Tether Collins, co -founder of Tether, launches the decentralized Stablecooin who will compete with USDT in an increasingly crowded space still dominated by two players.
The project for the first time in Stablecoin will be called USP on Ethereum and Solana Blockchains in the second half of 2025, According to To Bloomberg.
PI will use smart steroids to intensify USP Stablecoin and will gain minters yield in the form of another symbol called USI.
Competition with Tether
Stablecoin will be supported by the realistic assets that carry the return such as bonds and assembly with assets such as cabinet and market boxes.
“We consider the PI protocol to be the development of Stablecoins,” Colines told Bloomberg before comparing it to the spices.
Tether has succeeded in presenting the demand for Stablecoins. But they keep all the return. After 10 years, we believe that the market is really ready for development. “
Collins, who was the CEO of 2013 to 2015, sold tension to BitFinex operators in 2015. At that time, the market value of USDT Stablecoin was less than a billion dollars, and today it is close to record levels of more than $ 140 billion.
“You want the non -encryption assets that consist of average to high risk,” said Pundep Singh Rangar.
We have a mechanism that evaluates the quality of the original. It is those that are examined on their loss rate and upbringing where you come. “
The regulations are transformed. Stablecoins will be carried by bearing assets, the following trillion dollars
PI (PIPRTOCOL) protocol February 18, 2025
Stablecoins got a green light this year with the election of US President Donald Trump. In his early days, he signed an executive order to promote dependence on the US dollar during the Congress while working on a regulatory framework for them.
Coinbase Brian Armstrong also wants to get rid of the market hegemony in Tether. In the company’s profit call last week, he said that the company aims to make USDC “number one” but he admitted that this ambition was a “extended goal”.
Crowded space
USP enter the highly competitive Stablecoin market dominated by Tether, which has a 60 % share of the current offer of $ 141 billion.
USDC has seen Circle growth in supply and market in recent months, and is currently $ 56 billion, giving her a 24 % market share.
The third largest stablecoin is USDS, which was previously Dai, which has just less than 9 billion dollars in trading and market share is about 4 %.
Binance Free $ 600 (Full Details).
Limited offer for Cryptopotato readers in Bybit: Use this link to register and open a $ 500 free site on any coin!
