PANews reported on September 14 that according to Cointelegraph, Mert Mumtaz, CEO of RPC node provider Helius, said that as exchanges abstract different priced stablecoins on the back end and only provide users with "dollar" options, stablecoins pegged to the US dollar will eventually lose their price codes. Mumtaz said that the bidding war for Hyperliquid's US dollar stablecoin (USDH), and the proposals of multiple companies to pledge 100% of their profits to Hyperliquid, show that the stablecoin industry has become "commoditized." It is expected that many companies will issue their own stablecoins in the future, and many existing stablecoin issuers will also build their own payment chains, which may lead to liquidity fragmentation. The best solution to this liquidity problem is for exchanges to accept all stablecoins directly and convert them to the required denomination on the back end without users having to see what is happening. "The end result is that you can't see the code at all. The application will just show "USD" instead of USDC, USDT or USDX, and they will convert all currencies on the back end through a standardized interface."PANews reported on September 14 that according to Cointelegraph, Mert Mumtaz, CEO of RPC node provider Helius, said that as exchanges abstract different priced stablecoins on the back end and only provide users with "dollar" options, stablecoins pegged to the US dollar will eventually lose their price codes. Mumtaz said that the bidding war for Hyperliquid's US dollar stablecoin (USDH), and the proposals of multiple companies to pledge 100% of their profits to Hyperliquid, show that the stablecoin industry has become "commoditized." It is expected that many companies will issue their own stablecoins in the future, and many existing stablecoin issuers will also build their own payment chains, which may lead to liquidity fragmentation. The best solution to this liquidity problem is for exchanges to accept all stablecoins directly and convert them to the required denomination on the back end without users having to see what is happening. "The end result is that you can't see the code at all. The application will just show "USD" instead of USDC, USDT or USDX, and they will convert all currencies on the back end through a standardized interface."
Web3 executives: The “end” of the US dollar stablecoin may be no code, and the front end will only display USD
PANews reported on September 14 that according to Cointelegraph, Mert Mumtaz, CEO of RPC node provider Helius, said that as exchanges abstract different priced stablecoins on the back end and only provide users with "dollar" options, stablecoins pegged to the US dollar will eventually lose their price codes.
Mumtaz said that the bidding war for Hyperliquid's US dollar stablecoin (USDH), and the proposals of multiple companies to pledge 100% of their profits to Hyperliquid, show that the stablecoin industry has become "commoditized." It is expected that many companies will issue their own stablecoins in the future, and many existing stablecoin issuers will also build their own payment chains, which may lead to liquidity fragmentation. The best solution to this liquidity problem is for exchanges to accept all stablecoins directly and convert them to the required denomination on the back end without users having to see what is happening. "The end result is that you can't see the code at all. The application will just show "USD" instead of USDC, USDT or USDX, and they will convert all currencies on the back end through a standardized interface."
Disclaimer: The articles reposted on this site are sourced from public platforms and are provided for informational purposes only. They do not necessarily reflect the views of MEXC. All rights remain with the original authors. If you believe any content infringes on third-party rights, please contact service@support.mexc.com for removal. MEXC makes no guarantees regarding the accuracy, completeness, or timeliness of the content and is not responsible for any actions taken based on the information provided. The content does not constitute financial, legal, or other professional advice, nor should it be considered a recommendation or endorsement by MEXC.
You May Also Like
The Channel Factories We’ve Been Waiting For
The post The Channel Factories We’ve Been Waiting For appeared on BitcoinEthereumNews.com. Visions of future technology are often prescient about the broad strokes while flubbing the details. The tablets in “2001: A Space Odyssey” do indeed look like iPads, but you never see the astronauts paying for subscriptions or wasting hours on Candy Crush. Channel factories are one vision that arose early in the history of the Lightning Network to address some challenges that Lightning has faced from the beginning. Despite having grown to become Bitcoin’s most successful layer-2 scaling solution, with instant and low-fee payments, Lightning’s scale is limited by its reliance on payment channels. Although Lightning shifts most transactions off-chain, each payment channel still requires an on-chain transaction to open and (usually) another to close. As adoption grows, pressure on the blockchain grows with it. The need for a more scalable approach to managing channels is clear. Channel factories were supposed to meet this need, but where are they? In 2025, subnetworks are emerging that revive the impetus of channel factories with some new details that vastly increase their potential. They are natively interoperable with Lightning and achieve greater scale by allowing a group of participants to open a shared multisig UTXO and create multiple bilateral channels, which reduces the number of on-chain transactions and improves capital efficiency. Achieving greater scale by reducing complexity, Ark and Spark perform the same function as traditional channel factories with new designs and additional capabilities based on shared UTXOs. Channel Factories 101 Channel factories have been around since the inception of Lightning. A factory is a multiparty contract where multiple users (not just two, as in a Dryja-Poon channel) cooperatively lock funds in a single multisig UTXO. They can open, close and update channels off-chain without updating the blockchain for each operation. Only when participants leave or the factory dissolves is an on-chain transaction…
Share
BitcoinEthereumNews2025/09/18 00:09
Waarom BTC niet stijgt: OG holders verkopen massaal call opties
De koers van Bitcoin blijft steken, en volgens Jeff Park van Bitwise Alpha is daar een duidelijke reden voor: de oude garde van Bitcoin bezitters blijft massaal
Share
Coinstats2025/12/15 02:50
Investors grill AI infrastructure and chip stocks, betting on correction ahead
The post Investors grill AI infrastructure and chip stocks, betting on correction ahead appeared on BitcoinEthereumNews.com. Investors are pushing back hard on
Share
BitcoinEthereumNews2025/12/15 02:46