In the domestic cryptocurrency market, WLD, XRP, and ONDO are attracting attention with higher trading volumes compared to overseas. WLD, in particular, had a domestic share 23.9 times higher than overseas. In contrast, HYPE and BNB recorded more active trading volumes overseas. CC showed the highest Kimchi premium, while some stocks showed a negative premium.

Sky Protocol's issuer credit rating was maintained at 'B-' by S&P. While the supply of USDS·DAI and the proportion of US Treasury-based assets increased, the complexity of management has risen due to the expansion of over-the-counter lending and diversification of operating entities.

The total market capitalization of stablecoins has surpassed $312.8 billion, showing a gradual increase. In particular, the Stellar chain has experienced rapid growth of 144%, recording the highest growth rate among major chains. Tether and USD Coin maintained their top market share positions.

Stablecoin is promoting the introduction of PayPal USD (PYUSD) and integration with Visa Direct, expanding its infrastructure to connect on-chain stablecoin payments with existing payment networks. Through this, it plans to strengthen support for major regulated stablecoins and enhance global payment capabilities by transferring on-chain settlement value to real-world payment touchpoints.

Significant liquidity has exited Centra's Morpho RLUSD and PYUSD vaults in the aftermath of a MetaMask infrastructure incident. Approximately $8.46 million was withdrawn from the RLUSD vault and $2.38 million from the PYUSD vault. MetaMask stated there was no direct threat to wallets.

BitMart has presented a plan for handling outstanding user balances, contingent upon court approval. Users can opt to receive distributions in liquid assets such as fiat currency, stablecoins, or major cryptocurrencies, or choose between recovery tokens or tokens based on potential future profit distribution.

In the domestic cryptocurrency market, XRP, XLM, and HBAR showed high trading concentration. Notably, ONDO and WLD had significantly higher domestic trading proportions compared to global markets. Recently, LIT experienced a sharp decline, leading to a surge in trading volume, while HBAR exhibited the highest Kimchi premium.

A proposal has been submitted to the Aave (AAVE) governance forum suggesting that Centra, an institutional-grade DeFi platform, can operate its lending market independently within Aave V4. Under this proposal, Centra would manage market operations while the Aave DAO would retain ownership of the smart contracts, with profits to be split evenly.

Centra has proposed operating an independent lending market supporting RLUSD, PYUSD, and OUSD on Aave V4. Centra will be responsible for collateral selection, risk management, etc., and profits will be split 50/50 with the Aave DAO. USDC and USDT will be excluded.

A proposal has been made for Centora to manage market operations in Aave V4 and distribute 50% of the revenue. However, measures to compensate for supplier losses have not been clearly presented, leading to controversy over the risk-sharing ratio.

The global trending #1 was Chainlink (LINK), with infrastructure and payment-related coins ranking high. In Korea, MARSCOIN took the top spot, showing a different trend from the global market. Some assets like Bitcoin and Ethereum received attention in both markets.

The supply gap between Ripple's RLUSD and PayPal's PYUSD has narrowed to approximately $247 million. Recently, RLUSD's supply has increased while PYUSD's has decreased, reducing the gap, but PYUSD still leads in supply volume. The actual usage of both stablecoins should be assessed comprehensively, considering transaction volume and active addresses beyond issuance.

The trading volume of ONDO on domestic exchanges was 24 times higher than overseas, highlighting a strong domestic concentration. Similar trends were observed for WLD and XLM, while PUMP garnered attention for its surge in trading volume. ONDO showed the highest Kimchi premium.

Bithumb is set to begin supporting trading for Quark AI (Q) and PayPal USD (PYUSD), according to a report by Blockbeat. This is expected to increase the accessibility of these two virtual assets in the domestic market.

Visa expanded its address label range by 40 times and excluded more non-economic activities when aggregating stablecoin transaction volume. This led to a decrease in adjusted transaction volume, but it is difficult to conclude that this led to a decrease in actual payment usage. Comparative data based on the same criteria is needed.

Mastercard has completed the acquisition of stablecoin infrastructure company BVNK for up to $1.8 billion. Through this acquisition, Mastercard plans to strengthen its payment network connecting fiat currencies and digital assets, and expand the use of stablecoins in corporate payments and settlements.

PayPal is expanding its dollar-pegged stablecoin, PYUSD, to 70 markets worldwide. Available from March 17, 2026, it will support purchasing, holding, sending, receiving, and in some regions, transferring to third-party wallets and exchanging for local currency. This expansion broadens support to include Asia, Europe, and Latin America.

SoFi Bank has started settlements using its stablecoin SoFiUSD on Mastercard's global payment network. This marks the application of stablecoins to post-card transaction settlement methods. Mastercard had previously announced its support for settlements using regulated stablecoins such as USDC and PYUSD.

SoFi is now settling card transactions using its SoFiUSD stablecoin on Mastercard's network, a move expected to process over $25 billion annually. This marks the first bank to implement stablecoin settlement on Mastercard's platform, aiming to streamline business payments.

Based on closing prices from September 14-19, Arbitrum rose 54.2% and Near Protocol rose 45.3%. STABLE-2 fell 11.9% and Piecoin fell 14.4%. The market rebound is analyzed to be driven by Bitcoin recovering to $80,000 and the liquidation of short positions.