{"id":128169,"date":"2025-04-29T04:16:08","date_gmt":"2025-04-29T04:16:08","guid":{"rendered":"http:\/\/cryptospotters.net\/?p=128169"},"modified":"2025-04-29T04:16:08","modified_gmt":"2025-04-29T04:16:08","slug":"us-dollar-to-face-growing-competition-for-stablecoin-dominance-tether-co-founder","status":"publish","type":"post","link":"http:\/\/cryptospotters.net\/?p=128169","title":{"rendered":"US dollar to face growing competition for stablecoin dominance: Tether co-founder"},"content":{"rendered":"<p>Source: Cointelegraph.com NewsWhile United States dollar-denominated stablecoins dominate the stablecoin and real-world asset (RWA) tokenization game, other competitors are coming into play, according to Tether co-founder Reeve Collins.\u00a0<br \/>\nSpeaking to Cointelegraph in Dubai, Collins said that while USD-backed stablecoins may currently dominate, other currencies and assets may compete to back stablecoins. He said:\u00a0<br \/>\n\u201cThe stablecoin definitely helps preserve the dollar dominance, especially in the crypto space. The dollar is kind of the reserve currency of crypto. But now there are other currencies coming into play. But more importantly, it&#8217;s not currencies. It&#8217;s other types of backing.\u201d<br \/>\nCollins said that these other assets used to back stablecoins may compete with US dollars by bringing a higher yield to users.\u00a0<br \/>\nInterview with Tether co-founder Reeve Collins in Dubai, UAE. Source: Cointelegraph\u00a0Tether co-founder says tokenized assets can back stablecoins<br \/>\nCollins, who works bringing stablecoin yield for users through Pi Protocol, told Cointelegraph that apart from currencies, money-market funds, other commodities and gold could back stablecoins in the future.\u00a0<br \/>\n\u201cWhen you can back it with money market funds, for instance, that generate a higher yield than T-bills and other things like that that are coming onchain, where there\u2019s a lot of yield that will be generated. Those will take precedence,\u201d Collins said.\u00a0<br \/>\nCollins said these will \u201cstart winning\u201d because they bring higher user returns. Furthermore, the executive also said RWA tokenization could play a role in stablecoin backing.\u00a0<br \/>\nThe executive told Cointelegraph that since all types of assets can be tokenized, these can be used to back stablecoins in the future. \u201cYou\u2019re going to have a lot of choices other than just dollars,\u201d he added.\u00a0<br \/>\nRelated: Tether boosts Juventus stake to 10% in latest strategic buy<br \/>\nTrump-linked stablecoin lays foundation for the rest of the world<br \/>\nIn March, the World Liberty Financial (WLFI) project, backed by US President Donald Trump, launched its stablecoin on BNB Chain and Ethereum. However, the project said that the tokens were not tradable yet.\u00a0<br \/>\nAccording to Collins, the stablecoin entry of a Trump-backed project means that stablecoins are now \u201cfully accepted.\u201d The executive believes everyone will get involved in stablecoins because of the move. This includes institutions, governments and financial technology companies.\u00a0<br \/>\n\u201cThe President of the United States launched a stablecoin. It\u2019s impressive. It lays the foundation for the rest of the world to do it as well,\u201d he said.\u00a0<br \/>\nMagazine: Ethereum is destroying the competition in the $16.1T TradFi tokenization race<a href=\"https:\/\/cointelegraph.com\/news\/tether-reeve-collins-stablecoin-backing-gold-tokenized-assets?utm_source=rss_feed&amp;utm_medium=rss&amp;utm_campaign=rss_partner_inbound\" target=\"_blank\" class=\"feedzy-rss-link-icon\" rel=\"noopener\">Read More<\/a><\/p>","protected":false},"excerpt":{"rendered":"<p>Source: Cointelegraph.com NewsWhile United States dollar-denominated stablecoins dominate the stablecoin and real-world asset (RWA) tokenization game, other competitors are coming into play, according to Tether co-founder Reeve Collins.\u00a0 Speaking to&hellip; <\/p>\n","protected":false},"author":0,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[5],"tags":[],"_links":{"self":[{"href":"http:\/\/cryptospotters.net\/index.php?rest_route=\/wp\/v2\/posts\/128169"}],"collection":[{"href":"http:\/\/cryptospotters.net\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"http:\/\/cryptospotters.net\/index.php?rest_route=\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"http:\/\/cryptospotters.net\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=128169"}],"version-history":[{"count":0,"href":"http:\/\/cryptospotters.net\/index.php?rest_route=\/wp\/v2\/posts\/128169\/revisions"}],"wp:attachment":[{"href":"http:\/\/cryptospotters.net\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=128169"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/cryptospotters.net\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=128169"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/cryptospotters.net\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=128169"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}