Stablecoins & Digital Money
Circle Q3 Revenue and Reserve Income Rise 17% to $865 Million
Circle Internet Group announced third-quarter results on November 4, 2026, with total revenue and reserve income rising 17% year over year to $865 million and net income from continuing operations increasing 5% to $226 million. The largest growth driver came…
What DeFi Lending Rates Tell Us About Market Risk
Investors usually look to bond markets, bank lending, and volatility measures for signs that money is becoming harder to obtain. Another signal may be emerging from a less familiar source: the interest rates charged by blockchain lending platforms. A new…
Can Stablecoins Reduce Exchange-Rate Volatility?
A business importing equipment can agree on a price today and discover that the bill costs more in local currency before payment arrives. Faster transfers can shorten that exposure. Easier access to digital dollars can also help businesses match their…
The Stablecoin Mint-and-Redeem Loop
A first-principles guide to Stablecoin Minting and Redemption, including its operating chain, economics, authoritative records, failure modes, and the evidence investors or operators should verify.
Wholesale CBDCs: Central Bank Money for Tokenized Markets
A first-principles guide to Wholesale CBDCs, including its operating chain, economics, authoritative records, failure modes, and the evidence investors or operators should verify.
How CBDC Interest Rates Shape Adoption and Bank Funding
Digital money promises easier payments, broader access, and more efficient financial infrastructure. But moving money into a new wallet also changes where that money sits, who can use it, and how the wider economy is financed. That is particularly important…
Stablecoin Stability Improves, but Tail Risk Remains
A stablecoin trading at one dollar appears to be doing its job. For someone moving money between exchanges, paying a supplier, or holding collateral, that familiar price offers reassurance. But a price quote cannot reveal how reliably the token can…
Proof of Reserves Is Not an Audit
A first-principles guide to Proof of Reserves, including its operating chain, economics, authoritative records, failure modes, and the evidence investors or operators should verify.
Circle Partners With SAP-Backed Tereina to Embed Stablecoin Payments in ERP
Tereina, an SAP-backed financial services company, and Circle Internet Group announced a partnership on October 7, 2026 to integrate Circle’s USDC and EURC stablecoins into Tereina’s payments infrastructure, starting with SAP Cloud ERP. The joint announcement, datelined Palo Alto, California…
Stablecoin Payments: From Wallet to Merchant Settlement
A first-principles guide to Stablecoin Merchant Payments, including its operating chain, economics, authoritative records, failure modes, and the evidence investors or operators should verify.
CBDCs May Be Changing How Companies Invest in Innovation
Central bank digital currencies are usually discussed as a payments story. The standard questions involve settlement speed, privacy, monetary policy, banking competition, and whether governments actually need a digital form of sovereign money. A new study published in the International…
How Stablecoins Hold Their Peg—and Why They Fail
A first-principles guide to Stablecoin Peg Mechanics, including its operating chain, economics, authoritative records, failure modes, and the evidence investors or operators should verify.
Stablecoins vs. Tokenized Deposits vs. CBDCs
A balance-sheet comparison of stablecoins, tokenized commercial-bank deposits, and central bank digital currency, including issuer risk, settlement, programmability, and monetary architecture.
Global Liquidity Alone Cannot Sustain a Crypto Rally
Cryptocurrency investors often reduce monetary policy to a straightforward rule: when central banks make money more plentiful, prices rise. That explanation has intuitive appeal. Lower funding costs encourage risk-taking, investors search for higher returns, and additional capital moves into assets…
Stablecoin Anatomy: Reserves, Custody, and Redemption
A balance-sheet and market-structure guide to fiat-backed stablecoins, including reserve assets, issuer liabilities, custody, minting, redemption, market makers, and depegging risk.
