Empire

The Hidden Costs of USDC | Nathan McCauley & Charles Cascarilla

14 snips
Jan 27, 2025
Guest
Charles Cascarilla
Guest
Nathan McCauley
Nathan McCauley and Charles Cascarilla share their insights as executives in the digital asset and stablecoin arenas. They discuss the hidden yields in USDC, Tether's surprising strength, and the collaborative prospects of the Global Dollar Network. The conversation highlights regulatory challenges facing stablecoins, the evolving market dynamics, and bold predictions for substantial future growth and adoption. Expect a deep dive into how innovation can reshape access to currency worldwide!
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INSIGHT

Tether's Resurgence

  • Tether has seen a resurgence due to exploiting regulatory gaps and focusing on retail users, particularly in the Global South.
  • This has allowed them to capitalize on the demand for USD access, especially among the unbanked.
INSIGHT

USDC Yield Disparity

  • USDC holders, including exchanges and custodians, don't receive yield, hindering their revenue potential.
  • This contrasts with traditional finance, where holding dollars generates interest, and is a key driver behind the Global Dollar Network initiative.
INSIGHT

Regulatory Differences: USDG vs. USDC

  • Unlike USDG, which is regulated by the Monetary Authority of Singapore, USDC lacks a primary regulator and relies on money transmission licenses.
  • This regulatory difference makes USDG potentially safer as user funds are held in trust, while USDC holders are creditors of Circle.
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