Polymarket, the prediction market with cryptocurrencies that recently reached an assessment of one billion dollars, is deciding whether to introduce its own personalized stablecoin or accept a income distribution agreement with the circle depending on the amount of USDC that remains on the platform, according to a person familiar with the plans.
Polymarket’s motivation to create your own stable is simply to possess the reserves of yield that support the large amount of the dollar circle in dollars used to make bets on the popular betting platform, the person said.
A Polymeket representative said that a decision on Stablecoin’s question has not yet been made.
The legislation on stablcoins approved in the USA. Uu. Last week it makes the issuance of a stablecoin a commercial proposal for native cryptography companies and the most traditional financial players who may be looking at the success of the giants and circle of stable giants.
That said, the launch of a stablecoin is a complex elevator for many companies, and it is known that the USDC emitters circle is reducing income exchange agreements with exchanges, payment companies and other Fintechs to stay competitive in space in rapid evolution.
For Polymket, issuing your own stable is a much easier elevator from a regulatory point of view, according to the source.
“Polymarket is blocking a lot of stable value in its betting groups, so they want some type of mechanism to obtain performance,” said the person. “In the case of Polymket, it is a closed ecosystem and all they really need to do is be able to exchange USDC or USDT in whatever their personalized stable. They do not have to worry about the last mile on the ramp and the ramp.
Circle spokesmen did not immediately return a request for comments.
The amount of USDC in Polymarket fluctuates with betting activity on the platform, but about $ 8 billion were performed during the US electoral cycle. UU. Last year, and the website attracted about 15.9 million visits in May, according to the like.
The company is seeking to formally re -enter the United States with the acquisition of QCEX based in the USA.
