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Can Circle's IPO Sprint to a $5 Billion Valuation Rewrite the Stablecoin Race Track?
On March 31, 2025, the cryptocurrency industry welcomed a significant piece of news. According to Fortune magazine's report, the issuer of the US dollar stablecoin USDC, Circle, is actively pushing forward with its IPO plan. Circle has now engaged JPMorgan Chase and Citigroup as underwriters and is expected to formally submit its public offering filing by the end of April, with a targeted valuation between $4 billion and $5 billion. This has drawn market attention to the recent hot stablecoin race.
Circle IPO Resurfaces
Interestingly, this is not Circle's first IPO plan. Back in 2018, Circle had already shown interest in the public market. At that time, Circle, through the acquisition of the cryptocurrency exchange Poloniex and the launch of USDC, quickly gained prominence. In the same year, Circle announced a $110 million funding round led by Bitmain, with IDG Capital, Breyer Capital, and other existing shareholders participating, valuing the company at $3 billion. This funding round may have signaled Circle's path to a future IPO, but the harsh bear market in the cryptocurrency space and a 75% valuation drop for Circle in early 2019 delayed the IPO plan.
What truly brought Circle close to the public market was the 2021 SPAC (Special Purpose Acquisition Company) craze. In July 2021, Circle announced a merger with the SPAC Concord Acquisition Corp. However, Circle soon faced regulatory challenges. The U.S. SEC increased scrutiny on SPAC transactions, demanding stricter financial disclosures and compliance measures. In December 2022, the Circle and Concord transaction fell through as it failed to receive SEC approval, and the company publicly stated it "terminated the SPAC plan." Over the next three years, Circle focused on enhancing USDC's compliance and market penetration, such as partnering with Visa to expand payment scenarios and applying for regulatory licenses worldwide.
Related Reading: "Retrospect on Circle: Fundraising with Bitcoin's Story and Listing with a Stablecoin's Story"
To understand Circle's IPO plan, one must mention its partner Coinbase's successful experience. On April 14, 2021, Coinbase went public on NASDAQ, becoming the first major cryptocurrency exchange to do so in the U.S. The opening price surged from $250 to $328.28, reaching an intraday high of $429, and the market cap soared to $64.5 billion. Coinbase CEO Brian Armstrong has expressed his hope for USDC to become the "world's largest stablecoin." If Circle's IPO succeeds, it will not only inject funds and resources into this goal but also potentially further solidify the strategic alliance between the two companies.
The relationship between Coinbase and Circle is more than just a regular partnership. In 2018, the two companies jointly launched USDC. As Circle's core product, the issuance and management of USDC rely heavily on Coinbase's support, and Coinbase also vigorously promotes USDC through its platform. By 2025, the market capitalization of USDC has exceeded 60 billion US dollars, making it the second largest stablecoin after Tether (USDT). Coinbase not only supports Circle in technology and marketing but also holds a portion of Circle's equity. This close collaboration has added more excitement to Circle's IPO.
Related Read: "A Conversation with Circle's Founder: Reflections on Circle's Turbulent Decade"
Circle vs. Tether: Fierce Rivals in the Stablecoin Race
In the stablecoin market, Circle's USDC and Tether's USDT see each other as top competitors. With a market capitalization of around 140 billion US dollars, USDT holds the throne, while USDC closely follows with 60 billion US dollars. Although there is still a gap between the two in market share, Circle is gradually narrowing the distance with Tether through its compliance and transparency.
Since its launch in 2014, Tether has become the dominant force in the stablecoin market due to its first-mover advantage and wide range of use cases. However, Tether's rise has not been without controversy. The transparency of its reserve assets has always been a focus of concern for regulatory agencies and investors. Although Tether claims that its USDT is fully backed 1:1 by the US dollar or other equivalent assets, the lack of multiple audit reports and doubts about its reserves have led to criticism.
In contrast, Circle is a leader in compliance. Each USDC token is backed by audited US dollar reserves, and Circle regularly publishes proof reports from top accounting firms. This transparency has not only earned favor from traditional financial institutions but also made it a "model student" in the eyes of regulators. For example, Circle has obtained money transmission licenses in multiple states in the United States and chose France as its headquarters in Europe to expand its global presence. In 2024, Circle also received regulatory approval in Japan to launch USDC, further expanding its international influence.
Related Read: "WSJ: The Life and Death Struggle of Tether and Circle"
The profit logic of stablecoins is not complicated. Taking Tether as an example, when users exchange dollars for USDT, Tether invests these funds in low-risk assets such as U.S. Treasury bonds and money market funds, earning interest differentials while maintaining the 1:1 peg with the dollar. During the high-interest rate cycle from 2022 to 2024, the U.S. Treasury bond yield exceeded 5% at one point, bringing substantial returns to Tether. Additionally, Tether further increases its revenue by charging withdrawal fees and sharing profits with partners. Tether achieved a full-year profit of up to $13 billion in 2024, a figure that even surpassed the annual revenue of BlackRock, the world's largest asset management company. This business model has almost no costs but can generate continuous cash flow, making it a "money printer of the digital age."
Circle's USDC follows a similar profit model, but due to its smaller market size, its revenue naturally lags behind Tether. However, Circle's transparency and compliance have won it more institutional customers. For example, Visa and Mastercard have integrated USDC into their payment networks, and BlackRock also indirectly supports USDC applications through its BUIDL fund. If Circle's IPO can successfully raise billions of dollars, it may accelerate its expansion in the institutional market and narrow the revenue gap with Tether.
Stablecoin Legislation Fuels the Fire
Circle's decision to push for an IPO this year is inseparable from the improvement in the external environment. Since Trump's election, he has publicly supported cryptocurrency development multiple times, promising to make the U.S. a "global crypto center" and emphasizing the dominance of the dollar in the digital economy. As a vital carrier of the digitization of the dollar, stablecoins naturally became a policy focus.
As of April 1, 2025, the U.S. legislative process regarding stablecoins has accelerated, with the "GENIUS Act" and "STABLE Act" drawing significant attention. The "GENIUS Act," proposed in 2024, requires stablecoin issuers to have 100% of their reserve assets backed by cash or cash equivalents and subject to regular audits. It was voted through the Senate Banking Committee on March 13 this year with 18 votes in favor and 6 against, and is set to proceed to the full Senate for a vote, with Bo Hines, Executive Director of the Presidential Digital Assets Advisory Committee, expecting to submit it for Trump's signature by June at the earliest. Meanwhile, the "STABLE Act" is steadily progressing in the House of Representatives, with plans for markup revisions on April 2. Currently, both chambers are coordinating the details of the bill, with explicit support from the Trump administration, pledging swift enactment into law once passed. This development provides policy advantages for compliance-focused stablecoin companies like Circle and signifies a clearer regulatory framework for the digital dollar in the U.S.
Further Reading: "Why Did $900 Billion Evaporate from the Crypto Market While Stablecoin Market Cap Hit a New High?"
In addition, the EU's "Markets in Crypto-Assets" (MiCA) regulation is set to be fully implemented in 2024, imposing greater transparency and capital requirements on stablecoin issuers. Circle has taken the lead by establishing its European headquarters in France, demonstrating its commitment to global compliance. Countries like Japan and the UK are also accelerating the development of stablecoin regulatory policies, providing clearer guidance for industry growth.
The enactment of stablecoin legislation may have a profound impact on the market landscape. For Circle, the success of its IPO could not only provide funding support but also drive greater adoption of USDC in regulated markets. In contrast, Tether faces increased regulatory pressure, requiring adjustments to its reserve structure, possibly including the sale of some non-cash assets. It is foreseeable that with a clearer regulatory environment and institutional funds entering the scene, the stablecoin market may undergo a reshuffle, with Circle's IPO potentially serving as a significant catalyst in this process.
Rise in Cryptocurrency IPO Activity
Against the backdrop of increasingly clear stablecoin regulations, Circle's IPO plan may just be a microcosm of traditional capital entering the crypto market. The policy tailwind has not only paved the way for stablecoin issuers like Circle but also opened the door to Wall Street for more crypto companies. Bitwise predicted at the end of last year that five companies (including Circle) could go public by 2025:
· Circle: Issuer of the second-largest stablecoin, USDC.
· Figure: Known for blockchain-based financial services such as mortgage and personal loans, and asset tokenization, the company has been exploring going public since last year.
· Kraken: The US-based cryptocurrency exchange has had IPO plans dating back to 2021.
· Anchorage Digital: Its status as a federally chartered bank may pave the way for its listing.
· Chainalysis: A leader in blockchain compliance and intelligence services, poised for listing.
Moreover, Hadick from Dragonfly stated: "I expect the LP (Limited Partner) market to get better, and they will want to put more capital into crypto. Many traditional Web2 crossover funds will return to Web3. We are already seeing this trend in some areas, such as stablecoins and payments." He added that venture capital transactions often lag behind public market price increases by a quarter or two.
Related Read: "Forbes: Cryptocurrency Will Be Redefined by 2025"
Circle's IPO may also become a milestone for the stablecoin industry's development. With the gradual clarification of the global regulatory environment, stablecoins are entering a golden age of compliance and institutionalization. Can Circle take advantage of this opportunity to further challenge Tether's dominant position? The answer will be revealed in the market performance after the IPO.
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Never Underestimate the Significance of the US Stablecoin 'Infrastructure Bill'
If the US stablecoin bill, the "GENIUS Act," passes smoothly this time, its significance will be tremendous. I even think it's significant enough to enter the top five in Crypto history.
Although abbreviated as the GENIUS Act, which translates directly to the Genius Act, it is actually the Guiding and Establishing National Innovation for U.S. Stablecoins, which translates to "Guiding and Establishing National Innovation for US Dollar Stablecoins."
The proposal is lengthy, with several key points summarized for everyone:
· Mandatory 1:1 Full Asset Backing: Assets include cash, demand deposits, and short-term US Treasuries. At the same time, misappropriation and rehypothecation are strictly prohibited.
· High-Frequency Disclosure: Reserve reports must be published at least monthly, introducing external audits.
· Licensing Requirement: Once the circulating market cap of the issuer's stablecoin exceeds $100 billion, it must transition into the federal regulatory system within a specified timeframe, adopting banking-grade regulation.
· Introduction of Custody: The custodian of the stablecoin and its reserve assets must be a regulated qualified financial institution.
· Clear Definition as a Payment Medium: The bill explicitly defines stablecoin as a new type of payment medium, primarily regulated by the banking regulatory system, rather than restricted by the securities or commodities regulatory system.
· Embracing Existing Stablecoins: A maximum 18-month grace period after the bill's enactment, aimed at encouraging existing stablecoin issuers (such as USDT, USDC, etc.) to promptly obtain licenses or become compliant.
After finishing the main content, let's talk about the significance of this matter with an excited heart.
Over the years, when others asked, "After working in the Crypto industry for 16 years, what application have you created?"
In the future, you can confidently tell others—Stablecoins.
Some people have held opposing views. In the past, people's impression of stablecoins was that they were an opaque black box. Every few months, there would be FUD — whether Tether's assets were frozen or Circle had a significant black hole deficit.
In fact, if you think about it, Tether easily rakes in billions of dollars a year just from the interest on those underlying government bonds. Circle, slightly less, also made a $1.7 billion profit last year.
They basically made money while standing there. From a motivational standpoint, they have no malicious intentions. In fact, they are the most eager for compliance.
Now, this opaque black box will become a transparent white box.
In the past, the only complaint was that Tether's funds might have been frozen by the United States. Now, they will be directly placed into U.S. compliant custodial institutions, with high-frequency disclosures, so you can rest assured.
【No need to worry about a rug pull】 is such a huge advantage—I think especially all Crypto people understand this.
Stablecoins were once almost on the verge of being overtaken by CBDCs. In any country, if a central bank digital currency really exists, it is highly likely not built on a blockchain, at most it is built on some internal central bank consortium chain, which to be honest, is meaningless.
When CBDCs were at their peak, that was the most dangerous time for stablecoins.
If CBDCs had become a reality back then, stablecoins today would have been relentlessly suppressed into a dark corner, and blockchain would only be able to play a minimal role.
The remaining half-dead stablecoins would even have to learn the standards of central bank digital currencies, completely relinquishing their standard-setting power.
And now, stablecoins have won (or are about to).
Instead, everyone should learn the 【Blockchain + Token】 standard.
Nowadays, many blockchains actually have no meaningful applications on top, only stablecoin transfers. For example, with Aptos, the only scenario I use Aptos for is transfers between Binance and OKX.
And now, stablecoins will be legislated, what does that mean?
That's right, blockchain will become the only standard.
In the future, every stablecoin user will be the first to learn how to use a wallet.
As an aside, I actually think Ethereum's concerted push for EIP-7702 is quite forward-thinking. While other chains are all about memes, thank you Ethereum for sticking to account abstraction.
EIP-7702 is about Account Abstraction, which can support, for example:
· Social Account Registration Wallet
· Paying GAS with Native Coin
· And more
This paves the way for future new users to heavily use stablecoins, solving the last-mile problem.
Furthermore, once stablecoins receive legislative support, deposits and withdrawals will become even easier.
Let's imagine a scenario: previously, hindered by the gray nature of stablecoins, but after the bill passes, many traditional brokerages can support stablecoins themselves. The money from a US stock investor can be converted into stablecoins in minutes and instantly deposited into Coinbase. Believe it or not.
Let's imagine another scenario: if the brilliant bill smoothly passes through the House of Representatives, next, you will see:
Due to the extremely lucrative nature of this trading, existing stablecoin leaders and newly entering traditional giants will crazily start promoting their stablecoin products.
And an outsider, due to these promotions, will start using stablecoins. And then one day, after finding out that the wallet account has been created, will explore Bitcoin inside. Is mining Bitcoin difficult?
Stablecoins are a huge Trojan horse. The moment you start using stablecoins, you unwittingly step half a foot into the Crypto world.
As a large reservoir for digesting US debt, although stablecoins cannot directly absorb debt, they at least provide ammunition for the US debt secondary market. These functions are quite important, and slowly, stablecoins are becoming a part of the US debt market's body. Therefore, once the US legislation is passed and experiences the benefits, there is no turning back.
And, we are also confident that stablecoins are indeed one of the great innovations in our industry. People who have used stablecoins will find it hard to return to the traditional cash-banking system.
Once the bill is passed, users can't go back. In the future, concerns are about to be resolved, standards will be mastered, and the era of large deposits seems to be on the horizon.
Original Article Link
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HTX Research Latest Research Report丨Sonic: A Case Study of the New DeFi Paradigm
While the industry was still embroiled in the Layer 2 scaling debate, Sonic offered a new answer through a "foundational revolution." Recently, HTX Research released its latest research report "Sonic: A Blueprint for the DeFi New Paradigm," detailing the new public chain Sonic. While fully compatible with the EVM, Sonic has achieved a throughput of over 2000 TPS, 0.7-second transaction finality, and a transaction cost of 0.0001 USD, outperforming mainstream Layer 1 solutions and even surpassing most Layer 2 solutions. The performance-boosting Sonic is reshaping public chain infrastructure, officially ushering in the "sub-second era" of public chains.
As a high-performance public chain based on a Directed Acyclic Graph (aDAG), Fantom Opera initially stood out for its high throughput and fast confirmation capabilities. However, as the on-chain ecosystem expanded, the limitations of its traditional EVM architecture became increasingly apparent: state storage expansion, slow node synchronization, and constrained execution efficiency. To address this, Fantom introduced the new upgrade solution Sonic, aimed at achieving performance leaps through fundamental reconstruction without relying on sharding or Layer 2.
Led by the restructured Sonic Labs, Sonic's core development team brought together top industry talents, including CEO Michael Kong, CTO Andre Cronje (founder of Yearn Finance), and Chief Research Officer Bernhard Scholz. Over a period of two and a half years, the team comprehensively optimized from the virtual machine, storage engine to the consensus mechanism, ultimately creating the standalone new chain Sonic. While being EVM-compatible, Sonic has achieved over 2000 TPS, 0.7-second finality, $0.0001 transaction cost, a 90% improvement in storage efficiency, and reduced node synchronization time from weeks to within two days.
· SonicVM: The new virtual machine dynamically compiles EVM bytecode, caches high-frequency operations (such as SHA3 hashing), and pre-analyzes jump instructions, improving execution efficiency several times over to support high-throughput demands.
· SonicDB: Using a layered storage design, it separates real-time state (LiveDB) from historical data (ArchiveDB), compressing storage space by 90%, reducing node maintenance thresholds, and enhancing decentralization.
· Sonic Gateway: A Layer 2-like cross-chain bridge to Ethereum, balancing security and efficiency through a batch processing mechanism, supporting bi-directional asset migration, and seamless integration with the Ethereum ecosystem.
Sonic introduces its native token S, exchanged 1:1 with the old token FTM, undertaking functions such as gas payment and governance staking. Its innovative mechanisms include:
· Gas Fee Monetization (FeeM): Developers can receive up to 90% of transaction fee sharing, incentivizing ecosystem app innovation; non-FeeM apps have 50% of fees burned to deter inflation.
· Point Airdrop System: Users earn points (Passive/Activity Points and Gems) through holding tokens, participating in DeFi, or ecosystem interactions, redeemable for a total of 200 million S tokens, creating a "usage is mining" positive feedback loop.
During the market downturn in 2025, Sonic's on-chain TVL grew over 500% against the trend, with stablecoin volume surpassing $260 million, driven by high-leverage yield strategies:
· Silo v2 Recurring Borrowing: Pledge S tokens to borrow stablecoins, leverage up to 20x, capturing multiple points and spread yields.
· Euler+Rings Combination: Deposit USDC to mint overcollateralized stablecoin scUSD, leverage up to 10x, while receiving Sonic points and protocol airdrops.
· Shadow DEX Liquidity Mining: Provide liquidity for mainstream trading pairs, earning up to 169% APY and receiving a share of trading fees.
The ecosystem's future plans involve introducing Real World Asset (RWA) yields and off-chain payment scenarios, expanding through compliant asset backing and consumer app integration, establishing a sustainable stablecoin utility loop.
Sonic's core DEX, FlyingTulip, designed by Andre Cronje, integrates trading, lending, and leverage functions, with key technological breakthroughs including:
· Adaptive AMM Curve: Combining Curve V2's liquidity aggregation advantage, introducing external oracle monitoring of volatility, dynamically adjusting the curve shape—close to a constant-product curve during low volatility (low slippage), and approaching a constant-product curve during high volatility (preventing liquidity depletion), reducing impermanent loss by 42%, and improving capital efficiency by 85%.
· Dynamic LTV Lending Model: Drawing inspiration from Curve's LLAMA liquidation mechanism but dynamically adjusting the loan-to-value (LTV) ratio based on market volatility. For example, the ETH collateral loan-to-value ratio can plummet from 80% during calm periods to 50% during volatile periods, reducing systemic risk.
With its triple advantage of "high performance + nested yield + low threshold," Sonic is expected to exceed $2 billion in TVL within 12 months, and its token S may impact billions of dollars in market capitalization. Its model has established a new paradigm for the industry: replacing liquidity speculation with on-chain efficiency and real returns, potentially triggering a fundamental shift in the logic of public chain competition.
Potential risks are concentrated at the technical level, including the Adaptive AMM relying on an external oracle, which could result in liquidity pool anomalies if the price feed is attacked. High-leverage strategies face liquidation risks during extreme market conditions and require hedging tools (such as perpetual contract shorts) to manage volatility.
From a macro perspective, Sonic is poised to be the dark horse in the 2025 DeFi revival wave, with the success of its stablecoin ecosystem creating broad upside potential for the ecosystem token S and overall network value. Sonic's rise validates a key proposition: even in a bear market, through mechanism innovation and performance breakthroughs, DeFi can still build a "yield fortress" to attract rational capital for long-term retention. Its nested yield model, developer incentive system, and efficient infrastructure provide the industry with a reusable template. If successfully integrated with RWAs and payment scenarios, Sonic may become a bridge connecting on-chain yield with real economic demand, propelling DeFi into a new stage of mass adoption.
To read the full report, please visit: https://square.htx.com/wp-content/uploads/2025/04/HTX-Research-Latest-Report.pdf
HTX Research is the dedicated research arm of HTX Group, responsible for in-depth analysis of a wide range of areas including cryptocurrency, blockchain technology, and emerging market trends. HTX Research produces comprehensive reports, offers professional evaluations, and is committed to providing data-driven insights and strategic foresight. It plays a key role in shaping industry perspectives and supporting informed decision-making in the digital asset space. With rigorous research methods and cutting-edge data analysis, HTX Research always remains at the forefront of innovation, driving industry thought leadership and facilitating a deep understanding of the evolving market dynamics.
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Never Underestimate the Significance of the US Stablecoin 'Infrastructure Bill'
If the US stablecoin bill, the "GENIUS Act," passes smoothly this time, its significance will be tremendous. I even think it's significant enough to enter the top five in Crypto history.
Although abbreviated as the GENIUS Act, which translates directly to the Genius Act, it is actually the Guiding and Establishing National Innovation for U.S. Stablecoins, which translates to "Guiding and Establishing National Innovation for US Dollar Stablecoins."
The proposal is lengthy, with several key points summarized for everyone:
· Mandatory 1:1 Full Asset Backing: Assets include cash, demand deposits, and short-term US Treasuries. At the same time, misappropriation and rehypothecation are strictly prohibited.
· High-Frequency Disclosure: Reserve reports must be published at least monthly, introducing external audits.
· Licensing Requirement: Once the circulating market cap of the issuer's stablecoin exceeds $100 billion, it must transition into the federal regulatory system within a specified timeframe, adopting banking-grade regulation.
· Introduction of Custody: The custodian of the stablecoin and its reserve assets must be a regulated qualified financial institution.
· Clear Definition as a Payment Medium: The bill explicitly defines stablecoin as a new type of payment medium, primarily regulated by the banking regulatory system, rather than restricted by the securities or commodities regulatory system.
· Embracing Existing Stablecoins: A maximum 18-month grace period after the bill's enactment, aimed at encouraging existing stablecoin issuers (such as USDT, USDC, etc.) to promptly obtain licenses or become compliant.
After finishing the main content, let's talk about the significance of this matter with an excited heart.
Over the years, when others asked, "After working in the Crypto industry for 16 years, what application have you created?"
In the future, you can confidently tell others—Stablecoins.
Some people have held opposing views. In the past, people's impression of stablecoins was that they were an opaque black box. Every few months, there would be FUD — whether Tether's assets were frozen or Circle had a significant black hole deficit.
In fact, if you think about it, Tether easily rakes in billions of dollars a year just from the interest on those underlying government bonds. Circle, slightly less, also made a $1.7 billion profit last year.
They basically made money while standing there. From a motivational standpoint, they have no malicious intentions. In fact, they are the most eager for compliance.
Now, this opaque black box will become a transparent white box.
In the past, the only complaint was that Tether's funds might have been frozen by the United States. Now, they will be directly placed into U.S. compliant custodial institutions, with high-frequency disclosures, so you can rest assured.
【No need to worry about a rug pull】 is such a huge advantage—I think especially all Crypto people understand this.
Stablecoins were once almost on the verge of being overtaken by CBDCs. In any country, if a central bank digital currency really exists, it is highly likely not built on a blockchain, at most it is built on some internal central bank consortium chain, which to be honest, is meaningless.
When CBDCs were at their peak, that was the most dangerous time for stablecoins.
If CBDCs had become a reality back then, stablecoins today would have been relentlessly suppressed into a dark corner, and blockchain would only be able to play a minimal role.
The remaining half-dead stablecoins would even have to learn the standards of central bank digital currencies, completely relinquishing their standard-setting power.
And now, stablecoins have won (or are about to).
Instead, everyone should learn the 【Blockchain + Token】 standard.
Nowadays, many blockchains actually have no meaningful applications on top, only stablecoin transfers. For example, with Aptos, the only scenario I use Aptos for is transfers between Binance and OKX.
And now, stablecoins will be legislated, what does that mean?
That's right, blockchain will become the only standard.
In the future, every stablecoin user will be the first to learn how to use a wallet.
As an aside, I actually think Ethereum's concerted push for EIP-7702 is quite forward-thinking. While other chains are all about memes, thank you Ethereum for sticking to account abstraction.
EIP-7702 is about Account Abstraction, which can support, for example:
· Social Account Registration Wallet
· Paying GAS with Native Coin
· And more
This paves the way for future new users to heavily use stablecoins, solving the last-mile problem.
Furthermore, once stablecoins receive legislative support, deposits and withdrawals will become even easier.
Let's imagine a scenario: previously, hindered by the gray nature of stablecoins, but after the bill passes, many traditional brokerages can support stablecoins themselves. The money from a US stock investor can be converted into stablecoins in minutes and instantly deposited into Coinbase. Believe it or not.
Let's imagine another scenario: if the brilliant bill smoothly passes through the House of Representatives, next, you will see:
Due to the extremely lucrative nature of this trading, existing stablecoin leaders and newly entering traditional giants will crazily start promoting their stablecoin products.
And an outsider, due to these promotions, will start using stablecoins. And then one day, after finding out that the wallet account has been created, will explore Bitcoin inside. Is mining Bitcoin difficult?
Stablecoins are a huge Trojan horse. The moment you start using stablecoins, you unwittingly step half a foot into the Crypto world.
As a large reservoir for digesting US debt, although stablecoins cannot directly absorb debt, they at least provide ammunition for the US debt secondary market. These functions are quite important, and slowly, stablecoins are becoming a part of the US debt market's body. Therefore, once the US legislation is passed and experiences the benefits, there is no turning back.
And, we are also confident that stablecoins are indeed one of the great innovations in our industry. People who have used stablecoins will find it hard to return to the traditional cash-banking system.
Once the bill is passed, users can't go back. In the future, concerns are about to be resolved, standards will be mastered, and the era of large deposits seems to be on the horizon.
Original Article Link
After CEX and Wallet, OKX enters the payment game
Why Are Crypto Projects Rushing to Issue Credit Cards? A Battle Between Web3 and the Real World
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