Tether Co-founder Reeves Collins: Stablecoins Entering 2.0 Era, Users Should Share Reserve Yields

According to Reeve Collins, Tether's co-founder, stablecoins are entering a 2.0 era with significant structural improvements. The current 1.0 model allows users to deposit 1 dollar for 1 token, but users only gain payment and transfer benefits without sharing in the reserve asset yields. Collins stated that next-generation stablecoins must solve this problem by enabling users to receive returns from underlying reserves. He added that future financial services will become infrastructure, and AI agents may route transactions across different ecosystems based on user interests. On regulation, Collins noted that U.S. dollar stablecoins remain extensions of the U.S. financial system, carrying regulatory risks, and differ from central bank digital currencies (CBDCs) which offer stronger programmability and financial monitoring capabilities.
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