TechFlow reports on August 2, citing The Information, that rising interest rates by the Federal Reserve have benefited stablecoin issuer Circle, while lower rates could pose challenges. As the threat of rate cuts intensifies, Circle is actively seeking new business expansion opportunities.
Currently, Circle's revenue primarily comes from interest earned on billions of dollars in cash, U.S. Treasury securities, and other assets backing the USDC stablecoin. CEO Jeremy Allaire said fee-based services providing blockchain wallet solutions and crypto infrastructure to developers and other companies could become a significant new revenue stream.
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