dailyloe.com – Polymarket is launching a full exchange upgrade and a new native stablecoin to streamline its operations. The $20 billion prediction market platform announced the overhaul as it prepares for a major U.S. expansion. This move aims to bring trading and dispute resolution more firmly in-house.
The upgrade includes a rebuilt trading engine and updated smart contracts. A key component is the new Polymarket USD collateral token. This token will be backed 1:1 by the USDC stablecoin.
Polymarket USD will replace the currently used USDC.e token. USDC.e is a bridged version of Circle’s USDC that originates on Ethereum. It relies on bridge infrastructure which can introduce added risk and friction.
The shift is meant to reduce bridge-related risk for users. It will also give the platform tighter control over settlement and liquidity. The company announced these plans in a post on the social media platform X.
Polymarket is rebuilding its U.S. presence after registering with the CFTC. Its valuation has surpassed $20 billion. The infrastructure changes are part of this strategic growth phase.
A still-unlaunched POLY token is expected to play a future role in governance. The platform upgrade is scheduled to roll out in the coming weeks. This represents a significant step in Polymarket’s development as a leading prediction market.[]
Source: CoinDesk
