Circle's new technology comes from the developments in both crypto technology and regulation, bridging the cryptocurrency market and traditional finance.
The main trading medium of the current cryptocurrency is the U.S. dollar stablecoin. In fact, the original U.S. dollar stablecoin USDT was created to facilitate global users to trade cryptocurrencies.
The Diem Association has now applied to FINMA in Switzerland. Now it is just waiting for FINMA's approval, which may be approved as early as January 2021. The first stablecoin that Diem plans to issue will be a USD-based stablecoin.
The appearance of Basis Cash offers a different definition, which maintains BAC, its native token, to stay at around $1 via a flexible supply mechanism to make Basic Cash (BAC), Basis Bond (BAB), and Basis Share (BAS) pegged with both market and algorithm.