Visa, Mastercard, and Stripe Launch a Stablecoin Together. Here’s What Else Happened in Crypto This Week
The biggest names in payments just launched their own stablecoin. The SEC proposed a crypto custody framework and approved 3x leveraged Bitcoin ETPs in the same week. Crypto funds pulled in $3.55 billion as Bitcoin posted a 33% quarterly gain. And Bitget confirmed the $387.5 million hack we covered last week was North Korea.
Here is everything that mattered in crypto from September 28 to October 4, 2026.
Visa, Mastercard, Stripe, Coinbase, and Shopify Launched a Joint Stablecoin
The biggest payments infrastructure story in years landed on September 30. Visa, Mastercard, Stripe, Coinbase, and Shopify jointly launched Open USD (OUSD), a stablecoin backed by $1 billion in pledged liquidity and more than $400 million in day-one trading volume.
Five companies that together process the majority of global digital payments committing that kind of liquidity on day one signals that stablecoins are moving from a crypto-native instrument into mainstream payment infrastructure.
OUSD enters a market dominated by Tether’s USDT and Circle’s USDC. For businesses already running on Stripe or Shopify, or processing payments through Visa and Mastercard, OUSD offers a path to stablecoin settlement without switching infrastructure providers.
The SEC Proposed a Crypto Custody Framework
On October 1, the SEC proposed rules giving investment advisers and funds a compliant legal path to hold crypto assets. The proposal lays out custody standards, documentation requirements, and safeguarding obligations for registered entities.
Custody has been one of the main blockers for institutional crypto adoption. Without clear SEC guidance, advisers managing client funds faced legal uncertainty around holding Bitcoin or Ethereum directly. If finalized, this proposal removes that ambiguity.
SEC Commissioner Hester Peirce also left the agency on October 2 after nine years. Known as “Crypto Mom” for her consistent advocacy for workable crypto regulation, her departure leaves the SEC with only two commissioners. Rulemaking may slow, but the agency can still move forward on proposals already in progress.
The SEC Also Approved 3x Leveraged Bitcoin and Ether ETPs
The SEC approved the listing of 3x leveraged Bitcoin and Ethereum exchange-traded products the same week it proposed the custody framework.
These products amplify daily price moves by a factor of three. A 5% Bitcoin gain becomes a 15% gain in the product; a 5% loss becomes a 15% loss. They carry significant decay risk over time and are built for active traders, not long-term holders.
The approval expands the product range available to traders who want leveraged crypto exposure without using derivatives directly.
Crypto Funds Pulled In $3.55 Billion in One Week
Crypto investment funds recorded $3.55 billion in inflows during the week, one of the largest weekly figures of the year. Bitcoin posted a 33.4% gain over the third quarter, its strongest quarterly performance since late 2024.
October picked up where Q3 left off. US Bitcoin ETFs recorded roughly $103 million in inflows on the first trading day of the month. The $3.55 billion weekly figure reflects funds, allocators, and treasury desks rebalancing into crypto after a strong quarter, not retail momentum.
Bitget Hack Confirmed as North Korean Operation
Bitget officially confirmed this week that the $387.5 million hack it suffered was carried out by North Korean threat actors. The exchange resumed withdrawals in phases following the attack.
Last week we reported that North Korea’s total crypto theft for 2026 had passed $1 billion. The Bitget confirmation means that single operation accounts for roughly $390 million of that figure, making it the largest crypto theft by a nation-state in 2026. The attack follows the same pattern as the Bybit hack earlier this year: patient reconnaissance, precise execution, rapid laundering.
Fiserv Opened Its Digital Asset Platform to 90+ Banks
Fiserv opened its digital asset platform to more than 90 banks and credit unions this week, with the Roughrider Coin stablecoin going live on Solana as part of the rollout.
Roughrider Coin is North Dakota’s state-backed digital currency. Its launch on Solana through Fiserv’s infrastructure marks the first time a state-backed stablecoin has run on a public blockchain through a mainstream fintech provider.
For community banks and credit unions, Fiserv’s platform offers stablecoin services without building the infrastructure from scratch. With 90+ institutions on board at launch, bank-issued digital dollars are arriving faster than most expected.
US Treasury Sanctioned the A7 Network
The US Treasury’s OFAC designated the A7 Network as a transnational criminal organization, citing its role in sanctions evasion. The designation also identified the A7A5 token as part of the network’s operations.
Earlier Treasury actions targeted individual wallets or exchanges. The A7 Network designation targets an entire network and its native token, which could complicate trading or holding A7A5 on any compliant platform.
ESMA Published Recommendations to Strengthen MiCA
The European Securities and Markets Authority released recommendations calling for changes to MiCA, the EU’s crypto regulatory framework that came into full effect this year. ESMA’s proposals include stronger supervisory powers, tighter marketing standards for crypto firms, and targeted requirements for DeFi protocols.
MiCA’s first months exposed gaps: only about 20% of previously registered crypto firms in the EU received authorization under the new regime. ESMA’s recommendations push for more enforcement tools and coverage of areas the original regulation left ambiguous.
Community Bankers Sued the OCC Over Crypto Charters
The Independent Community Bankers of America filed a lawsuit against the Office of the Comptroller of the Currency, challenging the OCC’s national bank charter framework for crypto firms.
The ICBA argues that granting banking charters to crypto companies creates an uneven competitive landscape for traditional community banks, which face stricter oversight and capital requirements. The lawsuit reflects ongoing tension between incumbent banking institutions and crypto-native firms seeking regulatory legitimacy through the banking system.
Paybis Won Best Crypto Payment Provider 2026
Paybis won the Best Crypto Payment Provider 2026 award at the AIBC Eurasia Awards, held alongside SiGMA Eurasia 2026 in Dubai.
Wrapping Up
This week Visa, Mastercard, Stripe, Coinbase, and Shopify launched OUSD with $1 billion in pledged liquidity, the clearest signal yet that stablecoin settlement is moving into mainstream payments. The SEC proposed a crypto custody framework and approved 3x leveraged Bitcoin and Ether ETPs in the same week. Crypto funds pulled in $3.55 billion as Bitcoin closed the quarter up 33.4%. Bitget confirmed its $387.5 million hack was North Korea, pushing the regime’s 2026 crypto theft past $1 billion. Fiserv put 90+ banks on a stablecoin platform, ESMA called for MiCA rewrites, and community bankers sued the OCC over crypto charters. The infrastructure keeps expanding while the regulatory gaps and security failures keep arriving alongside it.
Disclaimer: Don’t invest unless you’re prepared to lose all the money you invest. This is a high‑risk investment and you should not expect to be protected if something goes wrong. Take 2 mins to learn more at: https://go.payb.is/FCA-Info
