jakiro
Jessy, Bitchain Vision Realm
In 2024, some major financial centers in the world have become more and more clear about stablecoin.As the regulatory is clear, it is a big explosion of stable coins.
The situation of the USDT family has slowly changed, such as emerging stablecoins such as USDE in 2024.Major traditional financial institutions have also entered the bureau. For example, the payment giant Stripe has begun to accept USDC as a payment medium. In Hong Kong, Standard Chartered Bank has also begun to explore stable coin -related business.As the integration of the encrypted industry and traditional finance is getting closer, the use of stablecoin in the real world is becoming more and more widely used.
The chain is also changing, and the USDT on the Ton chain has quietly risen; although the total amount of USDC has steadily increased, the distribution of the chain changes, and the Base chain becomes its new favorite.The diversified choice of users and funds flow.
The above, the competition pattern of stabilizing the currency market in 2024 is more diverse and fierce.
Clear supervision
In 2024, the most significant feature of the stabilized currency track is the gradual clarity of supervision.This is for those institutions that are preparing to participate in stable currency to clarify a legal and unable to do. With the rules, these institutions preparing to issue stablecoins can show their feet.
First of all, the US, the US Securities and Exchange Commission (SEC) and other regulatory agencies have gradually clarified the supervision of stablecoins, strengthening the review and supervision of stable coins related businesses.For example, the issuer of stable currency is required to comply with strict registration and compliance requirements to ensure that the issuance and operation of stable coins meet laws and regulations.EssenceRelated stable currency legislative processes are also constantly advancing. For example, the “Payment Stability Act” is in a very in -depth stage, and the introduction of the bill will provide a clearer and specific legal framework for the supervision of stablecoin.
The development of web3 in Hong Kong also entered the second anniversary. In 2024, the two largest development of Hong Kong Web3 was the launch and stable coins of Bitcoin and Ethereum spot ETFs into the sandbox test stage.In March 2024, the Hong Kong HKMA announced the launch of the “sandbox” of stable currency issuers, allowing to test stable currency issuance in supervision sandboxes.The list of sandbox participants was announced in July, including JD.com Cinnamon Technology (Hong Kong) Co., Ltd., Yuancoin Innovation Technology Co., Ltd., Standard Chartered Bank, etc.
In addition, the Hong Kong Treasury Bureau is expected to submit a draft of the regulatory regulatory regulatory regulatory supervision of the Legislative Council by the end of 2024. The draft has established a 6 -month transition period and a clear licensing standard, which aims to ensure the issuance and operation of the fiat currency stable currency.Comply with international regulatory standards.
In Europe, in the third quarter of this year, the European Union entered into effect based on the new rules formulated by the Crypto Asset Market Supervision Bureau (MICA), and put forward a series of regulatory requirements for the issuance, transactions and operations of stable coins.
In June of this year, in the UAE, this areas that are more friendly to crypto finance compared to other countries in the world, approve the release of stable currency supervision and license regulations.Methods, this strengthens the supervision of stable currency in the payment field
It is the approval of the above regulations that have achieved the cornerstone of the stable currency projects.
Active bets from head institutions and public chains in the encryption industry
Even if there is no supervision, it has gradually clearly liberalized. In the industry, stablecoins have always been a must -have place for soldiers. The major public chains, as well as exchanges, and payment projects are actively issuing their own stablecoins.
This year, with the clear supervision and the arrival of the bull market, the competition is becoming more intense, and the movement of the head institutions has become more and more frequent.
Taking Binance as an example, the native stable currency BUSD issued in the early years has been suspended by the SEC, and has been conducting various related attempts. First of all, to strengthen cooperation with FDUSD.币，于2023 年7 月26 日在币安上线，最初，币安不仅推出了一系列的免手续费的活动来扶持该稳定币，还为其提供了多种交易服务和功能支持，包括将It is added to the AUTO-Invest function, P2P trading platform, and Binance Convert service.
For the industry’s head exchange, Binance, Binance has been working hard to own its own stablecoin.In addition to FDUSD, Binance also introduced Tusd of partners in 2023.
In December 2024, Binance announced the establishment of a strategic partnership with the publisher of the stable currency USDC; it also invested and launched Lista stabilizer: Lista, as the second phase of the MEGADROP of Binance, isThe leader of the track has business forms such as stable currency lending and pledge dual -mode engine. Since the launch of airdrop mission activities and Binance, TVL has grown rapidly.
Not only that, Binance also invested in PEENA, the first stable currency infrastructure agreement on the Solana network. The investment object is the Quine Co behind the agreement. The agreement focuses on real world assets.
Other head projects in the industry have accelerated the layout of the stabilized currency project this year. For example, the stable coin Ripple USD launched by the payment company Ripple will also be launched at the end of this year.
The major public chains are also actively promoting their own native stablecoins, such as TON, SUI, etc. The launch of stable coins on the chain is the basis for its DEFI to flourish.In order to develop its own ecology, the major chains have to actively grab the beach stable currency.
Technological innovation caused by the bull market
In 2024, the stabilization currency project is full of flowers. One of the important features is that crypto native projects are actively carrying out the technological innovation of stabilizing currency.The active innovation of encrypted native stable coins stems from the promotion of the bull market.
This year, a more typical project in agreement and technological innovation is Ethena.The project was officially operated in February 2024, and it received a total of $ 25 million in cumulative investment in many cumulative investment in many cumulative investment in a number of cumulative investment of 25 million US dollars in a number of cumulative investment of 25 million US dollars.
In Ethena, there are three main parts, which are USDE, SUSDE, and Internet bonds.
USDE: It is a stable currency based on Ethereum, which provides guarantees from derivatives.Ethena allows users to use US dollar, ETH or liquid pledged tokens as mortgages to create USDE.
SUSDE: Reward obtained by pledged liquid pledge chips and funding rates.Initial 1 SUSDE: 1 USDE, over time, 1 Susde & GT; 1 USDE.
Internet bonds: Based on USDE, combined with the yields from Ethereum, and the funds and target price difference from perpetual drops and futures markets.U.S. dollar pricing savings tools of users in the jurisdiction of judicial jurisdiction
This project is more innovative. Its stable currency anchor mechanism, which achieves 1usde anchor 1 USD, mainly made three settings. One of the more innovative settings is that it has set up a mortgage asset portfolio and a combination of assets and the mortgage asset portfolio and the combination of mortgage assets and the combination of mortgage assets.Delta hedge mechanism.This is an innovative mortgage method that makes USDE anchors the US dollar.In this stable currency, the spot ETH bulls and futures ETH shorts constitute a mortgage asset. This mortgage combination is designed as “Delta neutral”.(Delta is an indicator for measuring the sensitivity of the price of derivatives to the target asset price change)
Under this setting, when the price of ETH rises, the value of the spot ETH bulls increases, but the value of the futures ETH empty will decrease accordingly, because the short position will lose money when the price increases.Because their quantity is equal configuration, these two value changes offset each other.In the same way, when ETH’s price fell, the spot ETH polygon value decreased, and the value of the futures ETH increased, and it could also offset each other.The value of mortgage assets can be relatively stable when ETH price fluctuations can be maintained, which provides a stable value foundation for USDE.
It is due to this innovation and its strong airdrops and marketing activities that the annualization rate of high SUSDE.As a result, Ethena’s TVL has grown rapidly to the present. According to DEFILLAMA data, its TVL has reached an amazing $ 5.641 billion.
In addition to Ethena, there are some other innovations, such as the launch of Lista, which is a open source decentralized stable currency loan protocol, and its native token is lista.It allows users to pledge and liquid pledge on Lista and borrow Lisusd for various decentralized collaterals.The innovation of the project is to provide a new solution to cope with the capital efficiency problem faced by over -mortgaged stable coins.
Traditional financial institutions enter the bureau
Stable currency as an encrypted holy grail, in each round of bull markets, some new projects and innovations will be generated.The biggest difference between 2024 and the previous bull market is the entry of traditional financial institutions or payment giants.This is derived from the loosening of supervision, and is gradually incorporated into real life because the encryption is gradually integrated.
The two most typical examples of traditional financial giants are the US dollar stablecoin PYUSD launched by Paypal Paypal, and the other is to pay the giant STRIPE to acquire a stablecoin platform Bridge for $ 1.1 billion in 2024.
PyusD100% is anchored by US dollar deposits, short -term US Treasury bonds and similar cash equivalents.It was launched on Ethereum in 2023, and launched on Solana in May 2024.In terms of specific use cases, currently eligible American users can transfer PYUSD between PayPal and compatible external wallets, use PYUSD for point -to -point payment, choose PYUSD payment at the checkout, and the cryptocurrency supported by Paypal and PYUSD can be mutually related to each other.Conversion.Pyusd can also be used for cross -border P2P payment on Xoom, providing users with faster and low -cost cross -border remittance methods, and so on.
As early as October 10, 2024, Stripe officially announced that it would support the payment of stable currency USDC, allowing users from more than 150 countries around the world to transfer stable coins through Ethereum, Solana and Polygon.In November 2024, STRIPE launched the function of B2B payment through stablecoins. Users can create and send invoices that can be paid by stable coins on Stripe to meet the more efficient and low -cost payment methods in cross -border transactions and other scenarios in cross -border transactions and other scenarios.Demand.
In Hong Kong, Standard Chartered Bank, JD Coin Technology (Hong Kong), etc. have entered the Hong Kong dollar stabilizer.The entry of traditional payment and financial giants will undoubtedly be used in the real world to be more widely used in the real world.
This year is the age of a stable currency. Looking forward to the future, with the clearness of supervision and the continuous innovation of technology, the role of stable currency will become more and more important whether it is on the chain or under the chain finance.
