#稳定币市场发展 Reflecting on the development history of the stablecoin market, I can't help but feel deeply emotional. From the earliest USDT to later USDC, DAI, and others, every step has been fraught with difficulties. Now seeing traditional financial giants like US banks beginning to test issuing customized stablecoins on the Stellar network, I am filled with a sense of admiration.

This reminds me of Facebook's Libra project launched in 2019, which caused quite a stir at the time. But it ultimately failed due to regulatory issues and other challenges, becoming a cautionary tale. In contrast, the US bank’s decision to collaborate with Stellar this time appears to be more cautious and pragmatic.

Historically, the development of stablecoins has always been accompanied by tightening regulations. The UST collapse in May 2022 sounded an alarm for the entire industry. Now, the entry of traditional financial institutions like US banks may indicate that the stablecoin market is entering a new phase of development.

However, we must also be vigilant about history repeating itself. Looking back, many people held overly optimistic expectations for Libra, only to see it end in disappointment. Therefore, regarding this attempt by US banks, we should stay attentive and avoid blind optimism. After all, in this industry, success and failure are often separated by just a fine line.