Tether Co-founder: Stablecoins Will Enter the 2.0 Era, Users Should Share Reserve Yields in the Future

Odaily Odaily reports that Reeve Collins, co-founder of Tether, stated that the stablecoin industry is ushering in a "2.0 era." He pointed out that the current stablecoin infrastructure still has structural issues, and the next generation of solutions must address the problem of users being unable to earn yields on reserve assets. The core logic of the stablecoin 1.0 model is "users provide $1, the issuer mints 1 token," but users only gain convenience for payments and transfers, without sharing in the reserve yields. In the future, financial services will gradually become infrastructure, and "users won't care which bank sends the funds." AI agents may choose different financial ecosystems based on user interests. The next phase of stablecoin competition will revolve around financial infrastructure and yield distribution models.

Regarding regulatory issues, Reeve Collins disclosed that he still holds Bitcoin long-term. He also pointed out that dollar-pegged stablecoins are essentially an extension of the U.S. financial system, carrying the risk of regulatory intervention. Furthermore, their model differs from Central Bank Digital Currencies (CBDCs), as the latter could offer stronger programmability and financial surveillance capabilities. (Financefeeds)