What are the requirements for a stablecoin to be FDIC insured like USDC?

1 answers

• Dec 27, 2021 · 3 years ago
  When it comes to FDIC insurance for stablecoins, there are several requirements that need to be met. First and foremost, the stablecoin must be issued by a financial institution that is insured by the FDIC. This ensures that the stablecoin is backed by a regulated entity and provides a level of trust and security. Additionally, the stablecoin must have a transparent and auditable reserve system, where the assets backing the stablecoin can be easily verified. This allows users to have confidence that the stablecoin is fully backed and can be redeemed for its underlying assets. Lastly, the stablecoin issuer must comply with all relevant regulations and have proper licensing in place. By meeting these requirements, a stablecoin can be considered for FDIC insurance, similar to USDC.
  789395