The Development Prospects of Stablecoins and Their Impact on the Crypto Assets Industry

Recently, the stablecoin sector has ushered in new development opportunities. Some large technology and retail companies have begun to explore issuing their own stablecoins, which has attracted widespread attention in the market. However, unexpectedly, the response within the Crypto Assets community has been relatively tepid, with some funds even shifting towards related stocks in the US stock market. The reasons behind this phenomenon are worth exploring in depth.

The Response of Native Narratives in Crypto Assets to the Stablecoin Craze

The response to the stablecoin craze in the Crypto Assets field has been subdued, mainly due to the following factors:

1. The core of the stablecoin business lies in the issuance channels, rather than technological innovation. Currently, effective issuance channels mainly include Crypto Assets exchanges, internet giants, and traditional banks. This is not directly related to the development direction of most Crypto Assets projects.

2. The success of Tether (USDT) demonstrates that meeting market demand and having strong issuance channels are more important than technological advantages. Even Circle, which has more advanced technology, needs to share 50% of its interest income with a trading platform in exchange for issuance channels.

3. For ordinary investors, stablecoins lack the appeal of short-term windfall profits, making it difficult to stimulate speculative enthusiasm.

Internet Giants: Potential Disruptors in the Stablecoin Space

Traditional banks are at a disadvantage in the competition for stablecoins, mainly due to their inefficient systems and high operating costs. In contrast, the dollar system that operates 24/7 across borders has a greater advantage.

What truly has the potential to change the game are internet giants like Meta, X, and Google. They have a large user base and mature payment scenarios, making large-scale applications of stablecoins possible. Some large tech and retail companies are beginning to explore stablecoins, which is not just a simple business expansion, but is also introducing billions of mainstream users to the Crypto Assets infrastructure.

In the long run, the widespread adoption of stablecoins will drive growth in the infrastructure demands across various fields such as decentralized finance (DeFi), decentralized artificial intelligence (DeAI), and GameFi. Although this impact may not be immediately noticeable in the short term, its long-term effects should not be overlooked.

The Trend of IPOs and Its Far-Reaching Impact

The IPO of Circle may just be the beginning, with more related companies expected to follow. However, most newcomers may lack actual distribution capabilities, even though their market capitalization could be overvalued due to the promotion of the stablecoin concept.

It is worth noting that this wave of IPOs is actually spreading the value concept of Crypto Assets to Wall Street. As traditional investors begin to seriously study the business model of stablecoins, this subtle influence may be more profound than the apparent market heat.

The development of stablecoins marks a turning point for Crypto Assets as they gradually move from peripheral innovation to mainstream commercial applications. Although there may not be a direct sense of heat within the current Crypto Assets circle, in the long run, as the infrastructure for Crypto Assets accommodates more real-world demands, the entire industry will benefit from it.