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South Korea’s big banks meet Circle, Tether on stablecoin plans
South Korea’s largest banking groups, Shinhan, Hana, KB and Woori, plan to meet in Seoul with Circle and Tether to discuss partnerships for a won‑denominated stablecoin and domestic distribution of dollar‑backed tokens. The moves signal that systemically important banks want a front‑row role in stablecoins ahead of expected regulatory clarity. 
Coinbase and Circle, five years after jointly launching USDC, are evolving their partnership. Coinbase is acquiring an equity stake in Circle, emphasizing their shared vision for the financial future. To further its reach, USDC will launch on six new blockchains between September and October, expanding its multi-chain presence to 15. With clearer global stablecoin regulations, Circle will assume all governance, including smart contract management. The Centre Consortium, initially governing USDC, will dissolve. 
The Super Political Action Committee (Super PAC), Fairshake, dedicated to supporting blockchain proponents in the political arena, has received a $4.9 million boost from Gemini founders Cameron and Tyler Winklevoss, with each contributing $2.45 million. This follows previous backing from notable entities like Andreessen Horowitz, ARK Invest, Circle, Ripple Labs, and many more. 
Facing increased competition from conventional financial giants like PayPal Holdings Inc., Circle is taking strategic measures.
To counter this threat and counterbalance the diminishing market share of its USD Coin stablecoin, Circle is expecting leveraging a substantial cash reserve surpassing $1 billion.
The circulating supply of Circle’s USD Coin has experienced a decline, shrinking from $45 billion to around $26 billion since the start of this year.