#稳定币市场发展 Listen to me, this new research on stablecoins is quite interesting. Previously, everyone thought stablecoins would heavily compete with bank deposits, but what happened? Data shows there hasn't been a large-scale outflow of deposits. Why? Because although transfers are convenient, a complete set of financial services—mortgages, credit cards, direct salary payments—are all tied to bank accounts. This level of convenience can't be easily broken apart.

What's even more interesting is that although stablecoins haven't "killed banks," they have become a form of competitive pressure, forcing banks to stop earning passively and start raising deposit interest rates and optimizing services. With alternatives available, banks can't afford to be lazy. Now, the US has added a regulatory framework for stablecoins through the GENIUS Act, bringing real opportunities—cross-border payments can be reduced from days to seconds, releasing liquidity that was previously occupied by agent bank systems. This isn't about one replacing the other; it's an upgrade of the entire financial pipeline. If banks are still worried about competition, that's just unwise.