Written by: Zuo Ye
Top alpha players are adept at both politics and business, like Trump, or Justin Sun and Gabriel Abed, the current Binance.com Chairman, who even more remarkably was previously the Barbadian Ambassador to the UAE.
You might wonder how a Barbadian ambassador studying in North America became the chairman of Binance. This shows that one should consider personal struggle and keep up with the historical process.
Image description: Stable investor Gabriel Abed, image source: @zuoyeweb3
Before today, USDT was equivalent to half of TRC-20 USDT, with Justin Sun providing USDT circulation channels, supporting the business empire centered on $TRX. However, the emergence of Stablechain has created cracks in this empire.
Stablechain is a payment-specific L1 issued by Stable, using USDT as Gas Token, directly supported by Tether. Introducing Gabriel Abed and launching a chain can be seen as Tether exploring outward, pointing towards the institutional market.
This is directly related to the current market competition. Aside from USD1, a pure Trump concept coin, competitors like USDC/USDe are all targeting institutional settlement markets. Not to mention USDG supported by Paxos and Kraken, and even BUSD planning a resurrection.
Stablecoins Moving Towards Enterprises
Doing C-end user market is almost equivalent to dealing with gray markets.
In the C-end user market, Justin Sun has provided the most successful business strategy so far - not by making TRON the issuance network for USDT, but by finding specific groups with real-world demand for stablecoins. The binding relationship between TRX and USDT has also made TRON the blockchain with the most real users after Ethereum.
However, under the institutional adoption wave of Stablechain, CPN, and Converge, it's uncertain whether Justin Sun can come up with new ideas. Focusing solely on the Trump family is not enough, as he has at most four years, while business is a lifelong endeavor.
Currently, U cards and interest-bearing battlefields are in full swing, with YBSBarker continuously following up. B-end enterprises are far from ordinary users, but here lies the opportunity for the next Circle or Stripe. (Recently, friends consulting me about stablecoins have grown exponentially, with countless projects of all sizes, everyone claiming to be the next Stripe, indicating the fierce market competition.)
In the B-end market, pure compliance can bring huge incremental growth and is more suitable for entrepreneurs to come ashore. As stablecoins begin to converge, let's roll up our sleeves!
Image description: USDC/USDT/USDe comparison, image source: @zuoyeweb3
USDT-->USDT0 (LayerZero)-->Stablechain
USDe-->USDtb-->Converge
USDC-->CCTP (Wormhole)-->CPN (Circle Payment Network)
The current market landscape, stablecoins --> on-chain cross-chain --> off-chain institutions, is the basic form, with business expansion methods divided into three main lines: compliance, cross-chain, and institutional.
[The translation continues in the same manner for the rest of the text, maintaining the specific translations for technical terms and names as specified.]Currently, Stablechain does not seem to have much to do with Justin Sun, and we hope he can still pull through this time.
