The White House backed crypto firms on April 10, 2026 (14:00 UTC), in their dispute with banks over stablecoin yields. Officials argued yields foster innovation. Banks claimed the products erode deposits.
Crypto leaders met White House advisors in Washington, D.C. They pushed for rules allowing stablecoins to generate yields from U.S. Treasuries. Bank lobbyists countered that such moves threaten financial stability.
Stablecoin Yield Battle in Washington
JPMorgan and Bank of America lobby Congress for caps on stablecoin yields. They aim to protect $18 trillion USD in U.S. deposits, per Federal Reserve data on April 10, 2026. Circle and Tether executives noted stablecoins process $150 billion USD daily in transfers.
The New York Times reported White House economic council members back crypto firms. They see yield-bearing stablecoins as tools for global payments. Banks warn non-banks holding billions USD in Treasuries pose risks.
Users shifted to USDT and USDC for yields over 5% APR. These outpace bank savings below 4%, per CoinMarketCap data on April 10, 2026.
Global Payment Flows Shift
Stablecoins handle remittances from U.S. workers to the Philippines and Mexico. A Dallas worker sends $500 USD in USDT. It reaches Manila instantly, earning 4.8% yield via DeFi.
Funds then flow to Vietnamese suppliers. Exporters hold payments in yield-bearing stablecoins before converting to VND. Chainalysis reported $40 billion USD in stablecoin remittances for Q1 2026.
Nigerian traders use USDC for Chinese imports. Yields compound via smart contracts. This skips bank wires with 6-7% fees, per World Bank data on April 10, 2026.
London fintechs integrate stablecoins in trade finance. A Rotterdam importer pays a Brazilian supplier $2 million USD. Funds earn interest en route.
Market Signals Extreme Caution
Bitcoin traded at $72,898 USD (up 0.6%) on CoinMarketCap as of 16:00 UTC April 10, 2026. Ethereum reached $2,244.69 USD (up 1.1%). USDT held at $1.00 USD.
XRP fell 0.4% to $1.35 USD. BNB dropped 0.3% to $605.78 USD. The Crypto Fear & Greed Index stood at 16, signaling extreme fear.
Stablecoin market cap topped $200 billion USD. Yields drew $50 billion USD inflows since January, per DeFiLlama on April 10, 2026. Banks lost $12 billion USD in deposits quarterly.
Fintech Startups Seize Stablecoin Yield Opportunities
Singapore's YieldFi launched a platform linking stablecoins to tokenized Treasuries on April 10, 2026. It offers 5.2% APR to Southeast Asian users. The firm raised $45 million USD from Tokyo and San Francisco VCs.
London's StableEarn integrated with Revolut for Europeans. Users convert euros to yield-USDC seamlessly. UK regulators approved trials under sandbox rules from April 1, 2026.
Dubai's CryptoYield Hub serves Middle East trade. It ties UAE dirhams to USDT yields for oil exports to India. The platform processes $300 million USD monthly.
Brazil's RemitYield aids Latin American migrants. Smart contracts lock yields for U.S.-to-Sao Paulo transfers, adding 3% over banks.
Ethereum layer-2 networks cut fees to $0.01 USD per transaction. Startups use automated market makers for instant yields.
Cross-Border Economic Impacts
Vietnam's electronics exporters hold $5 billion USD in stablecoins annually. Yields generate $250 million USD extra, funding Ho Chi Minh City expansions. This boosts orders to Taiwanese chipmakers.
Detroit automakers get stablecoin payments from Rotterdam. Yields offset 15% steel cost rises since January, per Bloomberg.
IMF data shows stablecoins stabilize currencies in Argentina and Turkey. Monthly inflows hit $2 billion USD. Central banks in Jakarta and Nairobi test similar tools.
JPMorgan's JPM Coin offers 3.5% APR intra-bank yields. Crypto startups lead with open access and higher rates.
Data Underpins the Surge
Stablecoin transfers hit 8.2 million transactions on April 10, up 12% week-over-week, per Dune Analytics. Yield products hold 35% of supply.
Venture funding for stablecoin fintechs reached $1.2 billion USD in 2026 YTD, per PitchBook on April 10. Asia led with 42% of deals, Europe 28%.
U.S. bank deposit outflows totaled $8.5 billion USD last month, per FDIC. Crypto yields attract retail savers with under $100,000 USD accounts.
Policy Responses Emerge
U.S. Treasury Secretary endorsed regulated yields in an April 10 speech. Lawmakers draft 1:1 Treasury backing bills. Senate hearings start April 15.
EU fast-tracks MiCA for yields. Singapore's MAS issued three licenses this week. Brazil tests wholesale stablecoins with yields.
Crypto firms push G20 standards at IMF Marrakech meetings next month.
Outlook: Stablecoin Yields Reshape Payments
Congressional votes and funding rounds loom. Stablecoin yields could transform $10 trillion USD in global payments. Markets seek clarity amid fear readings.
Track fintech expansion from Dallas to Dubai.