moving through Coinbase’s Developer Platform, so you see live pricing, how much volume each service is actually getting, how many different users are paying, and the latest activity timestamps. This release picks up right where Coinbase left off with its Agentic Wallets back in February, which first let AI agents hold their own funds and spend them independently. 

 

The x402 Bazaar is where paid online services show up once they’re set up with the right discovery info and start receiving payments, so you don’t have to submit a separate listing. It acts as x402’s backend index, tracking what’s available, how it’s priced, and what’s happening on-chain, while Agentic.Market turns that into a public marketplace where people and AI agents can easily search, compare, and plug these services into their workflows. This includes things like AI model runs, data and analytics feeds, media tools for images and video, search and scraping services, social and messaging integrations, core infrastructure like storage and compute, and even trading tools for moving assets around. Coinbase says the protocol is built so both humans and machines can pay programmatically for things like paid APIs, pay‑per‑call tools, and agents buying access at runtime, so the whole setup is really about making it simple.

 

 

Coinbase noted that the x402 protocol already has more than 165 million transactions and moved roughly 50 million dollars in volume, with over 480,000 agents actively taking part across around 100,000 services. The directory puts the busiest and most reliable ones front and center, which helps both humans and machines figure out what is actually getting real traction day to day. 

 

This is about smoothing out the little daily frictions that slow down building, and rolling out useful agents that can move naturally between on-chain steps like shifting assets or chasing better yields and off-chain jobs like running inference or grabbing fresh data, all paid for through in stablecoins. Teams handling internal automation or tools that face customers now have one, clean spot with data to check out providers without digging through random docs or dealing with payment mismatches. Work in DeFi or tokenization gets clearer ways to add agent driven logic that works natively instead of forcing awkward bridges or extra steps.

 

This is still early, so real momentum will come down to more services jumping on the x402 standard and agents getting better at handling payment details and safety checks on their own. Even with that, the way it indexes itself automatically and stays completely open shows Coinbase leaning toward letting the ecosystem expand through actual use rather than any kind of control. Groups that start implementing x402 features into their agents today could end up in a much better spot, as these machine-to-machine payments become normal.