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Stablecoins and Payments: Issuance, Rails and Regulation

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← Stablecoins and Payments: Issuance, Rails and Regulation

1Module 1: Stablecoin Models and Reserves0/6

What is a stablecoin?8m
Fiat-backed stablecoins: USDC, USDT, GBPT
Crypto-backed stablecoins: DAI, sUSD
Synthetic stablecoins and algorithmic models
Reserve models and attestation
Quiz: Stablecoin models
Module quiz

2Module 2: Issuance, Redemption and Custody0/6

Issuance flows: minting and collateral
Redemption and burn mechanics
Custody and multi-sig wallets
Worked example: Issuing 1M USDC
Hands-on: Design an issuance flow
Quiz: Issuance and custody
Module quiz

3Module 3: Payment Rails and Settlement0/7

On-chain settlement: speed and cost
Traditional payment rails: ACH, wire, card networks
Cross-border settlement and CBDC
Stablecoin payment APIs: Circle, Stripe, Thirdweb
Worked example: Building a merchant checkout
Hands-on: Integrate a stablecoin API
Quiz: Payment rails
Module quiz

4Module 4: Regulation and Compliance0/6

The GENIUS Act: reserve requirements and reporting
MiCA: EU stablecoin regulation
Regulatory risk: licensing, AML/KYC
Compliance roadmap for a stablecoin issuer
Hands-on: Audit a stablecoin for regulatory risk
Quiz: Regulation
Module quiz

5Module 5: Risk Analysis and Depeg Case Studies0/7

Depeg mechanics and contagion
Case study: USDC depeg (March 2023)
Case study: UST collapse and Luna (May 2022)
Case study: DAI and Ethereum volatility
Risk framework: liquidity, collateral, governance
Capstone project: Depeg analysis and mitigation
Certificate of completion
Module quiz

Module 1: Stablecoin Models and Reserves·Lesson 2 of 32·12 min

Fiat-backed stablecoins: USDC, USDT, GBPT

This lesson is for enrolled learners

The concept Fiat-backed stablecoins are the dominant model by market capitalization: a regulated (or semi-regulated) issuer holds cash and cash-equivalent reserves roughly equal to the number of tokens in circulation, and promises to redeem tokens for fiat at par. The word "roughly" matters — "backed 1:1" is a marketing phrase, and your job in this lesson is to learn to……

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