Stablecoins This Week: Building the Market’s Visa and Mastercard Layer

The stablecoin market, in an evolution that belies its own prefix, is entering a period of flux.

While the stablecoin market’s first phase rewarded issuance and liquidity, this week’s headlines suggest the bigger competition is moving somewhere else. Twenty-one major financial institutions are moving forward with plans for a jointly backed stablecoin venture.

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