The current outlook for the stablecoin market could change dramatically, according to the COO of blockchain-based finance company Ondo.
said Justin Schmidt, COO of Ondo Finance. stablecoins that provide returns to investors He thinks it can displace today’s stablecoins.
Schmidt, “The market that yield-generating stablecoins can address in the future least “I think it will be as big as the market that stablecoins appeal to today.” said.
Ondo COO, holding an asset valued in dollars investors do this similar to traditional financial investors. that you can hold an asset that generates returns he thinks.
In the reserves of today’s stablecoins bonds were held Schmidt said that issuers should benefit from the returns provided by them. They did not share it with their investors, but bought it for themselves. he stated.
Schmidt, “If you hold USDC or USDT, someone else gets a return, not you. “In this case, you can also go and buy a dollar that generates a return, which is much more efficient in terms of your capital.” said.
Ondo Finance COO, one in OUSG and the other in USDY Two stablecoin projects that generate returns It supports.
OUSG created in March 2023 $113 million While reaching the value, USDY created in November 2023 $71 million reached the value.