# Сопутствующие статьи по теме Stablecoins

CLARITY Act edges closer – But ONE disagreement is holding everything up

The CLARITY Act, a key piece of U.S. crypto market structure legislation, is advancing but remains stalled due to a major disagreement over interest-bearing stablecoins. While the crypto industry supports such products, traditional banks oppose them, fearing capital flight from deposits. Despite this impasse, political pressure is mounting, notably from President Donald Trump, who publicly demanded the bill's swift passage to maintain U.S. financial leadership and prevent innovation from moving abroad. The crypto community expresses growing confidence in the bill's eventual success, with Polymarket bettors assigning a 62% probability of it passing in 2026. The legislation aims to provide regulatory clarity and unlock institutional investment, but disagreements continue to delay progress.

ambcrypto03/18 14:38

The On-Chain 'Yu'ebao' Moment: The Liquidity Migration Behind the Surge of Yield-Bearing Stablecoins

Chain's "Yu'ebao Moment": The Rise of Yield-Bearing Stablecoins and the Great Liquidity Migration A fundamental shift is occurring in the stablecoin market. Moving beyond their traditional role as on-chain dollar settlement tools, a new class of yield-bearing stablecoins is experiencing explosive growth. According to CoinFound research, the total market capitalization of yield-bearing stablecoins has grown to approximately $22.7 billion as of mid-March 2026, up from around $11 billion just six months prior. This represents a rise from 4.5% to 7.4% of the overall stablecoin market. This surge is not merely a chase for higher yields but a deeper migration driven by a quest for superior **capital efficiency, control over funds, and on-chain capital management logic**. Unlike static deposits on centralized exchanges (CEXs), yield-bearing stablecoins encapsulate the right to earn yield directly into the token itself. This allows the asset to remain dynamic—it can be used simultaneously as collateral in lending protocols, margin for derivatives, or embedded into complex DeFi strategies without sacrificing its income-generating property. The primary drivers of this movement are not retail users but sophisticated on-chain capital, including professional DeFi players and institutional entities like DAO treasuries and protocol reserves. They value the compound utility of an asset that offers yield, liquidity, and composability. The report identifies three primary models generating this yield: 1. **RWA Mapping:** Backed by real-world assets like U.S. Treasury bills, offering compliant, traditional yield. 2. **Delta-Neutral/Synthetic Dollars:** A crypto-native path using derivatives hedging to generate yield from funding rates and staking rewards (e.g., Ethena's USDe). 3. **Native Staking Derivatives:** Yield sourced directly from Proof-of-Stake network rewards. The market is structurally dividing, with traditional stablecoins (USDT, USDC) consolidating as the payment layer, while yield-bearing instruments evolve into the on-chain wealth storage and capital management layer. This shift is also being accelerated by emerging regulations that restrict payment stablecoins from distributing interest, effectively challenging issuers' monopoly on reserve yields and redistributing a portion of those profits back to token holders. This represents an on-chain "Yu'ebao Moment," signaling that future competition will center on capital efficiency, wealth storage, and composability.

marsbit03/18 14:07

SEC and CFTC Jointly "Approve": A New Era of Regulation from "How to Regulate" to "What to Regulate"

比推03/18 12:11

Robinhood Founder Vlad Tenev on the Great Wealth Transfer, Tokenization, and Gen Z's Investment Future

In a Bankless interview, Robinhood CEO Vlad Tenev discusses the future of finance, driven by generational wealth transfer, tokenization, and Gen Z's investing behavior. He reveals that Gen Z are serious long-term investors, starting retirement planning as early as age 19 on average. Tenev addresses the $70-90 trillion "Great Wealth Transfer," emphasizing Robinhood's strategy to serve both younger generations and older asset owners through products like banking services and trust accounts. He predicts 24/7 markets and asset tokenization will become standard, with Robinhood already offering tokenized stocks in the EU. Robinhood is building a hybrid CeFi/DeFi infrastructure, including its own Layer 2 chain, to improve accessibility and utility for real-world assets. Tenev dismisses the notion that young investors are solely driven by "financial entertainment," highlighting data showing 40% of platform assets are in passive investments. Other key points include: the social value of prediction markets as "truth machines," plans for a Robinhood Social feature, the potential of AI-powered financial agents, and efforts to democratize access to private equity investments. He also discusses regulatory challenges and the strategic focus on global expansion if U.S. clarity remains limited.

marsbit03/18 11:02

WEEX Labs: The Lobster Craze, What Can Agentic Economy Bring to Web3?

WEEX Labs: The Rise of OpenClaw and What Agentic Economy Brings to Web3 NVIDIA CEO Jensen Huang recently praised OpenClaw as the "largest, most popular, and most successful open-source project in human history." This AI agent, developed by a former Apple engineer, gained 320,000 GitHub stars in just three months, surpassing Linux and React. Its logo resembles a lobster claw, hence the nickname "Lobster" in Chinese communities. Unlike traditional AI chatbots like ChatGPT or Claude, which primarily respond to queries, OpenClaw represents a shift towards autonomous execution. It can take over operating systems, autonomously use browsers, code executors, APIs, and iMessage, planning and performing tasks until completion. Its official skill marketplace, ClawHub, already offers over 27,000 skills, expanding its capabilities. This development signals the beginning of the Agentic Economy, where AI evolves from conversational tools to proactive doers. Web3 is identified as the ideal ecosystem for this growth due to its native compatibility with autonomous, code-driven interactions. Key integrations include: - The x402 protocol enabling autonomous payments and model switching. - ERC-8004 providing portable reputation and identity. - ClawPay, ClawCredit, and ClawRouter facilitating private payments, native credit, and routing. - Stablecoins like USDT and USDC serving as 24/7 banking for agents. Notable projects leveraging this synergy include KITE (a PoAI L1 blockchain for agents), Pieverse (enabling gasless on-chain transactions via messaging apps), and GoPlus Security’s SafuSkill (a security-focused skills marketplace). Meme tokens like "Lobster" have also emerged, capitalizing on the trend. The article concludes that OpenClaw’s rise marks a new phase—Agentic Era—where AI agents can perform 24/7 transactions, collaboration, and entrepreneurship, driving new DeFi narratives and on-chain activity.

marsbit03/18 10:34

US SEC and CFTC Jointly "Unbind": Crypto Assets Are "Digital Commodities" Not "Securities"

The U.S. SEC and CFTC have jointly issued new interpretive guidance clarifying that most crypto assets are not securities. Instead, they are classified as digital commodities, digital collectibles, digital tools, or stablecoins—provided stablecoin issuers do not pay interest. Only tokenized assets that represent traditional financial instruments are considered securities. Key classifications include: - Digital commodities (e.g., Bitcoin, Ethereum) are non-securities whose value derives from utility and market dynamics. - Digital collectibles (e.g., NFTs, meme coins) are for collection or use. - Digital tools (e.g., membership tokens, credentials) serve functional purposes. - Stablecoins are non-securities if they do not pay yields. The guidance also states that DeFi mining, staking, wrapped assets, and airdrops generally do not constitute securities offerings—unless airdrops require active effort (creating an investment contract risk). Notably, a token initially sold as a security can later be reclassified as a non-security if it becomes decentralized or gains utility. This clarity is expected to benefit crypto IPOs (e.g., exchanges like OKX and Kraken), DeFi protocols, and prediction markets like Polymarket by reducing regulatory uncertainty and attracting institutional liquidity. However, increased regulatory alignment may reduce innovation in gray areas and raise compliance costs. Overall, the move signals tighter integration with mainstream finance, potentially ensuring the industry’s broader adoption and stability.

Odaily星球日报03/18 10:18

McKinsey x Artemis Joint Report: Only 1% of Stablecoin's $35 Trillion Transaction Volume is Real Payments, C-Side Usage Negligible

McKinsey and Artemis's joint report reveals that out of $35 trillion in annual stablecoin transaction volume, only about 1% ($390 billion) represents genuine payments. The majority (58%) of these real payments are B2B transactions—such as cross-border settlements and corporate treasury operations—which grew 733% year-over-year. Consumer usage, including retail payments and card spending, remains negligible. The report identifies five structural reasons for this institutional dominance: 1) Greater financial efficiency incentives for businesses; 2) Programmable payments suit B2B workflows, not consumer use cases; 3) Regulatory frameworks favor institutional adoption; 4) Closed-loop B2B systems avoid network effects needed for retail; 5) Corporations prioritize internal benefits over expanding to retail networks. While B2B stablecoin adoption continues accelerating, consumer usage faces significant friction and may remain secondary. The analysis suggests stablecoins may evolve primarily as an institutional settlement layer rather than a mainstream retail payment tool.

marsbit03/18 10:10

Mastercard Snags BVNK After Failed $2 Billion Coinbase Deal

Mastercard has acquired stablecoin infrastructure firm BVNK for up to $1.8 billion, including $300 million in contingent payments. This follows BVNK’s earlier failed $2 billion merger talks with Coinbase. The acquisition aims to expand Mastercard’s capabilities in digital assets and on-chain payments, integrating fiat rails with blockchain-based transactions. BVNK operates in over 130 countries and previously partnered with Visa to enable stablecoin payments. The deal, pending regulatory approval, is expected to close by year-end. Meanwhile, the stablecoin market has seen slowed growth recently but remains resilient despite broader crypto market volatility. Bitcoin is trading around $74,700, up 7% over the past week.

bitcoinist03/18 10:02

Stablecoin Ecosystem Map: From Trading Tool to Global Financial Infrastructure

Stablecoins are rapidly evolving from mere trading tools into critical global financial infrastructure, with a total market cap exceeding $310 billion and annual transaction volume reaching $33 trillion in 2026. This growth is driven by three key factors: clearer global regulations, increasing institutional capital (with $7.9 billion in cumulative funding and 44% YoY VC growth), and rising demand for borderless settlement amid geopolitical complexities. The market is dominated by USDT (58% share) and USDC, but competition is shifting toward capital efficiency, yield generation, and compliance. Major application areas include cross-border payments, DeFi lending, institutional settlement, and RWA tokenization. Regulatory frameworks like MiCA in the EU and emerging U.S. federal rules are shaping the industry’s evolution, emphasizing transparency, asset backing, and compliance. Despite risks such as smart contract vulnerabilities and regulatory challenges, the ecosystem demonstrates resilience. Stablecoins now form a full-stack infrastructure, spanning reserve assets, issuance, multi-chain liquidity, and end-use cases in payments, social platforms, and AI-driven transactions. The future lies in their role as a default settlement layer for the global digital economy.

marsbit03/18 00:10

Breaking! A Historic Turning Point in U.S. Crypto Regulation: A Guide to the New Framework (Essential Edition)

The U.S. SEC and CFTC jointly released a landmark 68-page regulatory framework on March 17, 2026, marking a historic shift in crypto regulation. The framework classifies crypto assets into five categories: Digital Commodities (e.g., BTC, ETH), Digital Securities, Regulated Payment Stablecoins, Digital Tools, and Digital Collectibles. A key innovation is the "Separation" mechanism, allowing assets to transition from securities to commodities once they become decentralized and no longer rely on managerial efforts. The guidance also clarifies that activities like mining, staking, wrapping, and airdrops (without consideration) are generally not securities transactions. This clarity aims to reduce compliance costs, encourage innovation, and solidify U.S. leadership in crypto regulation, ending the "Wild West" era of digital assets.

比推03/18 00:08