TechFlow news, July 23 — According to CoinDesk, citing sources, the crypto prediction market platform Polymarket is considering whether to launch its own custom stablecoin or accept a revenue-sharing agreement with Circle based on the platform's USDC holdings. Creating its own stablecoin would allow Polymarket to control the yield-generating reserve assets backing the large amount of USDC on its platform. A representative for Polymarket stated that no decision has been made yet regarding the stablecoin. Sources indicated that, from a regulatory standpoint, issuing its own stablecoin would be easier for Polymarket. The person said that since Polymarket locks in substantial stablecoin value and wants to capture yield from it, and given its closed ecosystem—where users simply exchange USDC or USDT for the custom stablecoin—it does not need to worry about deposit or withdrawal channels, making the system simpler, more secure, and easier to control. Circle did not respond to requests for comment.
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