Our thesis

Stablecoins are becoming the backbone of global finance. As settlement rails modernize, everything from FX trades to card payments and bank transfers will increasingly move through digital dollars. With a $232B market cap and 63% year-over-year growth, stablecoin adoption is just getting started. There are trillions to come. Our strategy is to earn yield by providing concentrated liquidity and market-making services that power this shift.

Stablecoins don't produce returns on their own because they're pegged to underlying currencies. Providing liquidity for stablecoin pairs, however, generates yield through trading fees while avoiding impairment risk. This offers a reliable, capital-efficient way to invest in the rise of digital dollars.