Collins, who is no longer involved in Tether's daily operations, is now building the next-generation stablecoin infrastructure called STBL.

In an interview on the podcast "On the Margin," he stated that the next phase of stablecoins will focus on: higher-yield reserve assets, genuinely returning profits to users, and enabling banks, brands, sports teams, platforms, and various institutions to issue their own stablecoins through underlying protocols.