Fireblocks： As TradFi enters the stablecoin market, Tether and Circle will face fierce competition

According to a report by Golden Finance, Fireblocks, an expert in digital asset encryption and custody, stated that the competition for the dominant position of stablecoins is entering its third phase. As the industry faces strengthened regulation from the European Union's Crypto Asset Market (MiCA) system and ongoing US legislation in Congress, companies such as Tether, the largest token issuer, and Circle, the second largest token issuer, are consolidating their positions. Ran Goldi, Senior Vice President of Payments at Fireblocks, stated that in the latest phase, banks of all sizes and existing payment companies will participate, and they are weighing the best way to integrate tokens into their existing businesses. Goldi predicts that up to 50 stablecoins will emerge by the end of this year.