Polymarket, the prediction platform fed by Crypto, plans to launch a personalized stablecoin to capture the yield from reserve assets.
This decision would move away from the dependence on the Circle USDC platform and give direct polymarket control over the collateral user of interest.
Polymarket to enter the American Stablescoin market?
According to several reports, the company still decides to publish its own stablecoin or to accept a income sharing agreement with Circle. No final decision was made.
The motivation would be financial. Polymarket holds a large volume of USDC, but currently, Circle collects the performance of these support reserves.
By issuing its own pointed token in dollars, polymarket could monetize this internal flow.
The amount of the USDC on the platform fluctuates with market activity. During the United States electoral cycle in 2024, more than $ 8 billion in Paris were placed.
The news follows Polymarket’s efforts to reintegrate the American market thanks to the acquisition of Crypto Exchange QCEX. This occurs after the DoJ abandoned its investigation into the company linked to unlimited access by American users.
Meanwhile, Polymarket’s potential movement reflects a broader trend.
While the genius law became the law last week, several American banks – including JPMorgan and Bank of America – began to explore or develop their own token dollars.
These stables emitted by banks aim to compete with the USDC of Circle and the USDT of Tether in consumer and institutional contexts.
By launching a Stablecoin native platform, Polymarket could join a growing list of financial and financial players seeking to vertically integrate the emission emission, reserve management and the economy of the platform.
However, the regulatory risk remains high. Any new broadcast would probably require compliance with American Stablecoin regulations and potential surveillance as part of the Genius Act Framework.
For the moment, Polymarket is still exploring its options. But the decision could have major implications for the prediction market income model – and for the broader Stablecoin ecosystem.
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