In today’s briefing:
- Updates on Centralized Stablecoins: Reserve Assets, Transparency, and Regulatory Recognition
Updates on Centralized Stablecoins: Reserve Assets, Transparency, and Regulatory Recognition
- Benefiting from safer reserve assets and lower regulatory risk, Circle’s USDC is quickly eating into Tether’s USDT market share in recent months
- USDT is highly used in the crypto on-off-ramp and as a quote currency in trading pairs, while a large share of USDC is locked into Defi protocols
- BUSD is in its own niche to serve Binance’s ecosystem. The recent move of Binance to only keep BUSD & USDT in its exchange will have a profound impact
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