I think Circle designed USD Coin (USDC) for CeFi and DeFi. Notably, Circle claims to issue USDC through regulated financial institutions. Similarly, Circle offers DeFi investors access to Circle Business Bank Accounts that tokenize US dollars. The Circle Business Bank Accounts enables users to move digital dollars in and out of DeFi protocols.
If Decrypt’s claims are true, the US Treasury is attempting to undermine Maduro’s government. To explain, hyperinflation makes Venezulea’s currency the bolivar worthless, leaving many Venezuelans; including healthcare workers, with no money to buy food.
“Due to this increased demand, Huobi Wallet positioned itself as one of the first wallets to support all major stablecoins,” said Huobi Wallet CEO Will Huang.
Given these numbers, Stronghold USD could become a popular stablecoin if IBM and Stronghold and IBM build such a network. However, the available data shows Mr. Market doubts Stronghold’s claims.