TechFlow reports that on May 26, The Wall Street Journal published an article stating that stablecoins—cryptocurrencies designed to maintain a fixed value pegged to the U.S. dollar—are reemerging in the public eye as “private money,” potentially posing risks to the economic system. The article notes that private money existed in the United States during the 19th century and that stablecoins are now viewed as a resurgence of this phenomenon. It cites USDC, a stablecoin issued by Circle and pegged to the U.S. dollar, as one of the representative cases of current stablecoin development.
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