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Stablecoin Giants Diverge on Reserves as Emerging Markets Drive Real Volume
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Stablecoin Giants Diverge on Reserves as Emerging Markets Drive Real Volume
Stablecoin issuance now tops $300 billion. Yet the companies behind the two dominant tokens take sharply different paths to backing their coins. One publishes clean monthly reports from a Big Four firm and keeps holdings in cash and short-term Treasuries. The other mixes in gold, bitcoin, loans and other assets while facing persistent questions about full audits. The mismatch matters. Transaction volumes exploded past $28 trillion in 2025, accor…
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