April 16, 2025.
Tether and Circle Face Fierce Competition in the Stablecoin Market
News from Fireblocks indicates that Tether and Circle will face intense competition as banks and payment companies enter the stablecoin market. Ran Goldi, Senior Vice President of Payments at Fireblocks, predicts that there will be an additional 50 new stablecoins by the end of the year. The competition in this sector is entering its third phase, driven by increasing regulations from the European Union and the U.S. Congress. Tether and Circle are actively strengthening their positions to address new challenges from banks and businesses.
The competition in the stablecoin market not only affects Tether and Circle but also has implications for other platforms like SEI, SUI, and ORDI.
SEI (Sei): As a platform focused on fast trading, SEI stands to benefit from increased stablecoin transactions. The growing popularity of stablecoins could enhance trading volumes, thus boosting demand for SEI's services.
SUI (Sui): With the development of this market, SUI, a new blockchain platform, may attract attention from investors and developers. If SUI can integrate stablecoins into its ecosystem, it will become an appealing option for new projects.
ORDI (Ordinals): If the stablecoin market flourishes, ORDI, which focuses on using Bitcoin for NFT applications, may see an increase in the adoption of digital assets. However, ORDI will need to adapt to new regulations and market demands.
Overall, the growth of the stablecoin market presents both opportunities and challenges for SEI, SUI, and ORDI, depending on each platform's ability to adapt to these changes.
