October 2, 2022
Broadly speaking, the crypto market is feeling growing pains as it transitions into a regulated environment with several firms facing legal peril.
Binance is performing the best in terms of momentum amid these challenges. They took action recently to support only their own stablecoin BUSD and Tether (USDT) on their exchange and BUSD adoption is predictably on the way up. It is also a coin designed specifically to succeed in a new regulatory environment, so that its key target is Circle’s USDC.
I suppose you could call these the “stablecoin wars,” as there are likely to be only a few main stablecoin providers. Reserve Rights, which is launching a product to enable branded dollars for niche purposes–say for a sports team or a charity–represents a counterveiling approach in this market.
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