美國主要銀行探索了一項聯合穩定企業，以與繫繩競爭

據報導，美國銀行，花旗集團和富國銀行的摩根大通（JPMorgan Chase）正在探索一項聯合穩定企業，直接與加密貨幣行業在數字支付中的統治地位直接競爭。

Major U.S. banks are reportedly discussing a joint stablecoin venture, aiming to compete in the digital payments space with a new offering.

據報導，美國主要銀行正在討論一家聯合穩定企業，旨在通過新產品在數字支付領域進行競爭。

According to a report by The Wall Street Journal, the initiative is still in the early stages of discussion. It involves JPMorgan Chase & Co, Bank of America Corp, Citigroup Inc, Wells Fargo & Co, and other banking giants.

根據《華爾街日報》的一份報告，該計劃仍處於討論的早期階段。它涉及摩根大通公司，美國銀行公司，花旗集團，富國銀行和其他銀行業巨頭。

These discussions are also taking place through co-owned payment companies, including Early Warning Services LLC, which operates the Zelle network, and The Clearing House.

這些討論也通過共同擁有的支付公司進行，包括經營Zelle網絡和交換所的預警服務有限責任公司。

Those discussions hinge on forthcoming stablecoin legislation that could help form frameworks for banks and non-banks to issue stablecoins.

這些討論取決於即將到來的Stablecoin立法，可以幫助為銀行和非銀行簽發穩定的框架。

Stablecoins are digital currencies typically pegged to the U.S. dollar or other fiat currencies and, in recent years, are increasingly being backed by Treasurys.

Stablecoins是數字貨幣通常與美元或其他法定貨幣固定的數字貨幣，近年來，越來越多地得到財政部的支持。

While some see them as "destabilizing” to economic and fiscal policy, “individuals and businesses see a tremendous benefit,” Pedro Lapenta, head of research at Hashdex Asset Management, told Decrypt.

Hashdex Asset Management研究負責人Pedro Lapenta告訴Decrypt，雖然有些人認為他們對經濟和財政政策“不穩定”，但“個人和企業都會看到巨大的好處”。

And the timing couldn't be more apt.

而且時機再好不過了。

This week, the Senate moved forward with the GENIUS Act, a bipartisan bill that aims to regulate payment stablecoins by setting federal reserve standards, transparency, and issuer oversight.

本週，參議院以《天才法》（Genius Act）向前發展，這是一項兩黨法案，旨在通過設定美聯儲標準，透明度和發行人的監督來規範支付穩定的法案。

If the act becomes law, stablecoins could "accelerate the adoption of digital assets" in general and strengthen "the investment case for Bitcoin and other crypto," Lapenta said.

Lapenta說，如果該法案成為法律，Stablecoins可能會“加速使用數字資產”，並加強“比特幣和其他加密貨幣的投資案例”。

But it isn't really about the investor. Banks see the changing regulatory landscape as a possible green light to begin exploring ways to challenge the dominance of Circle and Tether's stranglehold over the $245 billion stablecoin market.

但這並不是關於投資者的。銀行將不斷變化的監管格局視為可能開始探索挑戰Circle和Tether扼殺在2450億美元的Stablecoin市場的統治地位的方法的可能的綠燈。

Circle, a U.S.-regulated issuer, initially launched its USDC stablecoin in 2018 alongside Coinbase through the Centre Consortium, in a bid to offer an alternative to Tether's market-leading USDT, which debuted in 2014 on the Bitcoin-based Omni Layer.

由美國監管的發行人Circle最初於2018年與Coinbase一起通過Center Center Consortium推出了USDC Stablecoin，以提供替代Tether的市場領先USDT的替代品，該公司於2014年在基於比特幣的Omni層上首次亮相。

Tether has maintained a dominant position in the stablecoin sector despite years of scrutiny over the transparency of its reserves.

儘管對儲備的透明度進行了多年的審查，但Tether在Stablecoin部門仍然保持了主導地位。

Since 2022, the stablecoin issuer has released quarterly attestations, in a bid to assuage concerns. It now accounts for more than 60% of the market.

自2022年以來，Stablecoin發行人已經發布了季度證明，以解決問題。現在，它佔市場的60％以上。

Circle, on the other hand, has sought to differentiate USDC by positioning it as a more compliant product, citing third-party attestations and closer regulatory engagement in the U.S.

另一方面，Circle試圖通過將USDC定位為更合規的產品來區分USDC，並以第三方證明並在美國進行更緊密的監管參與

But it, too, has had its own set of problems, including a temporary depegging of USDC in 2023 following the collapse of Silicon Valley Bank, stalled plans to go public via a SPAC deal in 2022, and declining market share.

但是，它也有自己的一系列問題，包括在矽谷銀行倒閉後的2023年暫時對USDC進行暫時的問題，停滯了計劃通過2022年通過SPAC交易公開的計劃，並下降了市場份額。

The entry of major global financial firms may soon test the staying power of both incumbents and chip away at their dominance.

全球主要金融公司的進入可能很快就會測試現任者的持久力，並以其統治地位消失。

Hong Yea, co-founder and CEO of GRVT, a licensed on-chain exchange, told Decrypt crypto-native issuers still have a critical role to play as traditional finance builds new infrastructure.

獲得許可的鏈上交易所GRVT的聯合創始人兼首席執行官Hong Yey告訴解密加密本地發行人，隨著傳統金融建立新的基礎設施，加密本地發行人仍然具有至關重要的作用。

“Crypto-native stablecoin issuers get an intrinsic grasp of how the blockchainized world functions,” Yea said. “Their years of experience, knowledge, and trials would be invaluable for the construction of institutional-grade stablecoin infrastructure.”

Yea說：“加密本地的Stablecoin發行人對區塊鏈世界的運作方式進行了內在的掌握。” “他們多年的經驗，知識和考驗對於建設機構穩定基礎設施將是無價的。”

He likened the dynamic to traditional industries relying on digital consultants during early transformation efforts.

在早期轉型工作期間，他將動態與依靠數字顧問的傳統行業相提並論。

“The traditional financial world’s navigation into the on-chain economy could have some help too from the natives,” he said.

他說：“傳統金融界向鏈上經濟的導航也可能會給當地人提供一些幫助。”

Yea added that if legacy players are to seriously engage with the stablecoin sector, crypto issuers must also step up their alignment with regulatory norms.

是的，如果傳統參與者要認真與Stablecoin行業互動，那麼加密發行人也必須加強與監管規範的一致性。

“I’d advocate for industry leaders to adopt a more proactive fashion with regulations and compliance,” he said. “Without hand-in-hand efforts from both sides, it’s going to be hard for the pie to grow as a whole.”

他說：“我倡導行業領導者採用法規和遵守規定的更加主動的方式。” “如果沒有雙方的手努力，那麼餡餅整體就很難成長。”

For now, the discussion among banks remains in its infancy and could change at any time, per the report.

目前，根據報告，銀行之間的討論仍處於起步階段，並且可能隨時改變。

Tether and Circle did not immediately respond to requests for comment.

Tether和Circle沒有立即回應置評請求。

सीमित समय के लिए, इस अनन्य इंटरव्यू में, Hashdex के रिसर्च हेड पेड्रो लापेंटा ने बताया कि बिटकॉइन की कीमत में गिरावट से इंटरव्यू में सबसे महत्वपूर्ण बात यह है कि यह आर्थिक और राजकोषीय नीति पर भी अत्यधिक दबाव डाल रहा है, जिससे और भी गिरावट आ सकती है।

在有限的時間裡，在這次獨家採訪中，Hashdex的研究負責人Pedro Lapanta表示，比特幣價格下跌的最重要的是，它還對經濟和財政政策施加了過大壓力，這可能會導致進一步下降。

"अगर हम इस परिप्रेक्ष्य में BTC की कीमत में गिरावट को देखते हैं, तो यह समझ में आता है कि ट्रेजरी बिलों की पैदावार में वृद्धि जारी है, और इस प्रकार, यह अपेक्षाकृत अधिक आकर्षक हो रहा है, जिससे बिटकॉ

“如果我們從這個角度看BTC價格的下跌，那麼可以理解的是，財政賬單的收益率繼續增加，因此，它變得越來越有吸引力，因此Bitko變得越來越有吸引力