Climbing Interest Rates Fuel Stablecoin War as Binance Makes Move on Rivals

The battle for the stablecoin market is heating up as rates of interest proceed to rise and the biggest gamers jostle for market share. 

Binance, the world’s largest crypto change, mentioned it could routinely convert customers’ deposits of a number of rival stablecoins into its personal stablecoin, Binance USD, beginning this month. Analysts say Binance’s determination may escalate the rivalries among the many largest stablecoin gamers, reminiscent of Tether and Circle, and generate further income for Binance because the market cap of its stablecoin grows.