NPR.

This is the indicator from Planet Money.

I'm Patty Hirsch.

And I'm Waylon Wong.

In an unusual show of bipartisanship, the House Financial Services Committee this month

passed the stable coin transparency and accountability for a better ledger account. unusual show of bipartisanship. The House Financial Services Committee this month passed

the Stable Coin Transparency and Accountability for a Better Ledger Economy, or Stable Act. A similar

bill also cleared a Senate Banking Committee in March. The legislation now goes up for debate,

and quite a debate it's likely to be, given the announcement in March by a White House-connected

company called World Liberty Financial, that it plans to launch a stable coin called USD1.

The news has attracted the attention of lawmakers concerned about a conflict of interest for President Trump.

A company affiliated with Trump and his family members own about a 60% stake in the business.

And Trump has been very chatty about championing the mainstream use of crypto in the U.S.

But what exactly is this stablecoin thing?

On today's show, we'll explain how stable coins work and how they make money and for whom.

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