student from 01.01.2024 to 01.01.2026
Federal State Budgetary Educational Institution of Higher Education "Financial University under the Government of the Russian Federation" Vladikavkaz Branch (Department of Financial Markets and Financial Engineering, Master's Student)
student from 01.01.2024 to 01.01.2026
Moscow, Moscow, Russian Federation
VAK Russia 5.2.3
VAK Russia 5.2.4
VAK Russia 5.2.5
VAK Russia 5.2.6
VAK Russia 5.2.7
This paper provides a brief overview of the current state of the stablecoin market, its major players, and future prospects. It then describes in detail and analyzes the business model of a stablecoin issuer, using Circle as an example. The author concludes that stablecoins as a phenomenon and their issuers are directly linked to traditional markets and are becoming increasingly widespread, and that their emergence is having a significant impact on the development of the financial system.
stablecoins, tokenization, cryptocurrencies, digital assets, fintech
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