New Trends in the Stablecoin Market: Regulation, Compliance, and Innovation Leading the Second Half

The stablecoin industry is moving from a stage of rampant growth into a new era, with three key factors likely to reshape the rules of the game: regulatory clarity, compliance of leading companies, and directions for market innovation.

The global regulatory framework is gradually becoming clearer, defining a clear development direction for the industry. Against this backdrop, a certain stablecoin company has recently gone public and experienced a significant surge, marking not only the mainstream emergence of the stablecoin industry but also providing a valuable reference for traditional capital entering this market.

The future development of stablecoins may be driven by three core trends: innovation in stablecoin DeFi protocols, the popularization of payment tools, and deep integration with real-world assets (RWA).

Three Major Use Cases of Stablecoins

payment field

Traditional cross-border payment systems are inefficient, costly, and opaque, making it difficult to meet the demands of the digital age. Stablecoins are disrupting the traditional payment system with features such as near-zero cost, 24/7 availability, and programmability. Many mainstream payment companies and financial networks have begun to integrate stablecoins, validating their commercial potential. Stablecoins are rapidly evolving from a settlement tool in cryptocurrency exchanges to a global payment and clearing tool.

DeFi field

Mainstream stablecoins have significant capital efficiency issues. Users hold non-interest-bearing stablecoins, while issuers obtain all the returns by investing reserve assets. To address this problem, a new type of yield-bearing stablecoin has emerged, embedding various yield mechanisms directly into the token design, allowing holders to automatically earn returns.

RWA field

RWA tokenization is seen as the core engine driving DeFi towards a trillion-dollar scale. At its core is the on-chain representation of real-world assets with stable cash flows (such as U.S. Treasury bonds), providing sustainable, low-risk real yields for DeFi and attracting institutional capital. RWA injects "value" and "scale" into stablecoins, opening up the imagination space for a trillion-level market.

Top Ten Potential Stablecoin Projects

1. Plasma: A high-performance blockchain designed specifically for stablecoins, addressing the pain points of traditional chains in processing stablecoins. It supports various assets for transaction fees and offers innovative features such as zero-fee USDT transfers.

2. Noble: A USDN stablecoin based on the M^0 architecture, collateralized by short-term U.S. Treasury bonds, supporting cross-chain transfers. Users can participate in points incentive programs or choose high-yield pools.

3. OpenEden: Provides on-chain US Treasury yield products, issuing tokens such as TBILL, USDO, and cUSDO. Users can earn points through various DeFi activities.

4. Cap: Issuance of two products, cUSD and stcUSD. stcUSD generates returns through a decentralized operator network and has a risk control mechanism in place.

5. Coinshift: An on-chain financial management platform for institutions, issuing two types of stablecoins: csUSDL and csUSDC. Users can earn points by completing daily tasks.

6. AUSD: A stablecoin fully backed by cash, U.S. Treasury bonds, and repurchase agreements, supporting compliance features. Users can participate in liquidity mining.

7. Perena: A stablecoin infrastructure built on Solana, issuing yield-bearing stablecoin USD*. Users can earn points through various methods.

8. Level: Issue lvlUSD and slvlUSD, earn low-risk returns by deploying to blue-chip lending protocols. Users can stake assets to earn XP points.

9. Falcon: Offers a USDf stablecoin with multiple minting mechanisms, managing collateral through a neutral market strategy. Users can earn points in various ways.

10. Yala: A native Bitcoin liquidity protocol that allows users to stake BTC to mint the YU stablecoin. It has multiple collateralization ratios and liquidation mechanisms to ensure system stability.

These innovative projects demonstrate the diversified development trend of the stablecoin market, ranging from specialized blockchain solutions to yield-bearing stablecoin designs, which may define a new era for stablecoins in the future. As the regulatory environment becomes increasingly clear, the process of Compliance accelerates, and market innovations continue to emerge, the second half of the competition in the stablecoin industry will unfold on a whole new dimension.