# Stablecoin Rails: The Complete Tracker *A running map of stablecoin issuance, payment rails, lending yield, and synthetic dollars across ETH Daily's coverage.* By [Ethereum News](https://ethdaily.io) · 2026-06-15 stablecoins, payments, defi, usdc --- A running map of ETH Daily's stablecoin coverage: who is issuing dollars onchain, who is building the payment and settlement rails, and where the yield is coming from. This page consolidates the deepest reporting on stablecoin issuance, payments infrastructure, lending yield, and synthetic dollars, and updates as the cluster grows. Issuance and New Stablecoins ---------------------------- The roster of onchain dollars and dollar-adjacent assets keeps expanding across issuers, collateral models, and chains. * [Circle Launches cirBTC On Ethereum](https://ethdaily.io/circle-launches-cirbtc): a wrapped Bitcoin backed 1:1 by native BTC at a regulated Circle entity, with reserves verifiable onchain via Chainlink Proof of Reserve. * [Tether Introduces USA₮ Stablecoin](https://ethdaily.io/782): a U.S.-regulated stablecoin designed for GENIUS Act compliance. * [Frax Launches frxUSD Stablecoin](https://ethdaily.io/643): backed by tokenized U.S. Treasuries from BlackRock and Superstate. * [Synthetix Launches USDx Stablecoin](https://ethdaily.io/520): mint and borrow USDx at 0% interest against ARB, USDC, USDe, or ETH collateral. * [Polymarket USD Stablecoin](https://ethdaily.io/919): a native collateral token replacing bridged USDC.e on Polymarket. * [Curve To Launch Over-Collateralized Stablecoin](https://ethdaily.io/025): Michael Egorov's early plan for a USD-pegged, over-collateralized stablecoin. Payments and Settlement Rails ----------------------------- Card networks, chains, and FX platforms are wiring stablecoins into mainstream payment flows. * [Polygon Chain Hits 5,000 TPS After Gas Limit Upgrade](https://ethdaily.io/polygon-chain-hits-5000-tps-after-gas-limit-upgrade): Polygon raised its block gas limit to 160M at 1.5-second blocks, enabling card-network speeds for its Open Money Stack. * [Plasma One Neobank Launches With Aave](https://ethdaily.io/plasma-one-neobank-launches-with-aave): a stablecoin-native neobank allowing users to pay directly from a stablecoin balance while earning yield. * [Mastercard Supports Stablecoin Settlement](https://ethdaily.io/mastercard-supports-stablecoin-settlement): settlement across Mastercard's global network for USDC, PYUSD, USDG, USDP, and RLUSD. * [Mastercard Launches Agent Pay for Machines](https://ethdaily.io/mastercard-launches-agent-pay-for-machines): AP4M permissions, orchestrates, and settles machine payments across cards, accounts, and stablecoins. * [Polygon Stablecoin Payments Platform](https://ethdaily.io/860): regulated fiat access, wallet infrastructure, cross-chain orchestration, and settlement in one stack. * [Codex FX Fiat To Stablecoin Settlement](https://ethdaily.io/907): a stablecoin-powered FX platform for fiat-to-stablecoin and stablecoin-to-stablecoin conversion. Yield and Lending ----------------- Where idle stablecoin balances earn, from blue-chip collateral vaults to higher-yield markets. * [Steakhouse Launches Confidential USDC Yield Vault](https://ethdaily.io/steakhouse-launches-confidential-usdc-yield-vault): a Morpho-powered vault for confidential USDC (cUSDC) using Fully Homomorphic Encryption. * [Coinbase Adds High-Yield USDC Vault](https://ethdaily.io/coinbase-adds-high-yield-usdc-vault): a Morpho-powered High Yield USDC vault on Base, curated by Steakhouse and lending against dynamic, Ethena-backed collateral. * [Coinbase Bitcoin-Backed USDC Loans](https://ethdaily.io/627): borrow USDC against BTC through Coinbase's Morpho integration. * [Morpho V2 Fixed-Rate Lending](https://ethdaily.io/719): intent-based, fixed-rate, fixed-term lending markets. Synthetic Dollars ----------------- Dollar exposure built from derivatives and yield strategies rather than fiat reserves. * [Ethena Releases 2025 Roadmap](https://ethdaily.io/618): the iUSDe stablecoin, a Telegram-integrated savings and payments app, and the Ethereal and Derive protocols. * * * Related Coverage Learn about the financial instruments moving onto these networks in the [RWA Tokenization tracker](https://ethdaily.io/rwa-tokenization-tracker) and see how machines navigate these payments in our [AI Agents tracker](https://ethdaily.io/ai-agents-tracker). Disclaimer: Content is for informational and educational purposes only and does not constitute financial, investment, legal, or other professional advice. No representations or warranties are made as to accuracy, completeness, or timeliness. Use of this content is at your own risk, and you should consult a qualified professional before making decisions. No fiduciary or advisory relationship is created --- *Originally published on [Ethereum News](https://ethdaily.io/stablecoin-rails-tracker)*