Polymarket, a renowned platform for crypto predictions, is deliberating on launching its own stablecoin to enhance financial performance and adapt to current market conditions.
Polymarket’s Ambition: Taking Control of Value
Polymarket aims to take a more active role in the crypto prediction market by leveraging stablecoins. Current transactions are conducted in USDC, enriching Circle’s revenue. Launching its own stablecoin could strengthen Polymarket's financial positioning.
Choice Between Partnership and In-House Stablecoin
Polymarket is weighing two strategic options: a revenue-sharing agreement with Circle or issuing its own stablecoin. Past practices of Circle cast doubt on successful negotiations, making the creation of an in-house stablecoin an increasingly attractive option.
Rapid Growth Demands Bold Choices
With a total transaction volume exceeding $14 billion, Polymarket shows significant growth. With the acquisition of the CFTC-regulated exchange QCEX, the platform aims to solidify its presence in the American market. Controlling its financial infrastructure is becoming a crucial task for successful future development.
Launching its own stablecoin could be a strategic move for Polymarket, enhancing financial performance and adapting to changes in the crypto prediction market.
