Polymarket, a cryptocurrency-focused platform, is discussing the possibility of launching its own stablecoin to manage USDC reserves.
Plans for Stablecoin Issuance
According to sources, Polymarket is considering two scenarios: either generating revenue from reserves by issuing a new stablecoin, or entering into a revenue-sharing deal with Circle based on the amount of USDC held on the platform.
Control of Reserve Revenues
A Polymarket representative noted that the platform wants to control revenues from USDC reserves, which is widely used in betting pools. Currently, no final decision has been made on the stablecoin issuance.
Regulatory and Technical Aspects
According to the source, from a regulatory perspective, Polymarket's situation is relatively straightforward: the platform locks up a significant amount of stablecoins in prediction pools and seeks a way to generate returns from these reserves. The structure allowing conversion of USDC or USDT into proprietary stablecoins is considered technically simple and secure.
With recent changes in stablecoin regulation in the US, interest in this area is increasing, attracting both cryptocurrency and traditional financial companies.
