The Information: Circle's business may be affected by the Federal Reserve's interest rate cuts

ChainCatcher news, according to The Information, the Federal Reserve's interest rate hike may be a boon for the stablecoin issuer Circle, but a rate cut could have an impact on it. With the threat of a Federal Reserve rate cut looming, Circle is looking for ways to expand its business.

Currently, Circle's revenue mainly comes from interest income on tens of billions of dollars in cash, U.S. Treasury bonds, and other assets that back its popular USDC stablecoin. Circle CEO Jeremy Allaire stated in an interview that charging for blockchain wallet services and other crypto infrastructure sold to developers and other companies could become a more significant source of revenue.