The Future of US Dollar Stablecoins in the Eyes of Web3 Executives: Simplification and Integration are Key

The future of the US dollar stablecoin may be simpler and clearer than we imagine. According to Helius CEO Murtaza Mutahz, US dollar stablecoins will eventually bid farewell to their independent trading codes and shift towards a more unified presentation.

In his vision, the trading platform would integrate various stablecoins in the background, but users would only see a simple "USD" option on the interface. This trend reflects the reality that the stablecoin market has entered a commoditization stage.

Mutaz takes the fierce competition surrounding the Hyperliquid dollar stablecoin (USDH) as an example, pointing out that the phenomenon of multiple companies promising to return 100% of profits to Hyperliquid is a clear evidence of the commodification of stablecoins.

However, this development trend also brings new challenges. Mutaz predicts that more companies will launch their own stablecoins in the future, while existing stablecoin issuers will also establish dedicated payment chains. This situation could lead to liquidity fragmentation issues, causing funds to be trapped in their respective closed ecosystems and unable to flow freely.

This makes me ponder how ordinary users should respond when every company in the market has its own stablecoin, and funds seem to be locked on individual small islands. Perhaps this is precisely why we need a more unified and simplified stablecoin system.

Currently, the stablecoin market appears to be at a critical crossroads, filled with opportunities yet facing challenges. Simplifying the user experience is a trend, but avoiding liquidity fragmentation is a challenge that must be addressed.