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The prediction market platform Polymarket said it will migrate from its bridged USDC.e collateral to a new Collateral Token, PolymarketUSD, which will be backed 1:1 by USDC. PolymarketUSD is not positioned as an independent stablecoin like RLUSD or USDT, and it is intended for internal use within Polymarket.
Polymarket will automatically convert USDC to PolymarketUSD on the platform. Users are expected to approve the conversion once, after which the process is designed to work seamlessly.
For power users and API-only traders, the platform indicated they may need to wrap USDC or USDC.e into PolymarketUSD, including potentially through a manual conversion step for those using trading bots, API integrations, and programmatic trading.
Polymarket said the upgrade is intended to eliminate bridge risks and support faster execution and better liquidity. By using its own wrapped collateral token, the platform expects to improve internal accounting and collateral control.
The company also cited infrastructure improvements, lower gas fees, and greater flexibility for future upgrades, arguing that owning the collateral token can make the platform more efficient and more attractive for institutional trading.
The launch of a Polymarket-specific stablecoin could indicate a broader strategic move as the platform continues to expand. The article notes that institutional traders often operate through smart contract wallets, which could align with preparations for algorithmic trading or larger liquidity providers.
A crypto user, Tx_Hash, urged Polymarket to keep the wrap/unwrap process seamless and affordable, warning that anything not cost-effective could drive away the platform’s most active users.
PolymarketUSD could slightly reduce reliance on major stablecoins such as RLUSD and USDT.

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