StableCoin

The article provides a detailed introduction to the background, technical details, and future potential of JPMD, analyzing its differences from stablecoins and its positioning in the fields of cryptocurrency and traditional finance.

In June 2025, the U.S. Senate officially passed the GEN Act, establishing a federal regulatory framework for stablecoins, which may propel the U.S. to become a Crypto Assets financial center. The article details the core provisions of the act, the insider dynamics of bipartisan negotiations, and the profound impact on Tether and the stablecoin market.

This in-depth analysis explores why stablecoins have the potential to give rise to the first fintech giant with a trillion-dollar market capitalization. The article reviews the evolution of modern payment systems, pointing out that stablecoins are not merely a supplement to existing payment frameworks but a pivotal technology for reconstructing payment infrastructure. They can eliminate the traditional multi-layered intermediary structures, achieve end-to-end on-chain settlement for payments, enable atomic clearing, and incorporate programmable financial logic—ultimately reshaping the global pathways for financial value circulation.

Ant Group and JD.com enter the stablecoin market, not to challenge USDT, but to experiment with an on-chain Renminbi network in Hong Kong as a financial outpost. This article analyzes the underlying sovereign finance and cross-border settlement layout, revealing how tech companies are probing the future of currency with a commercial logic approach.

The author analyzes the potential of stablecoins as an infrastructure layer, drawing lessons from the era of Banking as a Service (BaaS), and predicts its profound impact on the industry in the next decade.

This report systematically examines the mechanism design and user yield pathways of yield-bearing stablecoins. By analyzing representative projects such as USDe, USDS, and USDY, the report distills the core logic and strategic framework behind stablecoin Alpha in the current market environment, helping investors identify high-quality opportunities with risk-adjusted return potential. It emphasizes that stablecoin Alpha is not simply about high yields, but rather a structured, sustainable, and incentive-driven return system. Yield sources span on-chain arbitrage, off-chain assets, mechanism innovation, and ecosystem incentives. The report also underscores the importance of managing key risks—such as liquidation, liquidity constraints, and protocol security—while pursuing enhanced returns.

The article discusses in detail Tether's Bitcoin reserve strategy, the expansion of its mining business, investments in the ecosystem, and cultural promotion activities, while revealing the conspiracy theories and regulatory risks it has triggered in the market.

Plasma is more than a stablecoin chain—it's a BTC sidechain with native USDT, built-in privacy, and no governance token. A new financial layer for Bitcoin.

The article provides a detailed analysis of the growth trends in the stablecoin market, Ethereum's core position in the stablecoin ecosystem, and how stablecoins can bring new growth opportunities to Ethereum.

The article reveals the irrationality and one-sidedness of these conspiracy theories through detailed rational rebuttals and factual analysis, while also exploring the reasons for the growth and dissemination of conspiracy theories, emphasizing the importance of maintaining rationality, evidence, and critical thinking in the face of complex market phenomena.

The trading volume of stablecoins has become comparable to traditional payment networks such as Visa, and their applications in cross-border payments, inflation resistance, and daily transactions are becoming increasingly widespread.

Partner of a16z deeply analyzes how stablecoins evolve into real "currencies", and explores the impact of currency singularity, the sovereign risk of the US dollar, and Treasury - bond collateral on the financial system, as well as the reform paths.

Circle plans to go public on June 5th with a valuation of $6.7 billion, potentially kicking off a "stablecoin summer." This article analyzes the potential boost of $CRCL to stablecoin protocols such as DeFi, $MKR, and $ENA, and explores why it could become a critical inflection point for the convergence of TradFi and crypto narratives.

Codex is an innovative project in the stablecoin space, aiming to build a universal electronic cash system. With its uniquely modular and multi-chain architecture tailored specifically for stablecoins and a robust ecosystem, Codex demonstrates significant growth potential. Through advanced technologies such as Codex Chain, Codex API, Codex FX, as well as Stargate and Conduit, Codex provides businesses with an efficient, secure, and easily integrated stablecoin ecosystem.

The article provides a detailed interpretation of the issuance mechanism of stablecoins, the role of U.S. Treasury bonds as a new type of reserve gold, and its strengthening effect on dollar sovereignty. It reveals how stablecoins have become unofficial contractors of U.S. financial sovereignty and further promote the penetration of the dollar globally.