Crypto Exec Says Expect Tickerless US dollar Stablecoins in the Future
Dollar-pegged stablecoins will eventually lose their price tickers, as exchanges abstract away the differently denominated stable tokens on the backend, presenting only a “USD” option to the user, according to Mert Mumtaz, CEO of remote procedure call (RPC) node provider Helius.
The bidding war for the Hyperliquid USD stablecoin (USDH), and proposals from several firms promising to give 100% of the yield back to Hyperliquid, revealed that the stablecoin sector has become “commoditized,” Mumtaz said.
Mumtaz added that he expects many companies to issue their own stablecoins and many existing stablecoin issuers to start their own payment chains in the future, which may create liquidity fragmentation, keeping capital trapped…
