Tether Co-Founder: Stablecoins will enter the 2.0 era, and in the future, users should share in the reserve earnings

Deep Tide TechFlow News, June 20, according to FinanceFeeds report, Tether co-founder Reeve Collins stated that the stablecoin industry is entering a "2.0 era," and the current stablecoin infrastructure still has structural issues, while the next-generation solutions need to address the problem that users cannot earn yields on reserve assets. The core logic of stablecoin 1.0 mode is "users provide 1 dollar, and the issuer issues 1 token," but users only gain payment and transfer convenience and do not share in reserve yields. In the future, financial services will gradually become infrastructure, "users won't care which bank sends the funds," and AI agents may choose different financial ecosystems based on user interests. The next phase of stablecoin competition will focus on financial infrastructure and revenue distribution models.

Regarding regulatory issues, Reeve Collins disclosed that he still holds Bitcoin long-term, and also pointed out that USD stablecoins essentially remain an extension of the U.S. financial system, with regulatory reach risks, and differ from central bank digital currency (CBDC) models, which may offer stronger programmability and financial monitoring capabilities.