They could have bought Circle outright if they wanted but now that it is public and massively overvalued it makes more sense to cannibalize their business. 


grayruby

Why won't the banks create their own stablecoins?

Risky and outside of core business. They don't have the expertise. It's cheaper and easier to control liabilities when you just take a stake in Circle stock and contract them to do it for ya.

Stacker_Stocks

Circle is wildly overvalued

> Why won't the banks create their own stablecoins?

Risky and outside of core business. They don't have the expertise. It's cheaper and easier to control liabilities when you just take a stake in Circle stock and contract them to do it for ya.