Argentine banks are running a pilot test of JPMorgan’s deposit token, JPM Coin, to improve the efficiency of payment settlements, Cointelegraph reported on Monday citing local outlet iProUP. Argentina’s central bank bans banks from offering cryptocurrency services, but allows the use of crypto-based tools within internal infrastructure. Banco CMF is taking part through its newly launched corporate arm QORP, and other banks are considering joining.

As stablecoins become less a “promising technology” and more an unseen layer of financial infrastructure, market attention is shifting from adoption to how revenue is distributed. OpenTrade co-founder Jeff Handler says the key question for 2026 is who collects fees and captures value. He argues velocity matters more than market capitalisation, citing data showing 2025 stablecoin transaction volume exceeded $33 trillion, up 72% from a year earlier.