Circle and Kamino Push Stablecoin Liquidity Into the Workflow Layer
Stablecoin competition is moving beyond issuance into the workflow systems that control liquidity, treasury, and payouts.
What is this trend?
Circle and Kamino are moving stablecoin liquidity into the workflow layer, where treasury, lending, and payout systems control how dollars are prefunded, routed, and deployed onchain.
- Stablecoin value is shifting from issuance to workflow control and liquidity routing.
- Circle is linking institutional balance sheets to onchain USDC through BTC-backed borrowing.
- Kamino is broadening multi-stablecoin lending and yield across major dollar assets.
- Middleware and treasury tooling are becoming the real fee-capture layer.
- Operators that own settlement workflows can capture recurring flow, not just token supply.
What’s the latest?
Circle and Kamino are pushing stablecoin control further down the stack, from settlement rails into the workflow layer that governs timing, treasury prefunding, and payout distribution.
How it developed
- Stablecoin Settlement, Tokenized Cash Collateral, and Compliance-Led Institutional DeFi Win the Week
- Stablecoin Settlement Is Emerging as the Fee-Capture Layer
- Tokenized Financing Rails, Stablecoin Front Ends, and Intent Routing Shift Crypto’s Value Stack
- Community Banks Become the On-Ramp for Stablecoin Services
Go deeper
Curated long-form picks on this trend — podcasts, videos, and analysis, by vantage.
If you operate in this industry
Stablecoin Payments Take Aim at Locked Prefunding Cash - OneSafe Blog
Explainer on stablecoin payments reducing locked prefunding cash via 24/7 on-chain liquidity pools.
OneSafe · News
Read →
Custodial vs Self‑Custody and the Complex Ops Behind Stablecoin Card Payments
Analysis on stablecoin spend layers—custodial vs on-chain liquidity, compliance, fraud, FX, and ledger reconciliation.
Token Dispatch · Substack
Read →Stablecoins Move Fast. The Last Mile Still Breaks | The Fintech Times
Explainer interview with Raj Kamal on stablecoin settlement’s fee-capture edge and the “last mile” integration hurdles.
The Fintech Times · News
Read →If you sell into this industry
Visa Positions Itself for the Next Wave of Stablecoin Payments
News analysis on Visa’s stablecoin card settlement infrastructure linking on-chain lending to fee-capture growth.
Yahoo Finance · News
Read →Visa’s $2.5 billion crypto credit bet puts card settlement financing onchain
News analysis on Visa’s $2.5B onchain stablecoin credit bridging card settlement gaps—fee-capture layer trend.
CryptoSlate · News
Read →Visa Stablecoin Settlement Hits $20B: Smart Contract Replaces Bank Lockboxes for 160 Programs
News analysis on Visa’s $20B stablecoin settlement run-rate and smart-contract lockbox automation as fee-capture.
Tech Times · News
Read →If you invest in this industry
Stablecoins Changed the Rails but Haven’t Captured the Economics
News analysis on stablecoins as settlement middleware—who controls wallets and tokenized deposits amid reserve shifts.
PYMNTS · News
Read →Stablecoin Payments Get a Unified Balance Upgrade - OneSafe Blog
Explainer on unified USDC/cirBTC/EURC balances and gas-free Nanopayments enabling Circle-style cross-chain liquidity workflows.
OneSafe.io · News
Read →
Stablecoins Enhance Efficiency for Mid-Tier Banks and Cross-Border Payments
Podcast analysis interview with Cuy Sheffield on stablecoin settlement as fee-capture layer in correspondent banking.
Tokenized · Podcast
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