Friends, have you ever thought that the 'anchor' USDT in the crypto world could make traditional banks restless? The likes of Société Générale in France, Germany's Oddo BHF, UK's Revolut, and even Hong Kong's Monetary Authority are all eyeing this lucrative pie! What kind of financial drama is unfolding behind this? 🎭

Why are banks scrambling to issue stablecoins in the face of a tempting $10 billion profit?

First, let's take a look at this astonishing data:

  • Tether Holdings Ltd., the world's largest stablecoin issuer, is expected to break $10 billion in net profit in 2024! Not only that, but they are also investing over half of their profits, stirring the entire market! 💰

  • Visa has launched a tokenized network for banks to issue stablecoins, planning to pilot with BBVA in 2025, already attracting banks from Hong Kong, Singapore, and Brazil.

Compared to traditional deposit tokens, stablecoins have a wider range of application scenarios:

  • Deposit tokens: Limited to circulation among clients of the same bank.

  • Stablecoins: Anyone with a crypto wallet can use them, truly achieving seamless global payments.

Is this wave of global competition for stablecoins going to completely disrupt the existing financial order? 🤔

Europe vs Asia, who can seize the high ground of stablecoins?

In Europe, financial institutions are gearing up:

  • Société Générale's subsidiary Forge has launched a euro-backed stablecoin, targeting the retail market.

  • Germany's Oddo BHF and London's Revolut are also developing their own versions of stablecoins.

  • The clear policy dividends from MICA regulation are paving the way for the explosion of stablecoins.

In Asia, Hong Kong is not to be outdone:

  • Standard Chartered Bank becomes one of the first issuers of a Hong Kong dollar stablecoin, planning to launch in 2025.

  • Financial institutions in places like Hong Kong and Singapore are joining the stablecoin race, preparing for the next wave of financial innovation!

Behind the brilliance of stablecoins: Risks and games

But stablecoins are not without challenges:

  1. Bank liquidity risk: Research from the European Central Bank indicates that a large amount of retail deposits converting to stablecoins could impact bank liquidity.

  2. Regulation and Trust Crisis: The United States has yet to clarify whether stablecoin deposits are protected by insurance. The mixed issuance of uninsured stablecoins and insured deposits may leave consumers confused.

Moreover, the CBDC (Central Bank Digital Currency) launched by central banks may directly overshadow bank-issued stablecoins in the wholesale payment sector. In such a complex situation, who will come out on top?

How to seize the opportunity of stablecoins?

Are you ready for such a global tide?
To easily tackle the opportunities and risks in the stablecoin market, Mlion.ai has prepared some advice for everyone, as shown in the image below. (For more, visit: mlion.ai)

mlion.ai

Mlion.ai is the AI research assistant in the Web3 vertical that many users rely on daily, providing real-time tracking of cryptocurrency trends and quick access to the most valuable information. It conducts in-depth analysis of market trends, helping you seize market opportunities. The ML SWAP cross-chain exchange feature supports exchanges across 50+ chains such as BTC, ETH, making your operations more efficient and smooth! (Visit: mlion.ai for the experience).

Are stablecoins the next ticket for financial revolution?

Tether is raking in profits, banks are entering the field, Visa is planning globally, Standard Chartered is actively testing waters... The world of stablecoins is unfolding a dramatic scene.
As a regular investor, will you be a bystander or a decision-maker?

Opportunities are right in front of you; don't let delayed information be the reason you miss out on the wave! Follow Mlion and catch the next explosion in the stablecoin market, let's ride the waves of this financial revolution together! 🌊🚀#Tether #稳定币 #加密市场调整