132: J.P. Morgan launches a stablecoin (sort of)

Hey, it’s Marc.

A former Citi exec just launched Ubyx, a Visa-like clearing network for stablecoins, backed by Peter Thiel, Coinbase, and Galaxy. It aims to make stablecoins interoperable across banks, merchants, and chains like Solana and Base. [analysis]

Then: We’re hosting a stablecoin event with Fintech Blueprint, Kaiko, Keyrails, and Reown this week in NY. RSPV now, space is limited!

Also, this week:

• JP Morgan launched a stablecoin on Base which isn't a stablecoin

• Walmart and Amazon want to launch their own stablecoins.

• Shopify integrates stablecoins with Stripe and Coinbase (for real)

• Tron plans a U.S. IPO

• FC Barcelona launches Barça.Pass, a digital fan ID

PS: We’re releasing our stablecoin flagship report around Permissionless NYC next week together with Fintech Blueprint. Want to partner & expose yourself to 200k+ digital asset leaders? Reach out.

Top Boardroom Reads This Week

Digital Assets

• Stablecoins and the collapse of the legacy payment model (Dragonfly)

• The great tokenization shift: 2025 and the road ahead (Keyrock)

• Why digital asset adoption is accelerating (Goldman Sachs)

• Stripe’s Endgame (51)

• Circle IPO: Feeding the public market’s hunger for crypto exposure (Pantera)

• Circle | The 1st stablecoin company to IPO dashboard (Token Terminal)

• The evolution of tokens over the year (Binance)

• Stablecoins at an inflection point (Fireblocks)

AI

• Sam Altman on AGI, GPT-5, and what’s next (OpenAI)

• How we built our multi-agent research system (Anthropic)

• A practical guide to building agents (OpenAI)

• Apple’s Viral AI Paper. Reality or Fraud? (Ignacio de Gregorio)