Svmuu News: Reeve Collins, co-founder of Tether, stated that the stablecoin industry is entering its “2.0 era.” He noted that current stablecoin infrastructure still suffers from structural issues, and next-generation solutions must address the problem that users cannot access returns on reserve assets. The core logic of the Stablecoin 1.0 model is “users provide $1,the issuer issues 1 token.” However, users only gain the convenience of payments and transfers without sharing in the returns from the reserves. In the future, financial services will gradually become infrastructure; “users won’t care which bank sends the funds,” and AI agents may select different financial ecosystems based on users’ interests. The next phase of competition in the stablecoin sector will center on financial infrastructure and yield distribution models. Regarding regulatory issues, Reeve Collins disclosed that he remains a long-term holder of Bitcoin. He also pointed out that U.S. dollar-pegged stablecoins are essentially an extension of the U.S. financial system, posing risks of regulatory reach and differing from the central bank digital currency (CBDC) model, which may offer greater programmability and financial monitoring capabilities. (Financefeeds)