Stablecoins aim to reduce those risks by pegging their value to a less volatile financial asset, most commonly the U.S. dollar.

Poised to enact its first major legislation regulating cryptocurrency, the United States is pushing digital money into the mainstream.

"The arrival of the Trump legislation signaled an about-turn in attitudes towards the crypto industry, but legislators are still exercising some caution," said Derren Nathan, head of equity research,...