Tether Co-Founder: Stablecoins Entering 2.0 Era, Future Should Allow Users to Share Reserve Earnings

06/20 19:10

Reeve Collins, co-founder of Tether, stated that the stablecoin industry is entering a '2.0 era.' He noted that the current stablecoin infrastructure still has structural issues, and the next generation of solutions needs to address the problem of users not being able to earn returns on reserve assets. The core logic of the stablecoin 1.0 model is 'users provide 1 dollar, and the issuer issues 1 token,' but users only gain convenience in payments and transfers without sharing in reserve earnings. In the future, financial services will gradually become infrastructure, where 'users will not care which bank sends the funds,' and AI agents may choose different financial ecosystems based on user interests. The next phase of competition in stablecoins will revolve around financial infrastructure and profit distribution models. Regarding regulatory issues, Reeve Collins revealed that he still holds Bitcoin for the long term, while also pointing out that USD stablecoins essentially remain an extension of the U.S. financial system, which carries regulatory reach risks and differs from central bank digital currency (CBDC) models, the latter of which may offer stronger programmability and financial monitoring capabilities.
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