Ad payments on one media platform can take 90 days or more to reach the people who earned them. Roundtable’s version settles in USDC in real time. The next day, the Federal Reserve proposed its first rules for the companies that issue stablecoins.
Roundtable Launches USDC Ad Payments for Journalists With Coinbase
Roundtable (Nasdaq: RTB) said on September 23 that its DeFi media payment platform is live, settling ad payments in USDC in real time through smart wallets linked to journalists’ Coinbase accounts. RTB’s Nasdaq-listed shares also started trading on Coinbase that morning.
The scale comes from a 10-year agreement to move 21 media brands and $100 million in advertising onto the platform. That agreement is with Paradium.AI, formerly The Arena Group.
It hasn’t closed. Roundtable clarified on September 18 that it is not acquiring Paradium.AI. It is buying a minority stake from Paradium.AI’s largest shareholder, and closing, expected in Q4 2026, depends on that purchase, including a required capital raise.
The stock rose as much as 10.2% on September 23 before closing up 4.50%. The float is just 5.79 million shares. Market cap has ranged from roughly $140 million to $170 million. Former UK Prime Minister Liz Truss joined the board on September 18.
Solowin Revenue Jumps 895% as Stablecoin Volume Tops $1 Billion
Solowin Holdings (Nasdaq: AXG) reported fiscal 2026 revenue of $28.05 million on September 18, up about 895% from $2.82 million, for the year ended March 31. Stablecoin and fiat trading volume rose 395% to $1.04 billion.
Check the split. AI infrastructure brought in about $22.2 million, or 79% of revenue. Digital asset tokens added roughly $5.6 million. The company posted a net loss of $13.29 million.
Most of the stablecoin business is still ahead of it. AX Coin Bahrain received a full stablecoin issuer license in June, and commercializing its AXUSD and AXBHD tokens is a stated priority. Launches remain subject to approvals and operational readiness.
Chairman and CEO Ling Ngai Lok used the release to answer the Senate’s September 15 failure to advance the CLARITY Act: “Washington’s delay isn’t a threat to us. It’s runway.” Shares fell 5.56% that day anyway, on volume 221 times the daily average. Market cap has ranged from roughly $360 million to $425 million.
Fed Proposes First GENIUS Act Rules for Stablecoin Issuers
The Federal Reserve Board requested public comment on September 24 on two proposals for the stablecoin issuers it supervises. The first would require full backing with permissible reserve assets such as short-term Treasury bills, along with standardized capital requirements and risk management standards. The second sets an application process for Fed-supervised banks that want a subsidiary to issue stablecoins.
It’s late. The GENIUS Act gave regulators and Treasury until July 2026 to have rules in place, and the agencies are past that deadline. Comments run for 60 days after the proposals are published in the Federal Register.
Governor Michael Barr supported the proposal but wants more done on bank anti-money laundering. In his own statement, he said stablecoins only stay stable if holders can redeem them at par quickly, including during market stress.
Both companies above are building on stablecoins. The U.S. rulebook for issuers is still a draft.
RTB, AXG, Fed Stablecoin Rules: Forward-Looking FAQ
Roundtable has to complete its minority share purchase from Paradium.AI’s largest shareholder, which includes a required capital raise. The company expects closing in Q4 2026.
Not yet, per the company’s own release. Commercializing both tokens is a stated priority, and launches remain subject to approvals and operational readiness.
The proposals are open for comment for 60 days after Federal Register publication, and final rules can differ from this draft. Under the statute, the GENIUS Act takes effect on the earlier of January 18, 2027, or 120 days after regulators issue final rules.
Sources
- GlobeNewswire: Powered by Coinbase, Roundtable’s Real-Time DeFi Media Payment Platform Goes Live, September 23, 2026
- GlobeNewswire: Roundtable Clarifies Structure, Equity and Economics of 10-Year, $1 Billion Platform Partnership, September 18, 2026
- StockTitan: Roundtable (RTB) platform launch and September 23 trading data
- StockTitan / GlobeNewswire: AXG Revenue Surges 895% as Stablecoin and Fiat Trading Volume Reaches $1.04 Billion, September 18, 2026
- Federal Reserve Board: Requests Public Comment on Two Proposals for Board-Supervised Payment Stablecoin Issuers Under the GENIUS Act, September 24, 2026
- Federal Reserve Board: Statement on Proposed Regulatory Framework for Stablecoins by Governor Michael S. Barr, September 24, 2026
- CoinDesk: U.S. Federal Reserve Moves on Proposals to Implement GENIUS Act for Stablecoins, September 24, 2026
- The Block: Fed Proposes Reserve Limits, Capital Standards for Stablecoin Issuers Under GENIUS Act, September 24, 2026
- Federal Register: OCC Proposed Rule Implementing the GENIUS Act (effective-date provisions), March 2, 2026
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