Tether is expected to achieve over $10 billion in net profit this year, a news that has sparked great interest from global banks in the stablecoin market. Société Générale-Forge of Societe Generale has launched a euro-backed stablecoin, and Oddo BHF SCA is also developing similar products. Meanwhile, London’s Revolut is considering issuing its own stablecoin, while Deutsche Bank plans to launch a stablecoin next year. BBVA is collaborating with Visa to pilot a tokenized network for bank-issued stablecoins in 2025. Additionally, Standard Chartered Bank has been selected as one of the first banks to issue a Hong Kong dollar stablecoin.