TechFlow News, June 20: According to FinanceFeeds, Reeve Collins, co-founder of Tether, stated that the stablecoin industry is entering a “2.0 era.” Current stablecoin infrastructure still suffers from structural issues, and next-generation solutions must address users’ inability to earn returns on reserve assets. The core logic of stablecoins 1.0—“users deposit $1, and the issuer mints one token”—grants users only payment and transfer convenience, without sharing in reserve earnings. In the future, financial services will increasingly become infrastructure; “users won’t care which bank sends funds,” and AI agents may select different financial ecosystems based on user interests. The next phase of stablecoin competition will center on financial infrastructure and yield-distribution models.
On regulatory matters, Reeve Collins revealed he continues to hold Bitcoin long-term. He also noted that USD-pegged stablecoins remain, in essence, extensions of the U.S. financial system—exposing them to regulatory reach—and differ fundamentally from central bank digital currencies (CBDCs), which could offer stronger programmability and financial surveillance capabilities.
