• Welcome to In The Stables, a weekly briefing on the most important developments shaping the global stablecoin ecosystem. • Each edition delivers clear, data-driven insights into market structure, regulatory momentum, and protocol-level shifts, along with a curated look at supply, flows, and onchain usage trends across the sector. • What’s included this week: Active addresses fell 6.5% WoW to 4.0M and daily transactions declined 4.6% to 58.1M, though both metrics remain above their January monthly averages. • Net USD inflows into stablecoins dropped 82.9% WoW to $249.9M, with the monthly picture flipping to a net outflow of -$4.4B compared to $1.8B in net inflows during January. • Bridge received conditional OCC approval to establish a national trust bank, which would allow it to issue stablecoins and custody digital assets under direct federal oversight. • South Korea ended a nine-year ban on corporate cryptocurrency trading, permitting listed companies and professional investment firms to access domestic exchanges under a new framework that includes pending stablecoin legislation.

Article Summaries:

  • Bridge Secures Conditional OCC Approval for National Trust Bank

Bridge has received conditional approval from the U.S. Office of the Comptroller of the Currency to establish a national trust bank. The charter would allow Bridge National Trust Bank to issue stablecoins, custody digital assets, and manage reserve assets under direct federal supervision, marking a significant regulatory milestone for the stablecoin industry. The approval comes amid broader market softness, with active addresses down 6.5 % week‑over‑week and net USD inflows into stablecoins falling 82.9 % to $249.9 M. Meanwhile, South Korea lifted its nine‑year ban on corporate crypto trading, and other institutional moves-such as OKX’s Malta payment license-continue to shape the evolving regulatory landscape.

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