In the past 24 hours, the stablecoin sector has experienced a massive shake-up:

💥 Circle launches the USDC native public chain Arc

💥 Stripe teams up with Paradigm to develop the Tempo blockchain

💥 Tether accelerates the advancement of Plasma / Stable

What they have in common is: no longer satisfied with just issuing tokens, but instead building their own "bank-like" chains, controlling the entire process from users to nodes.

At the same time, Gavin Wood stated months ago in an interview that the issuers behind stablecoins are moving towards "bankification". He later mentioned at the Web3 Summit in July that @Polkadot Network will issue a completely decentralized native stablecoin, with DOT serving as collateral and initiated through a treasury proposal.

Perhaps in the future, centralized stablecoin chains and decentralized stablecoin networks will coexist, but they represent two entirely different value systems. The former pursues compliance, control, and operational efficiency at the cost of sacrificing openness and censorship resistance; the latter seeks financial sovereignty and public attributes, which may require exploring more balance in performance and compliance.

The implementation of stablecoin legislation in the United States will undoubtedly accelerate this differentiation process. Giants will use it to build "bank-like" chains, while public chain projects like Ethereum and Polkadot will attempt to uphold that decentralized original intention.

For users, choosing which path to take will determine whether you are a served customer or a truly autonomous participant in the future on-chain world.

Learn more in the latest article from PolkaWorld 《稳定币发行方正走向 “银行化”，Polkadot 计划推出真正的 Web3 稳定币！》 #Polkadot