The stablecoin landscape is dominated by two players: Tether and Circle’s USDC. But issuance is moving toward becoming a standardized, low-margin infrastructure service. At the simplest level, issuing a well-collateralized stablecoin includes a standard process of:
- Custody of reserves
- Transparent accounting
- Mint & burn functions
- Legal/ compliance wrappers
- Merchant/ banking integrations for on and off-ramping
These are functions that can and have been streamlined and automated to operate at scale. We’ve s
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