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

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

Regarding regulatory issues, Reeve Collins disclosed that he still holds Bitcoin for the long term. He also noted that USD-backed stablecoins are essentially an extension of the U.S. financial system, posing regulatory reach risks. He added that they differ from central bank digital currency (CBDC) models, with the latter potentially offering stronger programmability and financial surveillance capabilities. (Financefeeds)