The Information: Stablecoin Issuer Circle's Business May Be Impacted by Fed Rate Cuts
A Fed rate hike may be a boon for stablecoin issuer Circle, but a rate cut could hurt it, according to The Information.With the threat of a Fed rate cut looming and the timing of a planned initial public offering yet to be determined, Circle is looking for ways to expand its business.Circle's revenues come largely from tens of billions of dollars in cash, according to The Information.Circle's chief executive officer, Jeremy Allaire, said in an interview that he was looking for ways to expand its business, U.S. Treasuries and other interest income on the assets backing its popular USDC stablecoin, Circle Chief Executive Jeremy Allaire said in an interview, adding that a fee-based business that sells blockchain wallet services and other crypto infrastructure to developers and other companies could become a more important source of revenue.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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