Topic · Gokhshtein Media
Stablecoins
Tether, USDC, and the digital dollars carrying most of crypto’s volume — and Washington’s new rules for them
30 stories · Updated 11h agoStablecoins are where crypto meets the real financial system: dollar tokens that settle trades, move money across borders in seconds, and hold reserves large enough to matter to the Treasury market. This hub tracks the issuers, the reserves, the legislation now governing them, and the banks, fintechs, and payment networks racing to issue their own.
Coverage led by The On-Chain Desk
The basics · reviewed September 25, 2026
- What is a stablecoin?
- A digital token designed to hold a fixed value, almost always one U.S. dollar, backed by reserves such as cash and short-term Treasuries held by the issuer. Holders can redeem tokens for dollars, and the tokens move on public blockchains like any other crypto asset.
- How do stablecoin issuers make money?
- Primarily from interest earned on the reserves backing the tokens. Because most reserves sit in Treasury bills, issuer revenue rises and falls with short-term interest rates, and large issuers have become significant buyers of U.S. government debt.
- What do stablecoin laws typically require?
- Licensing of issuers, reserves held one-to-one in high-quality liquid assets, regular disclosure or audit of those reserves, redemption rights for holders, and anti-money-laundering compliance. The rules decide whether banks, fintechs, and crypto companies compete on equal terms to issue digital dollars.
Terms to know
Digital Assets
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U.S. businesses can now send OUSD and USDC directly to crypto wallets globally, completing cross-border payouts in minutes instead of days.
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Circle Q3 Revenue Hits $865M on USDC Volume Surge, ARC Presale Nets $182M
Circle's Q3 Revenue Jumps 17% as USDC On-Chain Volume Hits $13.9 Trillion
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