# Banking Related Articles

HTX News Center provides the latest articles and in-depth analysis on "Banking", covering market trends, project updates, tech developments, and regulatory policies in the crypto industry.

ARK Invest: Will Stablecoins Become the Cornerstone of the Next Generation Monetary System?

ARK Invest explores whether stablecoins could become the cornerstone of the next monetary system, drawing parallels between today’s privately issued digital currencies and the free banking era in the U.S. prior to the Federal Reserve's establishment in 1913. The article highlights the emergence of Tether (USDT) in 2014 as a solution to slow cross-border dollar transfers in crypto markets. Initially used for arbitrage, stablecoins like USDT gained traction in emerging economies during the COVID-19 pandemic as a hedge against hyperinflation and currency devaluation. By 2025, USDT’s supply reached $187 billion, backed largely by U.S. Treasuries and serving over 450 million users globally. The discussion references the GENIUS Act, which legitimizes privately issued stablecoins, and features insights from Tether CEO Paolo Ardoino, economist Arthur Laffer, and ARK CEO Cathie Wood. Laffer compares modern stablecoins to 19th-century private banknotes but notes that technological and regulatory advances mitigate past risks like fraud and instability. Looking forward, stablecoins may evolve into interest-bearing instruments or be pegged to baskets of commodities. Tether is also expanding into commodity settlement and developing new stablecoins like USAT for developed markets. The piece concludes that stablecoins could modernize financial infrastructure, combining the efficiency of blockchain with the stability of asset-backed currencies.

marsbit02/10 11:30

ARK Invest: Will Stablecoins Become the Cornerstone of the Next Generation Monetary System?

marsbit02/10 11:30

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