Stablecoin Payment Credibility Debate: BIS Skepticism, Visa-Dunamu Partnership and Strategy Bitcoin Buying Dynamics 2026

From August 28 to 30, 2026, several public reports presented contrasting views on stablecoin payment credibility: BIS General Manager said stablecoins lack credibility for large-scale payments, pointing to tokenized bank deposits; Visa and Dunamu formed a strategic partnership to explore stablecoin payments and AI commerce, and Open Standard's US dollar stablecoin OUSD had more than 140 companies signed up; Strategy held over 840,447 Bitcoin with an average cost of about $75,385, turning from loss to profit after Bitcoin rebounded above $80,000. The following details are organized by source and date.

BIS Questions Stablecoin Payment Credibility: Core Arguments and Evidence

BIS General Manager's Statement and Rationale

According to a Cointelegraph report dated August 29, 2026, Bank for International Settlements (BIS) General Manager Pablo Hernández de Cos stated that stablecoins lack credibility as a means of large-scale payment. He argued that tokenized bank deposits are a more direct alternative. The statement directly responded to whether stablecoins can handle large-value, high-frequency payment functions and directed discussion toward the tokenization of bank deposits under central bank supervision. Readers who wish to verify may consult the original report link.

FSI Findings on Multi-Jurisdictional Regulatory Comparison

The same report also mentioned that a study by the BIS Financial Stability Institute (FSI) compared regulatory rules for stablecoin issuers across five jurisdictions—the United States, the European Union, the United Kingdom, Hong Kong, and Singapore—and found significant differences among them. This finding indicates that even if a stablecoin issuer is compliant in one jurisdiction, it may not meet the regulatory requirements of another; legal applicability and holder protection in cross-border payment scenarios remain uncertain. The research results come from BIS FSI, but the report did not disclose the full report name, so it is recommended to further verify the original document.

Regulatory Disclosure: GENIUS Act Business Restrictions on Stablecoin Issuers

GENIUS Act Key Provisions

According to a Cointelegraph report dated August 29, 2026, the U.S. GENIUS Act stipulates that payment stablecoin issuers may not engage in lending, staking, proprietary trading, or third-party crypto asset custody. This restriction aims to isolate payment stablecoins from traditional banking business risks and prevent issuers from using user funds for high-risk operations. It should be noted that the report did not specify the act's effective status at the time; this article only cites the report and does not constitute a legal conclusion.

Impact on Issuers and Holders

If the above business restrictions take effect, they could significantly compress the revenue model of stablecoin issuers. Traditionally, issuers might obtain additional income through lending or staking; once prohibited, issuers may need to rely more on reserve asset income or transaction fees. For holders, such restrictions may reduce the probability of losses caused by issuer risk operations, but may also affect the long-term sustainability of stablecoins. The specific impact still needs to be judged in conjunction with the final text of the act and regulatory enforcement; this article does not provide investment or legal advice.

Visa-Dunamu Partnership and OUSD Adoption: Stablecoin Payment Implementation Progress

Cooperation Scope: Stablecoin Payments, Cross-Border Remittances, and AI Commerce

According to a Cointelegraph report dated August 28, 2026, Visa and Dunamu, the parent company of Upbit, formed a strategic partnership to jointly explore stablecoin payments, cross-border remittances, and AI-driven commerce. This cooperation is a strategic exploration and does not immediately launch a specific product. The signal it conveys is that mainstream payment networks are testing the feasibility of stablecoins in cross-border and commercial scenarios, but this does not mean that stablecoin payments have already gained full mainstream acceptance or regulatory approval.

OUSD Signed-Up Company List

The same report also pointed out that the U.S. dollar stablecoin OUSD launched by Open Standard has more than 140 companies signed up to use it, including Visa, Mastercard, Stripe, Coinbase, and BlackRock. Two facts should be distinguished: the Visa-Dunamu partnership is a bilateral strategic cooperation; OUSD sign-ups represent industry standard adoption. Although both appear in the same report, the entities and nature are different and should not be conflated. The sign-up list was as of the August 28, 2026 reporting date and may change later.

Strategy Bitcoin Accumulation and Market Signal: Holdings Return to Profit

Strategy Holdings Data and Average Cost

According to a Cointelegraph report dated August 30, 2026, Strategy held more than 840,447 Bitcoin with an average cost of approximately $75,385. As Bitcoin price rebounded above $80,000, Strategy's Bitcoin holdings returned to profit. This data is a snapshot as of the August 30, 2026 report, not real-time data; if the market fluctuates, profits and losses will change accordingly.

Signal of Bitcoin Returning Above $80,000

Strategy's holdings shifting from loss to profit reflects the cost logic of institutional capital in Bitcoin allocation: when the market price is higher than the average cost, the position is in unrealized profit. This dynamic contrasts with the stablecoin payment credibility debate—the former is institutional allocation behavior toward Bitcoin, while the latter is regulatory skepticism about stablecoin payment functions. The asset classes and risk characteristics involved are different and should not be directly analogized. To understand the background of Bitcoin's recent price increase, please refer to relevant analysis on this site.

Verification and Reading Boundaries

All facts in this article come from public Cointelegraph reports from August 28 to 30, 2026, with original links in the external references at the end of the article. BIS statements, GENIUS Act provisions, Visa-Dunamu cooperation content, and Strategy holdings data may be updated as regulations or markets change. OKX Radar is an independent third-party media outlet with no commercial relationship with the institutions involved; this article does not constitute investment advice and makes no assertions about any unverified rates, rankings, or supported regions.