Odaily Planet Daily News According to The Information, the Fed's rate hike may be a boon to stablecoin issuer Circle, but a rate cut may have an impact on it. With the imminent threat of a Fed rate cut and the timing of the planned initial public offering yet to be determined, Circle is looking for ways to expand its business. Circle's revenue mainly comes from interest income from tens of billions of dollars in cash, U.S. Treasuries and other assets that support its popular USDC stablecoin. Circle CEO Jeremy Allaire said in an interview that the fee-based business of selling blockchain wallet services and other encrypted infrastructure to developers and other companies may become a more important source of income.