The stablecoin industry has experienced rapid growth in recent years, with many companies launching their own tokens or investing heavily in existing ones.
Mastercard's $1.8 billion acquisition of BVNK is one such example, highlighting the increasing importance of stablecoins in the fintech space.
A new startup, The Better Money Company, has raised $10 million to launch a stablecoin clearinghouse, aiming to simplify transactions between different dollar-backed tokens.