Why does everyone want to get a piece of the stablecoin pie?
Recently, JD.com and Xiaomi have teamed up to issue Hong Kong dollar stablecoins in Hong Kong. At present, the absolute king of the stablecoin market is [Tether USDT], but almost all traditional giants want to enter the stablecoin market to get a piece of the pie, including Paypal, Binance, etc.
The reason is that stablecoins are the foundation of Web3. As long as Web3 is still there, the demand for stablecoins will always be there, which is beyond doubt.
Secondly, stablecoins are a super transaction that is guaranteed to make money. Almost 99% of people in the currency circle will not experience redemption operations from stablecoin issuers throughout their entire currency circle career. Because everyone is C2C, I have 1 USDT, sell it to you, you give me the corresponding value of legal currency, and I give you this 1 USDT. This process does not involve redemption operations with the issuer.
Therefore, stablecoin issuers can use everyone's money to do capital transactions. Tether is basically all in US bonds, which is a more violent and stable transaction than banks.
In fact, many people in China who want to withdraw money use JD.com cards. JD.com now issues its own stablecoins, which makes things much easier. For JD.com, it is equivalent to printing its own money, providing a lot of cash flow, which is much greater than the cash flow brought by JD Finance.
It is difficult to subvert the dominance of USDT, but it does not affect coming in to share a piece of the pie.
