Polymarket is considering launching its own stablecoin to achieve reserve autonomy and potential revenue growth.

The crypto prediction market Polymarket is evaluating the possibility of launching its own stablecoin, aiming to achieve autonomous control over its internal asset reserves and to capture potential profits related to stablecoins.

Currently, Polymarket is considering two options: one is to launch its own internal stablecoin, and the other is to reach a revenue-sharing agreement with Circle. Although no final decision has been made yet, this also shows the company's intention to increase revenue and control.

This move also reflects a new trend in the commercialization of stablecoins. Through this initiative, Polymarket, as a closed ecosystem, only requires stablecoin exchanges within the platform, without the need to handle fiat currency deposits and withdrawals. Users can directly exchange USDC/USDT for the platform's stablecoin, thereby maintaining platform liquidity and retaining reserve earnings.

In addition, the recent stablecoin legislation passed in the United States (such as the GENIUS Act) provides a clearer regulatory framework for stablecoin issuance, making this business model more attractive to crypto companies and traditional financial institutions.

At the same time, according to Circle, the company has been reaching revenue-sharing agreements with several exchanges and fintech companies to maintain its competitive edge and solidify the market position of USDC.

Polymarket's stablecoin plan is being implemented in sync with its business expansion. According to SimilarWeb, Polymarket's latest valuation has exceeded $1 billion, and the platform processed $8 billion in bets during the 2024 U.S. presidential election period, with May visits reaching as high as 15.9 million.

In addition, after resolving the legal issues related to access for US users, the company is expanding its business in the US by acquiring QCEX.

If Polymarket ultimately launches its own stablecoin, it will join the ranks of institutions like JPMorgan and Bank of America, further promoting the application of stablecoins in vertically integrated business models.

In summary, Polymarket's series of measures may change the revenue model of prediction markets and have a profound impact on the entire stablecoin ecosystem.

#Polymarket # stablecoin #cryptocurrency