More Stablecoin Initiatives: Polymarket Could Be Set To Launch Its Own Stable Asset
The post More Stablecoin Initiatives: Polymarket Could Be Set To Launch Its Own Stable Asset appeared on BitcoinEthereumNews.com. Key Insights: Polymarket is considering creating its own stablecoin to gain control over USDC reserves and yield. The move would require only a few infrastructure changes due to the platform’s closed-loop ecosystem. New U.S. stablecoin laws have made issuance more attractive to both crypto-native and trad-fi firms.. Polymarket is now reportedly considering the launch of its own stablecoin. The predictions platform is doing this to take ownership of the yield generated by the reserves that currently back USDC deposits on the platform. In essence, the move could give the company more control over its internal economy in light of the newly approved GENIUS and CLARITY acts. Why Polymarket Wants to Launch a Stablecoin According to a source familiar with the matter, Polymarket wants to stop leaving money on the table. By issuing its own stablecoin, Polymarket would gain control over the cash and short-term Treasuries that back all of the USDC that is used to make bets on its platform. By doing so, the betting platform can generate yield, and scale or even fund future growth.
The post More Stablecoin Initiatives: Polymarket Could Be Set To Launch Its Own Stable Asset appeared on BitcoinEthereumNews.com.
Key Insights: Polymarket is considering creating its own stablecoin to gain control over USDC reserves and yield. The move would require only a few infrastructure changes due to the platform’s closed-loop ecosystem. New U.S. stablecoin laws have made issuance more attractive to both crypto-native and trad-fi firms.. Polymarket is now reportedly considering the launch of its own stablecoin. The predictions platform is doing this to take ownership of the yield generated by the reserves that currently back USDC deposits on the platform. In essence, the move could give the company more control over its internal economy in light of the newly approved GENIUS and CLARITY acts. Why Polymarket Wants to Launch a Stablecoin According to a source familiar with the matter, Polymarket wants to stop leaving money on the table. By issuing its own stablecoin, Polymarket would gain control over the cash and short-term Treasuries that back all of the USDC that is used to make bets on its platform. By doing so, the betting platform can generate yield, and scale or even fund future growth.
What's Your Reaction?
