Yuan Stablecoins, MetaMask USD & Gemini IPO Dey Shake Crypto
China State Council dey review plans to bring in yuan-backed stablecoins make cross-border settlements faster. Di move na to challenge dollar pegged stablecoins like USDT and USDC inside di $279 billion market.
MetaMask don launch e first native stablecoin, MetaMask USD (mUSD), for Ethereum and Linea. mUSD get full backing 1:1 by liquid dollar assets, e dey integrate on-ramps, swaps, and e go power DeFi plus payments through MetaMask Card.
Gemini don file for Nasdaq IPO under ticker GEMI, show say revenue for 2024 na $142.2 million and e hold $18 billion assets even though dem loss $158.5 million net.
YouGov survey talk say payments and AI go be di next waka for crypto adoption. Stablecoins plus on-chain payments fit enter mainstream within three to five years.
CFTC open public comments for im "Crypto Sprint" phase two till October 20, 2025, focusing on registration, custody, and trading rules with SEC coordination.
Bullish
Dis developments dey show say infrastructure and regulatory clarity dey grow for crypto markets. China yan proposal wey talk say dem go use yuan-backed stablecoin fit bring new issuance plus make on-chain settlements quick, like before wey regulated stablecoins don help increase liquidity. MetaMask USD launch na di first self-custodial wallet token, e fit reduce wahala to enter and boost DeFi usage. Gemini IPO filing under GEMI show say institution interest dey rise, like how Coinbase public listing encourage market confidence. YouGov survey show say plenty people fit adopt mainstream use thru payments and AI improvement. Lastly, CFTC open comment for Crypto Sprint phase two dey signal say rules go clear well well, no wahala again. All these tins together support short-term bullish momentum for stablecoin and DeFi sectors plus long-term institution money.