The company proudly announced that it stands among the pioneering major payment institutions to directly employ the Solana network for its settlement processes.
The Centre Consortium, co-operatively overseen by Circle and Coinbase, is currently in the process of being closed down. Consequently, Circle will be taking over the internal management of issuance and governance for the USDC stablecoin.
The R stablecoin derives its value from a single crypto asset, specifically the staked ether (stETH) provided by Lido, a prominent leader in liquid staking.
The report highlights that Tether has been steadily capturing a larger share of the market cap, overshadowing its competitors such as USD Coin.
A spokesperson for Circle announced that the company's reserve fund has made a strategic shift by divesting from Treasury bills with maturity dates beyond May 31. Instead, they have opted to reallocate assets into cash and overnight repurchase agreements.
The company that makes USDC stablecoins has a venture capital arm that backed Nomad and Slope, which were both used this week.
Since Tether's introduction, stablecoins have been available on the cryptocurrency market, but until today, no stablecoins have been available on the Cardano blockchain.