Stablecoin

Fintech 4.0 is emerging: Stablecoins and programmable finance are fundamentally rewriting the underlying architecture of financial technology. Functions such as custody, settlement, and credit are no longer solely reliant on traditional banks but are increasingly supported by open networks, reducing startup costs from millions to thousands of dollars. This article analyzes how stablecoins are restructuring financial infrastructure, making it possible to create tailored financial products for specific groups, while also revealing the new competitive logic shaping the future of fintech.

This article discusses how tokenized deposits facilitate low-cost lending within the banking system, while stablecoins provide cross-border, 24/7, and permissionless solutions for capital movement. It further highlights that the future of the financial system lies in the coexistence and synergy of these two approaches.

StableChain is a USDT-native payment public chain supported by Bitfinex and Tether. This article provides an in-depth analysis of its vision, core features, technical architecture, team background, along with its differentiated advantages compared to stablecoin protocols such as MakerDAO and Frax, and explores its application prospects in the payment and DeFi ecosystems.

Through systematic comparison and technical case studies, this article examines how multi-party computation and fully homomorphic encryption break through traditional constraints to achieve encrypted shared states, paving the way for innovative applications.

The world of stablecoins in 2025 is sharply divided. Mainland China maintains its comprehensive ban on virtual currencies, categorizing stablecoins as illegal financial activities. In contrast, the global financial system is undergoing rapid transformation, driven by the accelerated integration of stablecoins and on-chain infrastructure. In this article, we use original regulatory texts as a foundation to analyze in depth the implications of “policy documents remain effective.” We also examine the dynamic evaluation of overseas stablecoins. The article explores significant changes in financial infrastructure through blockchain accounting, digital wallets, and asset tokenization, offering a clear perspective on the likely future trajectory of stablecoins.

The article analyzes stablecoin yield collapse caused by token depreciation, capital flight, and competition from traditional finance. It exposes "risk-free yields" as emission-driven bubbles, with DeFi yields now near zero. The piece traces the industry's boom-bust cycle, arguing sustainable yields require genuine revenue and risk pricing.

Through a detailed analysis of stablecoins' operational mechanisms and design differences, the article reveals their performance under market stress and their impact on the financial system.

The article not only highlights the advantages of stablecoins in transactions, payments, and cross-border settlements, but also analyzes their role in consolidating dollar hegemony and their importance as a financial lifeline in emerging markets.

This article provides a detailed analysis of Tether’s financial performance, the rapid growth of its gold holdings, and its integration across the gold supply chain. It reveals Tether’s vision to build a global financial institution that generates profits from U.S. Treasuries and is primarily backed by gold and Bitcoin.

The article provides a detailed comparison of Circle's and Tether's respective reserve management strategies. It also explains how these strategies affect each company's risk, transparency, and profitability.

Tether has evolved beyond stablecoin issuance. It is now one of the largest global gold purchasers. The company constructs its own vaults, acquires stakes in mining royalty companies, and advances the fusion of tokenized gold (XAU₮) with decentralized finance. Its ultimate goal is to create a new financial system, styled after a central bank but without borders, anchored by gold and Bitcoin.

The article not only outlines how stablecoin chains are reshaping the cryptocurrency payment landscape through high performance, low fees, and compliant design but also explores their profound impact on the DeFi ecosystem, traditional finance, and global financial regulation.

This article provides an in-depth analysis of the root causes behind the xUSD collapse: from its disguise as a "nominally delta-neutral stablecoin" and off-chain black box strategies to extreme leverage exposure and recursive lending amplifying risks, leading to its systemic liquidation in October 2025. The article also introduces a "Vault Technical Risk Score" framework designed to help users assess the security of DeFi products.

The article not only analyzes the current state and pain points of the market but also proposes innovative solutions, such as instant fund processing, decentralized credit pools, and a new credit scoring system.

The article examines Western Union's transition from cautious observation to proactive engagement, explores the rationale behind selecting the Solana blockchain, and discusses the potential implications of this decision for the cross-border payments industry.