Tether co-founder Reeve Collins said the stablecoin industry is entering a “2.0 era,” arguing that current stablecoin infrastructure still has structural problems and that next-generation models need to address users’ inability to access returns from reserve assets.
According to Odaily, Collins described the core logic of the “stablecoin 1.0” model as users providing $1 and issuers minting one token, while users mainly receive payment and transfer convenience without sharing reserve yields.
Collins said financial services are expected to increasingly become infrastructure, adding that users may not care which bank sends funds. He said AI agents could choose among different financial ecosystems based on users’ interests, and that the next stage of stablecoin competition will center on financial infrastructure and yield distribution models.
On regulation, Collins said he continues to hold Bitcoin for the long term. He also said U.S. dollar stablecoins are essentially an extension of the U.S. financial system and face regulatory reach risks, and that they differ from central bank digital currency (CBDC) models, which he said could bring stronger programmability and financial monitoring capabilities.
Reeve Collins Says Stablecoins Are Entering a 2.0 Era Focused on Yield Sharing
2026-06-20 12:34:03
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