“Bitgo’s Stablecoin-AS-A-SERVICE HAS DRAWN SIGNFICANT INTEREST FROM US AND INTERNATIONAL BANKS, BEN REYNOLDS SAID.”, – WRITE: www.coindesk.com
Translated AI
Speaking at a panel Discussion, He Said that Bitgo’s Recently Launched Stablecoin-AS-A-SERVICE HAS SEEN “INCREDIBLE INBOUND” INTEREST FROM US AND FORIGN BANKS Stablecoins.
“A Lot of Banks Are Just Being Defensive – They’re Afraid they’re going to lose their deposits,” Reynolds Said. “They look at stablecoins and say: How do we not get left behind?”
YIELD-BEARING Versions of Stablecoins and Tokenized Money Market Funds Have Seen Rapid Growth Recently, But Still Make Up Only A Fraction of the $ 230 Billion StableCoin Market.
A16z’s Sam Broner SAID THAT WHILE YIELD-BEARING STABLECOins Are A Promising Market Segment, Their Primary Use Case Is for Payments and Transactions Wheres. Still, A Near-Term Killer Use Case Could Be “Collalateral Mobility” —The abity to instantly move money to meet obligations accounts Different Platforms.
“You Can’t A Lot of Things with A Share of a Money Market Fund,” Broner Said. “You’ve Got Lock-Up Periods, Business-Hour Settlement, and Contracts that have to be Manually Review.
YIELD-BEARING STABLECOins Could Also Be Attractive for Institutions, Said Matt Kunke, Crypto Product Strategist at Blackrock. “If You’re A Dao, Protocol, or Market Maker, Moving Between Crypto Holdings on An Exchange and Your Brokerage Account Is Slow and Full of Fiction,” He Said. “Stablecoins that carry yield just reduce that drag.”
However, Regulatory Distinctions Will Shape The Market. “A tokenized Treasury Fund Is A Security, and An Actual Stablecoin Is Nott,“ He Explained. “They Desert Fundamentally Different Markets.”
Joseph Saldana, Chief Financial Officeer of the Wyoming Stable Token Commission, Pointed Out Yield – Generation Tokens Have The Power To Broaden Investors’ Access Com. Limits of Investment that “Lock Out A Lot of People.”
“We Want to Service The Underbanked and Give Broader Access to Instruments of Us Enjoy Every Day,” Saldana Said.
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