Stablecoins

Bulls see the trust charter as a genuine institutional milestone: USD1 issuance moving from BitGo to a federally chartered national trust bank gives the stablecoin a form of banking-system legitimacy few competitors have secured. A national trust structure could lower counterparty risk relative to offshore or unregulated issuers, and confirmation from multiple outlets that the OCC granted preliminary conditional approval suggests regulators are willing to bless bank-chartered stablecoin models. That precedent could encourage other issuers to pursue similar charters, expanding regulated onchain-dollar supply over time.

Bulls argue that securing a first-ever audit from a major accounting firm meaningfully addresses years of transparency criticism and should reduce systemic risk perceptions around the world's largest stablecoin, which underpins enormous onchain-dollar liquidity across crypto markets. Passing this audit, even without full public disclosure, gives institutional counterparties and regulators new evidence of reserve backing, potentially smoothing Tether's path toward deeper integration with traditional finance and reinforcing confidence in stablecoins broadly.

Bulls point out RedotPay already secured a U.S. money transmitter license even as its billion-dollar IPO plan is paused, meaning core regulatory groundwork needed to operate is in place regardless of listing timing. A stablecoin payments company pausing an IPO doesn't necessarily signal doubts about the underlying business, since companies routinely wait out unfavorable listing windows or unresolved legal matters before going public. Holding a functioning license while working through regulatory and legal hurdles suggests the platform can keep operating and growing even without near-term public-market capital.

Bulls argue a major global bank like Standard Chartered backing a regulated, licensed Hong Kong dollar stablecoin with established local exchanges as distributors is exactly the kind of bank-grade rail that proves stablecoins can become mainstream settlement infrastructure beyond the US dollar. Expanding institutional access through regulated venues shows Asian banks and regulators moving in step with the onchain-currency thesis, potentially creating a template other regional currencies could follow onto public blockchain rails in the coming years.

Bulls see a major global bank like Standard Chartered backing a regulated Hong Kong dollar stablecoin, distributed through established exchanges, as proof that onchain dollar-equivalent instruments are expanding beyond the US dollar with real institutional backing. Regulated, bank-sponsored stablecoins in a hub like Hong Kong could accelerate settlement use cases across Asia and validate stablecoins as core payments infrastructure rather than a purely US-dollar phenomenon.

Bulls argue that a major economy's central bank formally endorsing regulated trading for Bitcoin, Ethereum and a top stablecoin marks a meaningful institutional signal, moving these assets out of legal ambiguity within a large domestic market. Applying a liquidity bar that only the most established assets clear suggests a deliberate, market-stability-focused approach rather than blanket approval, and supporters see this as a template that could encourage other jurisdictions to formalize similar regulated crypto trading frameworks over time.

Bulls argue that extending MoneyGram's cash network beyond its original Stellar integration to Solana signals growing confidence in Solana as a practical settlement layer for real-world money movement, not just speculative trading. Having Rift as the first integrated wallet gives Solana users a direct bridge between digital assets and local currency through an established global payments network, and further wallet integrations could follow, expanding practical, non-speculative use cases for the chain over time.

Bulls would point to Tron's record $87.9 billion stablecoin supply and $2.1 trillion in quarterly transfers as evidence it has become one of the most important pieces of dollar-denominated settlement infrastructure in crypto, rivaling networks with far more developer attention. That scale of throughput suggests real transactional demand for stablecoins on low-cost rails rather than pure speculation, and could keep drawing exchanges, remittance flows and payment apps toward Tron even as newer chains compete for headlines and venture funding.