Follow the money behind the peg.
Stablecoins promise a familiar unit of account on a blockchain. Our coverage asks what backs that promise, who can redeem a token and what happens when it moves between networks. Start with issuance and redemption, then read the comparisons of reserves and access. News in this section follows issuers, distribution agreements and changes to the way digital dollars reach users.
Where to start
Browse the reporting and explainers below, or visit all explainers for the wider picture. Our sources are linked in each article. About CJSOI explains the journal’s scope and its collective SOI Editorial byline.
Essential reading
- What Happens When You Redeem a Stablecoin? — Selling a token and redeeming it with its issuer are different transactions. Here is where the dollars come from.
- USDT and USDC: Reserves, Redemption and Access — Both target the dollar. Their disclosures, issuer accounts and routes back to cash need separate checks.
- How Stablecoin Issuers Make Money — The tokens are liabilities. The reserve assets can earn income—but distribution and operations have costs.
