NOTES — STABLECOINS
Stablecoins
Sub-cent, sub-second, 24/7 dollars — crypto's clearest product-market fit and the dry-powder gauge for the whole market. The desk reads stablecoins as both plumbing and signal.
Circle is now a bank — what the OCC charter really buys
A federally chartered USDC issuer: margin unlock and a real moat for $CRCL — and a supervisor hard-wired into the dollar DeFi settles in.
Why stablecoins are crypto's killer app
Sub-cent, sub-second, 24/7 global settlement, and a dry-powder gauge for the whole market — crypto's clearest product-market fit.