Financial companies join forces for US dollar stablecoin, keeping reserve earnings
CoinTelegraph·
60-second summary
Financial companies are joining forces to launch a US dollar stablecoin, backed by Visa and Mastercard, along with numerous crypto companies. This new project could potentially challenge Tether's USDT and Circle's USDC, the current largest stablecoins by market capitalization, with a combined value of over $140 billion, impacting the crypto market's stability and trust.
The project, supported by Visa, Mastercard and many crypto companies, could be in a position to challenge Tether’s USDT and Circle’s USDC, currently the two largest stablecoins by market capitalization.