Wall Street Takes the Plunge: First IPO Uses Entirely Stablecoin Settlement

A groundbreaking event unfolded on Wall Street as a U.S. company’s initial public offering (IPO) received funding entirely in stablecoins. This innovation, a departure from traditional settlement methods involving fiat currencies, utilized a basket of assets including USDC and EURC, with additional allocations handled via Ripple’s RLUSD and other trust-backed stablecoins. The transaction was predominantly processed on the Solana blockchain while Coinbase stepped in as custodian for the major asset allocations.