# Сопутствующие статьи по теме Infrastructure

Новостной центр HTX предлагает последние статьи и углубленный анализ по "Infrastructure", охватывающие рыночные тренды, новости проектов, развитие технологий и политику регулирования в криптоиндустрии.

Written at the End of 2025: Code, Power, and Stablecoins

"Stablecoins have firmly established themselves as the foundational infrastructure for the next decade of financial services, with the market surpassing $300 billion in 2025. This growth is driven by a fundamental shift in trust: relying on transparent, verifiable code and math rather than opaque promises from centralized intermediaries, as starkly illustrated by the Synapse bankruptcy. Self-custody models change risk dynamics, eliminating intermediary risk (though not issuer risk) and reducing the necessity for traditional insurance like FDIC. Stablecoins offer inherent global reach, with the main bottleneck being local fiat on/off-ramps rather than rebuilding entire banking stacks per country. The emergence of payment-specific blockchains like Tempo and Arc faces the challenge of building trust from scratch, competing with the established security of networks like Solana and Ethereum. The real potential of 'agentic finance' lies in automating mundane financial tasks through smart contracts with enforced permission boundaries, providing security that traditional systems cannot. However, the rapid growth attracts teams with inadequate security practices, a critical misstep for financial infrastructure. Furthermore, as real business activity moves on-chain, solving for privacy through selective disclosure—not full anonymity—becomes crucial to prevent competitive intelligence leaks. The true opportunity lies not just in rebuilding existing fintech more efficiently but in leveraging programmable money and internet-native capital markets to reimagine financial services entirely."

marsbit12/29 01:35

Written at the End of 2025: Code, Power, and Stablecoins

marsbit12/29 01:35

VC Investment Trends Shift: Public Chains and AI Cool Down; Prediction and Payment Take the Lead

Venture capital investment in the crypto sector is shifting significantly, moving away from previously dominant areas like Layer 1 and Layer 2 blockchains and AI projects. According to recent data, out of 73 projects that raised over $10 million in the past three months, almost none were new public chains. Similarly, AI × Web3 sector saw only two major raises, totaling $22.8 million. Instead, prediction markets and payment systems are now attracting substantial capital. Prediction platforms Polymarket and Kalshi alone secured over $3.15 billion, driven by Polymarket’s accurate election forecasts and growing user engagement. The payment and banking sector raised nearly $1.3 billion, with companies like Ripple Labs and Rapyd leading large rounds. Stablecoin transaction volumes now rival Visa, highlighting the sector’s expansion. Real World Assets (RWA) are also gaining traction, with over $850 million raised—led by Figure’s $787.5 million IPO. Tokenized assets on-chain now exceed $36 billion. Additionally, user-friendly infrastructure projects, such as simplified wallets and onboarding tools, are receiving significant investment to attract mainstream adoption. While DeFi remains active with around $740 million in funding, it no longer dominates VC attention. The trend indicates a clear pivot toward applications with real-world use cases and revenue potential over pure infrastructure.

Odaily星球日报12/27 13:41

VC Investment Trends Shift: Public Chains and AI Cool Down; Prediction and Payment Take the Lead

Odaily星球日报12/27 13:41

Written at the End of 2025: Code, Power, and Stablecoins

By the end of 2025, stablecoins have firmly established themselves, with a market cap surpassing $300 billion—a growth of nearly $100 billion in under a year. This growth reflects institutional confidence, with major banks projecting multi-trillion dollar valuations in the coming years. Stablecoins are no longer just a crypto narrative but a fundamental shift in monetary infrastructure, built on code and verifiable trust rather than opaque intermediaries. The failure of Synapse highlighted the risks of traditional fintech: hidden counterparty risk and unverifiable accounting. In contrast, self-custodied stablecoins eliminate intermediary risk, though issuer risk remains—mitigated by transparent reserve proofs and on-chain monitoring. Stablecoins enable global reach from day one, bypassing the need for localized banking infrastructure. The bottleneck remains fiat on/off-ramps, but modular solutions allow for gradual integration. New purpose-built blockchains like Tempo and Arc aim to optimize payments but face trust barriers compared to battle-tested networks like Ethereum and Solana. Agentic finance presents a near-term opportunity in automating mundane financial tasks, with smart contracts enabling secure, permission-bound automation. However, security remains critical: rapid growth must not compromise operational rigor. Privacy is another key challenge, as real-world business adoption requires selective disclosure—proving compliance without exposing sensitive data. The true potential of stablecoins lies beyond replicating existing fintech—it’s in unlocking programmable money, internet-native capital markets, and reimagining financial services through verifiable, autonomous systems.

比推12/26 19:38

Written at the End of 2025: Code, Power, and Stablecoins

比推12/26 19:38

How Are Stablecoins Evolving from Crypto Assets to New Payment Infrastructure?

"Stablecoins: From Crypto Assets to the Infrastructure of Next-Generation Payments" The article explores the evolution of stablecoins, tracing their journey from speculative crypto assets to foundational infrastructure for global payments. The narrative is framed through the experience of Raj Parekh, former head of Visa's cryptocurrency division and now leading payments at Monad. The pivotal moment was Facebook's 2019 Libra project, which forced traditional finance to seriously consider crypto. At Visa, Parekh's team pioneered using USDC on Ethereum for settlements, solving major inefficiencies like the slow, costly T+2 settlement cycles and the need for large pre-funded accounts. A key insight was that while the technology was powerful, the underlying infrastructure was immature. Parekh left to found Portal Finance, aiming to abstract away blockchain's complexity for developers. However, he encountered a fundamental bottleneck: the need for a high-performance, EVM-compatible chain to make payments truly viable at scale. This led to Portal's acquisition by Monad Foundation. The article highlights a major shift in stablecoin business models. Early issuers like Tether and Circle profited from the interest on reserve assets. Newer models, accelerated by legislation like the GENIUS Act, are passing this yield directly to users, creating a new financial primitive: money that earns interest even while being transacted. This infrastructure enables a new era of global fintech, allowing companies to build for a worldwide audience from day one, unlike traditional banks limited by geography. The future excites Parekh most in two areas: the convergence of AI Agents with high-frequency finance for microsecond transactions, and the fusion of investment and payment accounts into a single, abstracted user experience. The ultimate goal is a future where value moves at the speed of the internet, as seamlessly as sending an email, completely invisible to the end-user.

比推12/26 15:17

How Are Stablecoins Evolving from Crypto Assets to New Payment Infrastructure?

比推12/26 15:17

The RWA Narrative is Shifting: Why is Tokenized Gold Being Repeatedly Mentioned?

The narrative around Real World Assets (RWA) is shifting from theoretical discussions about which assets can be tokenized to a more practical focus on which tokenized assets can achieve long-term viability and scale. Tokenized gold is increasingly highlighted as one of the most promising directions in RWA development. Gold possesses inherent advantages: it is a globally recognized store of value with established custodial, auditing, and settlement systems. The primary challenge for its on-chain adoption isn't proving its legitimacy but rather improving its accessibility, lowering transaction costs, and enabling seamless cross-border movement. Tokenization addresses the low liquidity and high friction associated with physical gold, allowing it to circulate like a digital asset within crypto financial systems. This trend is further amplified by the current macro environment marked by geopolitical uncertainty and inflation, which reinforces gold's traditional role as a safe-haven asset. The conversation is moving beyond feasibility to examine practical operational requirements: physical custody, verifiable reserves, data consistency between on-chain and off-chain systems, and compliance across jurisdictions. Early infrastructure platforms, such as Matrixdock's XAUm token, which is backed by LBMA-standard physical gold, are emerging. They emphasize building robust foundational layers—including verifiable reserves and regulatory compliance—rather than merely offering a trading product. Ultimately, the next phase of RWA evolution will be a systemic test of asset selection, operational stability, and sustainability. Tokenized gold represents a clear and verifiable intersection of asset maturity, real-world demand, and on-chain utility.

marsbit12/26 09:16

The RWA Narrative is Shifting: Why is Tokenized Gold Being Repeatedly Mentioned?

marsbit12/26 09:16

Web3 Entrepreneurship in Mainland China: What Can and Cannot Be Done?

Summary: Under China's current legal and regulatory framework, Web3 entrepreneurship is possible but must avoid activities related to issuing tokens, speculative trading, fundraising, or operating exchanges. The article outlines four viable paths: 1. **Pure Technology & Infrastructure**: Developing blockchain as a distributed database or collaborative tool for enterprises and governments, focusing on data verification, supply chain coordination, and judicial record-keeping without financial incentives. 2. **De-Financialized Digital Assets**: Creating non-fungible tokens (NFTs) as digital collectibles, membership passes, or copyright certificates—emphasizing utility over investment value and avoiding secondary market trading. 3. **Compliance & Risk Management Services**: Providing legal, regulatory, and analytical support for Web3 projects, including anti-money laundering measures and chain monitoring, which are increasingly essential as regulations evolve. 4. **Overseas-Centric Operations with Domestic Support**: Structuring projects so that technical development, research, and backend services are handled in mainland China, while financial aspects (e.g., token issuance, trading) are managed by compliant entities abroad. The author stresses that success depends on treating Web3 as a tool rather than a financial instrument, avoiding public promotions of crypto investments, and ensuring clear legal boundaries to sustain long-term operations.

marsbit12/26 07:15

Web3 Entrepreneurship in Mainland China: What Can and Cannot Be Done?

marsbit12/26 07:15

Stepping into the Stablecoin Wave for Six Years, He Sees the Embryonic Form of the Future of Payments

"Six years into the stablecoin wave, Raj Parekh, former head of crypto at Visa and now leading payments at Monad, reflects on the evolution and future of digital payments. He identifies 2019 and Facebook’s Libra project as a pivotal moment that forced traditional finance to take crypto seriously. At Visa, he led efforts to integrate USDC for near-instant settlement, overcoming slow, costly legacy systems. Parekh later founded Portal Finance to build payment infrastructure, but encountered scalability limitations across blockchains. This led to Portal’s acquisition by Monad, where he now focuses on high-performance, EVM-compatible chains capable of sub-second finality—critical for global payment adoption. He sees stablecoins entering a "email moment" for money: enabling instant, low-cost global value transfer. New business models are emerging where issuers share interest earnings with users, transforming stablecoins into interest-bearing assets even during transactions. This shift, coupled with supportive regulation like the GENIUS Act, is driving broader institutional adoption. Looking ahead, Parekh is excited about AI-powered agentic payments and high-frequency finance, where autonomous agents execute microsecond-speed transactions. He envisions a future where decentralized infrastructure seamlessly integrates into everyday apps, enabling global, efficient, and programmable money movement—ushering in a new era for both finance and user experience."

marsbit12/26 05:40

Stepping into the Stablecoin Wave for Six Years, He Sees the Embryonic Form of the Future of Payments

marsbit12/26 05:40

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