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Reading: Climbing Interest Rates Fuel Stablecoin War as Binance Moves on Rivals
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The Wall Street Publication > Blog > Tech > Climbing Interest Rates Fuel Stablecoin War as Binance Moves on Rivals
Tech

Climbing Interest Rates Fuel Stablecoin War as Binance Moves on Rivals

Editorial Board Published September 17, 2022
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Climbing Interest Rates Fuel Stablecoin War as Binance Moves on Rivals
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The battle for the stablecoin market is heating up as interest rates continue to rise and the largest players jostle for market share. 

Binance, the world’s largest crypto exchange, said it would automatically convert users’ deposits of several rival stablecoins into its own stablecoin, Binance USD, starting this month. Analysts say Binance’s decision could escalate the rivalries among the largest stablecoin players, such as Tether and Circle, and generate additional revenue for Binance as the market cap of its stablecoin grows. 

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