(Fortune) magazine reports that Tether is expected to achieve a net profit of over $10 billion by the end of this year, which will 'stimulate' several global banks to join the stablecoin market and share in the profits, including: 1. Societe Generale-Forge, a subsidiary of Société Générale, has launched a euro-backed stablecoin; 2. Oddo BHF SCA is also developing a euro-denominated stablecoin; 3. London-based Revolut is considering issuing its own stablecoin; 4. DWS, a Deutsche Bank subsidiary, plans to launch a stablecoin next year; 5. BBVA also plans to enter the stablecoin market and has partnered with Visa to launch a tokenized network for banks to issue stablecoins, with a pilot set for 2025; 6. Standard Chartered Bank, Animoca Brands, and Hong Kong Telecom have been selected by the Hong Kong Monetary Authority as one of the first banks to issue a Hong Kong dollar stablecoin in an experimental project.