Major Financial Players Challenge Stablecoin Market, Nasdaq Expands Onchain Data Reach
Major Financial Players Challenge Stablecoin Market, Nasdaq Expands Onchain Data Reach
A new US dollar stablecoin project, backed by significant financial entities including Visa and Mastercard, is poised to enter the market, presenting a challenge to established stablecoins like Tether's USDT and Circle's USDC. Concurrently, Nasdaq has partnered with Pyth to integrate its proprietary market data on-chain, broadening its distribution to blockchain applications and various software platforms.
The project, supported by Visa, Mastercard and many crypto companies, could be in a position to challenge Tether’s USDT and Circle’s USDC, currently the two largest stablecoins by market capitalization.
The partnership extends distribution of Nasdaq's TotalView market data to blockchain applications and other software platforms through Pyth's marketplace.