Chime Financial (NASDAQ: $CHYM) is planning to add stablecoins to its consumer banking platform and app. Chime is a financial technology company based in San Francisco that provides fee-free mobile banking services to consumers. The company reportedly wants to add stablecoins to its payment options, according to media reports.
MEXC Report: 74.2% of Traditional Finance Users Have Shifted Their Trading Activity to Crypto Exchanges MEXC July TradFi Trading Shifts Toward AI Storage as SNDK Futures Volume Surges More Than 15x Times Polymarket Hires Former Uber Executive To Lead Growth Initiative Hyperliquid Turns to CFTC for Path Into U.S. Perpetual Futures Market Canadian Defense Tech Firm Jumps 92% as Government Revenue Boosts Margins To that end, Chime Financial has requested proposals from blockchain technology companies to provide end-to-end stablecoin wallet services. Stablecoins are cryptocurrencies whose value is pegged to another asset, typically the U.S. dollar.
The largest stablecoin issuers are privately held Tether, which issues the USDT (CRYPTO: $USDT) coin, and Circle Internet Group (NYSE: $CRCL), which issues the USDC (CRYPTO: $USDC) coin. Stablecoin payment volumes more than doubled last year to $390 billion U.S., according to consulting firm McKinsey & Co. and blockchain data company Artemis. Stablecoins are increasingly being used by traditional payment firms, including credit card giants Mastercard (NYSE: $MA) and Visa (NYSE: $V).
CHYM stock has risen 7% in the last 12 months to trade at $32.14 U.S. per share.
Extract — continue reading at the source.
