Crypto Prediction Market Polymarket Weighs Launching Its Own Stablecoin: Source

Description

Polymarket, the cryptocurrency-powered prediction market that recently attained a billion dollar valuation , is deciding whether to introduce its own customized stablecoin, or accept a revenue sharing deal with Circle based on the amount of USDC held on the platform, according to a person familiar with the plans. Polymarket’s motivation to create its own stablecoin is simply to own the yield-generating reserves that back the large amount of Circle’s USDC dollar-pegged token used to make bets on ...