Elara Launches elUSD, a Dollar-Referenced Treasury Asset for Idle Stablecoins
There is more idle capital sitting onchain than most people realize. The total stablecoin float sits above $300 billion and has grown roughly 14% year over year, yet billions of those dollars are parked in wallets earning nothing, or worse, rotated into memecoin plays and short-term gambles that erase the one thing those dollars were supposed to offer in the first place, which is safety.
At the same time, the conversation around stablecoins is shifting fast at the institutional level. FASB is weighing whether stablecoins should count as a cash equivalent on corporate balance sheets, with a comment period running to 19 November. The GENIUS Act has put an actual regulatory framework around dollar-backed tokens in the US. Stablecoins are being treated as financial instruments now, not just trading chips.
That raises an obvious question. If stablecoins are graduating into real finance, why is so much of that capital...
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