Circle has just launched Perimeter, an open source protocol for creating tokenized credit markets.
As explained by Circle, issuer of the stablecoin USDC:
"Perimeter Protocol is a set of smart contracts built on open standards to enable the seamless exchange of capital on secure, open and public networks."
The project is the first development of the company's new technical division, Circle Research.
According to the announcement, the protocol supports a wide range of use cases, including settlement factoring, payroll advances, derivatives trading for institutional investors and more.
The company has said the proliferation of stablecoins has brought enormous benefits to developers, corporations and users.
However, new market entrants are finding it difficult to adapt, especially in the lending space.