美国主要银行探索了一项联合稳定企业，以与系绳竞争

据报道，美国银行，花旗集团和富国银行的摩根大通（JPMorgan Chase）正在探索一项联合稳定企业，直接与加密货币行业在数字支付中的统治地位直接竞争。

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

据报道，美国主要银行正在讨论一家联合稳定企业，旨在通过新产品在数字支付领域进行竞争。

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.

根据《华尔街日报》的一份报告，该计划仍处于讨论的早期阶段。它涉及摩根大通公司，美国银行公司，花旗集团，富国银行和其他银行业巨头。

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.

这些讨论也通过共同拥有的支付公司进行，包括经营Zelle网络和交换所的预警服务有限责任公司。

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

这些讨论取决于即将到来的Stablecoin立法，可以帮助为银行和非银行签发稳定的框架。

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是数字货币通常与美元或其他法定货币固定的数字货币，近年来，越来越多地得到财政部的支持。

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研究负责人Pedro Lapenta告诉Decrypt，虽然有些人认为他们对经济和财政政策“不稳定”，但“个人和企业都会看到巨大的好处”。

And the timing couldn't be more apt.

而且时机再好不过了。

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.

本周，参议院以《天才法》（Genius Act）向前发展，这是一项两党法案，旨在通过设定美联储标准，透明度和发行人的监督来规范支付稳定的法案。

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说，如果该法案成为法律，Stablecoins可能会“加速使用数字资产”，并加强“比特币和其他加密货币的投资案例”。

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.

但这并不是关于投资者的。银行将不断变化的监管格局视为可能开始探索挑战Circle和Tether扼杀在2450亿美元的Stablecoin市场的统治地位的方法的可能的绿灯。

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.

由美国监管的发行人Circle最初于2018年与Coinbase一起通过Center Center Consortium推出了USDC Stablecoin，以提供替代Tether的市场领先USDT的替代品，该公司于2014年在基于比特币的Omni层上首次亮相。

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

尽管对储备的透明度进行了多年的审查，但Tether在Stablecoin部门仍然保持了主导地位。

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年以来，Stablecoin发行人已经发布了季度证明，以解决问题。现在，它占市场的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试图通过将USDC定位为更合规的产品来区分USDC，并以第三方证明并在美国进行更紧密的监管参与

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问题，包括在硅谷银行倒闭后的2023年暂时对USDC进行暂时的问题，停滞了计划通过2022年通过SPAC交易公开的计划，并下降了市场份额。

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进入可能很快就会测试现任者的持久力，并以其统治地位消失。

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.

获得许可的链上交易所GRVT的联合创始人兼首席执行官Hong Yey告诉解密加密本地发行人，随着传统金融建立新的基础设施，加密本地发行人仍然具有至关重要的作用。

“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说：“加密本地的Stablecoin发行人对区块链世界的运作方式进行了内在的掌握。” “他们多年的经验，知识和考验对于建设机构稳定基础设施将是无价的。”

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

在早期转型工作期间，他将动态与依靠数字顾问的传统行业相提并论。

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

他说：“传统金融界向链上经济的导航也可能会给当地人提供一些帮助。”

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，如果传统参与者要认真与Stablecoin行业互动，那么加密发行人也必须加强与监管规范的一致性。

“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.”

他说：“我倡导行业领导者采用法规和遵守规定的更加主动的方式。” “如果没有双方的手努力，那么馅饼整体就很难成长。”

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

目前，根据报告，银行之间的讨论仍处于起步阶段，并且可能随时改变。

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

Tether和Circle没有立即回应置评请求。

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।

在有限的时间里，在这次独家采访中，Hashdex的研究负责人Pedro Lapanta表示，比特币价格下跌的最重要的是，它还对经济和财政政策施加了过大压力，这可能会导致进一步下降。

"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

“如果我们从这个角度看BTC价格的下跌，那么可以理解的是，财政账单的收益率继续增加，因此，它变得越来越有吸引力，因此Bitko变得越来越有吸引力