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Chuk
👨🏿💻 Product Builder & Investor | Ex-Paxos
📝 Author: Stablecoin Blueprint
🎙️ Co-host: Money Code @thestablecon
📰 Editor: The Weekly Stable @twifintech
Everything is a bank
Nov 20, 22:09
Virtual bank accounts are here! Set up recurring transfers to World App with a paycheck and seamlessly convert USD to @USDC. Or schedule a one-time transfer with as little as $1 and no fees.
1.67K
This.
The lack of transparency in "tokenized RWA" today is baffling
It's almost antithetical to the promises of blockchain
Higher yield isn't free, it comes commensurate risk and pricing that risk is not a straightforward endeavor
We need more transparency at better risk mgmt in this space
Otherwise we'll get a repeat of the Great Financial Crisis with CLO, CDOs and the like... just onchain
9 hours ago
Conversation from Buenos Aires:
“We are building a vault that has 11% fixed. It’s backed by mortgages”
Me: “oh, what kind of mortgages are they?”
“They are underwritten by an Australian company ______ (never heard of them)”
Me: “oh, what kind of mortgages are they? Prime? Subprime?”
“We are tech people, we don’t know the legal stuff”
Me: “oh this isn’t legal, this is finance”
“Yeah, you would have to talk to the lawyers”
5.63K
xReserve seems like circle's partial response to the commodification of issuance
It's as if Bridged-USDC standard and CCTP had a baby
New blockchain teams can now bootstrap a *branded* stablecoin on their chain that leverages not only USDC liquidity across most chains, but is interoperable with other xReserve tokens that will emerge over time
However it'd have been MUCH cooler if they could renegotiate their deal with Coinbase in order to pass along a big chunk of the yield. Then they're playing in the issuance-as-a-service game.
Otherwise I think the newer multi-issuers (Bridge, Agora, MoonPay etc) will still provide a more compelling offering *if* they integrate the new chain
Nov 18, 22:38
Introducing Circle xReserve, a new interoperability infrastructure for blockchain teams to launch USDC-backed stablecoins.
Built to expand the USDC ecosystem, xReserve enables developers and users to transfer value seamlessly between USDC and USDC-backed stablecoins across supported chains.
→ Trusted and transparent: xReserve is a Circle-deployed smart contract that holds USDC to back stablecoins on participating blockchains.
→ Fully interoperable: 1:1 transfers between USDC-backed stablecoins and USDC for unified liquidity.
→ Trust minimized: Crosschain transfers are verified by xReserve attestation, reducing reliance on third-party bridges.
→ Future extensibility: Designed to support additional assets beyond USDC, including EURC.
Circle is excited to partner with @CantonNetwork and @Stacks, two leading blockchains integrating with xReserve in the coming weeks.
Learn more:
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