# Сопутствующие статьи по теме Stablecoins

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

Aave Founder Reveals: Why is Lending the Core of Financial Empowerment?

Chain-based lending, which began as an experimental concept around 2017, has grown into a market exceeding $100 billion, primarily driven by stablecoin borrowing secured by crypto-native collateral like Ethereum and Bitcoin. This system enables liquidity release, leveraged strategies, and yield arbitrage. Its success validates the real demand and product-market fit of automated, smart contract-based lending even before institutional adoption. A key advantage of on-chain lending is its significantly lower cost—around 5% for stablecoin loans compared to 7–12% in centralized crypto lending—due to the elimination of financial inefficiencies, intermediaries, and layered fees. This cost reduction stems from open capital aggregation, transparency, composability, and automation, which foster competition and real-time pricing. Innovations like Ethena’s USDe or Pendle integrate seamlessly, expanding the ecosystem without traditional overhead. The evolution follows a pattern seen in major disruptions: serving niche users first, competing on price before quality, and scaling rapidly. While current on-chain lending often recycles existing collateral for similar strategies, future growth depends on incorporating real-world economic value and tokenized assets, not just replicating traditional finance. Traditional lending remains expensive due to inefficiencies in origination, risk assessment, and servicing, misaligned incentives, and regulatory constraints. On-chain lending disrupts this by replacing processes with automation, discretion with transparency, and reconciliation with determinism. When fully software-native, it will offer a cheaper, faster backend for global borrowers, empowering broader access to capital and fostering new opportunities.

比推02/10 07:24

Aave Founder Reveals: Why is Lending the Core of Financial Empowerment?

比推02/10 07:24

Aave Founder: What is the Secret of the DeFi Lending Market?

Chain-based lending, which began as an experimental concept around 2017, has evolved into a market exceeding $100 billion, primarily driven by stablecoin borrowing backed by crypto-native collateral like Ethereum and Bitcoin. This system enables liquidity release, leveraged strategies, and yield arbitrage. The key advantage of on-chain lending lies not in technological novelty but in its elimination of financial inefficiencies, offering lower costs (around 5% for stablecoins) compared to centralized crypto lenders (7-12%) due to open capital aggregation, transparency, and automation. On-chain lending is structurally due to permissionless markets that excel in capital pooling and risk pricing, fostering competition and innovation without intermediaries. This model reduces operational costs, replacing manual processes with code, and benefits both capital providers and borrowers. However, the current limitation is not a lack of capital but a shortage of diverse, borrowable collateral. The future of on-chain lending depends on integrating real-world economic value with crypto-native assets, moving beyond abstract financial strategies to serve broader adoption. Traditional lending remains expensive due to inefficiencies in loan origination, risk assessment, and servicing, where misaligned incentives and manual processes inflate costs. Decentralized finance can disrupt this by automating end-to-end operations, ensuring transparency, and reducing expenses. When on-chain lending becomes significantly cheaper and more efficient than traditional systems, widespread adoption will follow, empowering borrowers with faster, more accessible capital. Aave exemplifies this shift, positioning itself as a foundational layer for a new financial backend.

marsbit02/10 02:17

Aave Founder: What is the Secret of the DeFi Lending Market?

marsbit02/10 02:17

When On-Chain Lending Systems Converge

Credit is the time machine of the economy, enabling businesses to bring future cash flows into today's decisions. The global credit gap for SMEs in emerging markets is estimated at $5.7 trillion. Recent developments in on-chain lending, such as Kraken's DeFi Earn and Bitwise's vault strategies on Morpho, signal a maturation beyond the speculative cycles of 2022. The ecosystem now integrates vaults for self-custody and transparency, automated risk management by firms like Chaos Labs, and AI-driven optimization engines. Total value locked in lending protocols has grown 150% in two years, with active loans exceeding $40 billion—double the 2022 peak. This evolution reduces operational inefficiencies, lowers credit costs via stablecoins and smart contracts, and enhances accessibility, potentially helping bridge the global credit gap. However, risks like liquidity constraints and curator discretion remain.

marsbit02/10 01:35

marsbit02/10 01:35

Is finance crypto’s first chapter or its final form? VCs weigh in…

The article explores whether finance represents crypto's foundational use case or its ultimate application, featuring perspectives from venture capitalists. Chris Dixon of a16z Crypto argues that non-financial applications are still emerging, with finance developing first due to infrastructure needs. Haseeb Qureshi of Dragonfly counters that consumer crypto failed due to weak demand and poor products, not regulation, asserting finance is crypto's only proven product-market fit. Capital flows in 2025 support this, with venture funding exceeding $20 billion, heavily focused on DeFi and infrastructure. TVL recovered to ~$99 billion, and stablecoin supply surpassed $307 billion, demonstrating finance's dominance. Revenue data further reinforces this: top DeFi protocols like PancakeSwap and Aave generated significant fees, while non-financial sectors like gaming struggled with thin revenue and low user monetization. The conclusion is that finance remains crypto's primary value layer, with strong capital and payment flows, whereas utility sectors face challenges in converting engagement into sustainable revenue.

ambcrypto02/10 01:02

Is finance crypto’s first chapter or its final form? VCs weigh in…

ambcrypto02/10 01:02

Vitalik Buterin’s Call for ‘Sovereign’ Stablecoins Meets Its Match in Bitcoin Hyper’s SVM Infrastructure

Ethereum co-founder Vitalik Buterin has criticized DeFi's reliance on centralized stablecoins like USDC and Tether, advocating instead for algorithmic, governance-minimized alternatives. He argues that current models create a single point of failure, and that the future of on-chain stability depends on high-throughput infrastructure capable of handling real-time mechanisms. Bitcoin Hyper ($HYPER) is positioned as a key solution, integrating Solana Virtual Machine (SVM) speed with Bitcoin's security in a Layer 2 architecture. This aims to solve scalability issues, enabling high-frequency DeFi applications and algorithmic stablecoins with low-cost, rapid execution. The project has raised over $31M in its presale, attracting significant whale interest, indicating strong market demand for Bitcoin-based high-performance infrastructure.

bitcoinist02/09 17:34

Vitalik Buterin’s Call for ‘Sovereign’ Stablecoins Meets Its Match in Bitcoin Hyper’s SVM Infrastructure

bitcoinist02/09 17:34

Cobo 2025 Stablecoin Review and Outlook: From Crypto Narrative to Real Adoption

Cobo's 2025 Stablecoin Review and Outlook: From Crypto Narrative to Real Adoption Looking back from 2026, 2025 marked a pivotal "declaration of independence" for stablecoins, defined not by price volatility but by their quiet transformation into a fundamental global settlement medium operating natively on the internet. True adoption occurred not in retail payments but in high-frequency, efficiency-critical backend processes: corporate treasury management, cross-border settlements, and internal fund transfers. This real-world usage is driven not by crypto-enthusiasts but by risk-averse CFOs and financial teams prioritizing auditability, control, and traceability over decentralization. The report argues that real adoption is measured by stablecoins entering sustainable economic loops like payroll, B2B settlements, and recurring payments, not by market cap or transaction volume. A key finding is the stark geographic divergence in use cases: an efficiency tool in developed markets versus a survival mechanism against hyperinflation in emerging economies. Competitively, dollar-based stablecoins (like USDT and USDC) have become a digital extension of dollar hegemony, forcing non-US stablecoins into niche roles. The future battleground is shifting from issuance to compliant access points and connection rights. Key 2026 trends include: - **Financial Fragmentation:** The stablecoin market will split into compliant "clearing islands" and offshore "grey islands." - **Rise of the Machine Economy:** AI Agents (non-human accounts) will necessitate a shift from KYC to KYA (Know Your Agent). - **The Invisible Infrastructure:** The most successful stablecoins will be those that are transparent and unseen, embedded within applications. - **Apps as Banks:** Applications will evolve to perform bank-like functions (holding deposits, facilitating payments) without a bank license, competing on capital efficiency and turnover. - **Seamless Daily Use:** Integration with major payment networks (Visa/Mastercard) will enable direct spending of stablecoins without manual off-ramping, making them a true digital dollar for daily expenses. - **Advanced Compliance:** On-chain AML data will merge with off-chain identity, leading to standardized, professionalized compliance infrastructure offered as a service. The core conclusion is that stablecoin's greatest success lies in its invisibility, becoming the indispensable TCP/IP of finance—powering everything from behind the scenes.

marsbit02/09 10:56

Cobo 2025 Stablecoin Review and Outlook: From Crypto Narrative to Real Adoption

marsbit02/09 10:56

Crossing Boundaries, Embracing Integration for Renewal｜Agenda for the February 12 Crypto Finance Forum Released

A major Crypto Finance Forum, co-hosted by WLFI, Bakkt, HKU Business School's Executive Education, and ME Group, will be held at the University of Hong Kong on February 12, 2026. Under the vision of "Decoding Crypto, Reshaping the Future of Finance," the event aims to serve as a top-tier dialogue hub connecting East and West, academia and business, and traditional finance with the crypto industry. The forum will bring together global regulators, traditional finance executives, founders of crypto-native companies, and leading academics to explore institutional opportunities and new technological paradigms within regulatory frameworks. Key topics include stablecoin ecosystems, the institutional path forward for bridging traditional finance and digital assets, and the next evolution of Web3 infrastructure. Featured speakers include executives from Bakkt, WLFI, the University of Hong Kong, Solana Foundation, Tencent Cloud, HashKey Group, and Nano Labs, among others. The agenda includes keynote speeches, in-depth panel discussions, and debates on critical issues such as regulated entities versus permissionless DeFi and the value wave of asset tokenization. This high-density intellectual gathering is designed to provide deep insights and forward-looking perspectives, helping participants navigate the complex, rapidly evolving landscape of crypto finance and capture macro opportunities in the new era of digital assets.

比推02/09 10:24

Crossing Boundaries, Embracing Integration for Renewal｜Agenda for the February 12 Crypto Finance Forum Released

比推02/09 10:24

An Hour with Circle's CPO: How Stablecoins Are Reshaping Global Capital Flows

In a comprehensive interview with Nikhil Tandog, Chief Product Officer of Circle, the discussion explores how stablecoins, particularly USDC, are transforming global finance by reducing friction in cross-border transactions and enhancing economic inclusion. Circle has evolved from a stablecoin issuer into a multi-layered platform comprising core assets (USDC, EURC), payment applications (Circle Payment Network), and infrastructure (ARC). The resilience of USDC post-banking crisis is attributed to its transparency, regulatory compliance (such as MiCA and the hypothetical Genius Act), and multi-chain presence across 28 blockchains. Unlike competitors, Circle emphasizes auditability and public trust, aiming for public listing to reinforce accountability. Looking ahead to 2030, Tandog envisions a future where programmable money enables efficient B2B payments (a $59T market), AI-driven agents autonomously manage transactions, and financial services integrate seamlessly with software. Circle’s ARC infrastructure will address scalability, privacy, and gas payment challenges to support mainstream adoption. The company continues to expand USDC’s reach, deepen its payment network, and develop ARC, positioning stablecoins as a foundational technology akin to electricity—universally applicable and transformative.

比推02/09 04:24

An Hour with Circle's CPO: How Stablecoins Are Reshaping Global Capital Flows

比推02/09 04:24

Interview with Circle's Chief Product Officer: Redefining Global Money Movement

Interview with Nikhil Tandog, Chief Product Officer of Circle, on redefining global money movement. Circle has evolved from a stablecoin issuer to a full-stack platform with a three-layer strategy: core assets (USDC, EURC), payments (Circle Payment Network), and infrastructure (ARC). Despite challenges like the US banking crisis, USDC rebounded due to its recognized value, compliance (MiCA, Genius Act), and transparency. Operating on 28 blockchains with CCTP, USDC is global, with holders in 190 countries. Looking to 2030, Tandog envisions a future with efficient B2B payments ($59T market), AI-agent-driven M2M transactions, and programmable money integrated into software. Circle’s ARC infrastructure addresses scalability, payment finality, configurable privacy, and gas payment in stablecoins. The company continues expanding USDC, deepening CPN, and launching ARC to unlock global productivity.

marsbit02/09 01:03

Interview with Circle's Chief Product Officer: Redefining Global Money Movement

marsbit02/09 01:03

China Steps Up Crypto Crackdown, Blocks Domestic And Overseas Issuers

China has intensified its crackdown on the cryptocurrency sector, reinforcing its ban on virtual currencies while imposing stricter oversight on offshore token issuance linked to Chinese assets. The People’s Bank of China, along with other regulators, prohibited domestic firms and their overseas affiliates from issuing cryptocurrencies abroad without approval. The move specifically targets unauthorized offshore yuan-pegged stablecoins, emphasizing that the digital yuan remains the only state-backed digital currency. While the ban on cryptocurrencies remains, the new guidelines introduce regulatory clarity for real-world asset (RWA) tokenization, signaling a milestone for the RWA sector. Authorities expressed concerns over speculative risks and reiterated that virtual currencies lack legal status equivalent to fiat money.

bitcoinist02/07 16:01

China Steps Up Crypto Crackdown, Blocks Domestic And Overseas Issuers