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Stablecoins go mainstream after Circle's blockbuster IPO. Here's what they do
Since its June 5 trading debut, stablecoin issuer Circle's (CRCL) stock has climbed more than 500%. The rising provider has issued over $61 billion worth of its stablecoin USD Coin (USDC-USD), making it the world's second largest in today's $253 billion stablecoin market. On June 30, Circle announced that it had applied to establish a national trust bank charter called First National Digital Currency Bank. If approved, it would be another step toward integrating stablecoins into traditional banking and financial markets. Here’s a look at how stablecoins work and how they've risen to prominence today. Stablecoins ... (full story)
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