Stablecoins are cryptocurrencies whose value is pegged to a real-world asset, such as the U.S. dollar or gold. USDC, issued by Circle, is the second-largest dollar-backed token, trailing only Tether's USDT in size.
Headquartered in Singapore, Crypto.com won approval as a provider of Digital Payment Token (DPT) services in the city state in June 2023, allowing it to provide crypto payments to clients.