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Morning Edition · Monday, November 9, 2026Published at 12:43 AM EST · New York
Stablecoin supply barely grows in 2026 even as on-chain payment volume climbs
Circle reported a 49% rise in USDC on-chain volume to $13.9 trillion in the third quarter, while its reserve income fell 8% as yields dropped.
Stablecoin supply has barely grown this year, even as payments made with the tokens have risen sharply, CoinDesk wrote, citing Circle's latest earnings as an example of the gap between the dollars outstanding and the activity on blockchain…
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Race to Bank and Distribute Stablecoin Reserves
Over 3-6 months, established financial and payments firms compete to custody stablecoin reserves and embed stablecoin rails into cross-border settlement, institutionalizing the plumbing beneath stablecoins.
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