Circle and Ant Group collaboration reflects the growing momentum for stablecoins driven by regulatory clarity and increasing institutional adoption

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As crypto adoption has grown, many companies have slowly made their way into the space, including financial and technology heavyweights.

the decision follows recent momentum around stablecoins after the U.S. Senate passed a bill in June to regulate dollar-backed digital tokens.

Stablecoins are gaining more acceptance after the US Senate passed legislation in June setting up rules for cryptocurrencies pegged to the dollar.