Argentina Embraces Stablecoins as Peso Alternative Amid 100%+ Inflation

**JPMorgan CEO Jamie Dimon** continues to express skepticism about immediate Federal Reserve rate cuts while **praising stablecoins** for their financial potential. This marks a notable shift for the banking executive, who has been a vocal crypto critic in the past. Dimon's **positive stance on stablecoins** contrasts with his continued skepticism toward Bitcoin. - Dimon doubts Fed will cut rates soon - **Endorses stablecoin utility** in finance - Maintains anti-Bitcoin position The comments reflect growing institutional recognition of stablecoins as legitimate financial tools, even among traditional banking leaders.

**PayPal Ventures** has invested an undisclosed amount in **Stable protocol**, a blockchain initiative backed by Tether and Bitfinex. **Key developments:** - PayPal's PYUSD stablecoin will be integrated into Stablechain - LayerZero will provide implementation support for the integration - The partnership expands PYUSD's reach beyond traditional payment rails This collaboration represents a significant step in **bridging traditional finance with DeFi infrastructure**, as PayPal continues expanding its digital asset offerings through strategic blockchain partnerships.

**Major ETF Breakthrough** Rex-Osprey's XRP and DOGE ETFs launched with impressive trading volumes, with **XRPR achieving the largest day-one trading** of any 2025 ETF launch. **Regulatory Progress** The SEC approved new rules for spot digital asset-backed funds, allowing exchanges to list them **without individual approvals**. This could accelerate listings for Solana and XRP products. **New Trading Options** - Grayscale's Digital Large Cap Fund (GDLC) began trading on NYSE - Features major cryptocurrencies: BTC, ETH, XRP, SOL, and ADA - Provides diversified crypto exposure through traditional markets **FTX Recovery Update** FTX plans to distribute **$1.6 billion to creditors** starting September 30, marking progress in the exchange's bankruptcy proceedings. **DeFi Innovation** A new CDP protocol now enables XRP (FXRP) as collateral to mint stablecoins - the **first DeFi integration** of major assets like XRP and Bitcoin for stablecoin creation. These developments signal growing institutional acceptance and regulatory clarity for digital assets.

Chinese e-commerce giant JD.com plans to launch a stablecoin in Q4 2025, joining a growing trend of major financial institutions entering the digital currency space. Key developments: - JD's stablecoin will be pegged to HKD and other currencies - Initial B2B focus with planned expansion to retail in Hong Kong and Macau - Public blockchain implementation for transparency - HKMA-supervised testing since July 2024 This follows significant moves by traditional finance: - Major US banks discussing consortium stablecoin - HSBC launches tokenized deposits in Hong Kong - BNP Paribas introduces tokenized money market fund - Hong Kong passes comprehensive stablecoin regulation [Read HKMA press release](https://www.hkma.gov.hk/eng/news-and-media/press-releases/2025/05/20250521-3/)