Stablecoins & CBDC

Binance Research - The Stablecoin Business (Nov 2025)

Analyzes stablecoins as a business model, focusing on issuance economics, reserve management, distribution, and competitive dynamics. Highlights how regulation, payments use cases, and market structure shape profitability and adoption.

Topics: stablecoins, crypto, market research, payments

More in Stablecoins & CBDC

A Stablecoin Thats Actually Stable - A Portfolio Optimi — Proposes a portfolio optimization approach to design a stablecoin with stronger price stability than single-asset pegs, emphasizing reser...
FTN011 - Central Bank Exploration of Tokenized Reserves (2025) — Reviews central bank research into tokenized reserves, focusing on how reserve tokenization could support settlement efficiency, interope...
NBER - Stablecoins A Revolutionary Payment Technology with Financial Risks — Analyzes stablecoins as a potentially transformative payment technology, while emphasizing their vulnerabilities around runs, reserve qua...
Wharton - The Stablecoin Toolkit Part I — Academic primer outlining the core design choices, risks, and policy trade-offs of stablecoins, with emphasis on how reserve structures, ...