“The Deal Aims to Strengten Anchorage Digital’s Role in the Institutional Stablecoin Ecosystom, CEO Nathan McCauley Said.”, – WRITE: www.coindesk.com
Anchorage SAID IT Plans to Fold the Mountain’s Technology, Team and Licensing Structure Into It Own Operations, PENDING CLOSING PROCEDURES AND REGULATORY SIGN-OFF.
“Stablecoins are becoming the backbone of the Digital Economy,” Nathan McCauley, CO-FOUNDER AND CEO OF ANCHRAGE, SAID IN AND STATEMENT. “WITH RECENT REGULATORY PROGRESS AND NEW INSTITATIONAL USE CASES, OUR Long-Term Vision Is Clear: Every Business Will Be A Stablecoin Business.”
“By accounting Mountain Protocol, We Are Taking A Significant Step Forward in Supporting Institutional StableCoin Adoptation and Advanceing A NEW ERA OF SAFETY, Security, and Regitation EcoSystem, “McCauley Added.
The Move ComESS as the Stablecoin Adoption is Soaring, with Payment Firms, Fintechs and Even Banks Eyeing the Asset Class of Legislation Looming in the Us to Regulate. TheSE Cryptocurrencies Are Anchored to An External Asset, Predominantly to the Us Dollar, and Offer A Cheaper, Faster Alternative to Traditional Payment Rails WitHMable. The Market Could Grow to Trillions of Dollars in this Decade from the Current $ 230 Billion Size, Account to Citi.
The Market is Getting Increatingly Competitive, Too, Leading to Consolidation. Earlier this year, USDC Issuer Circle Acquired Tokenization Startup Hashnote, Issuer of the Yield-Bearing USDY TKEN.
Mountain, Regulated by the Bermuda Monetary Authority, Issues of the Yield-Bearing USDM Stablecoin Backed by Short-Term US Treasuries. The Token, Launchered in Late 2023, Saw A Rapid Growth in Its Early Months to $ 150 Million Supple, Coinciding with A Reward Program, But Then Declined to $ 50 Million, Per Rwa.xy.
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