#稳定币 I have seen too many cycles of ups and downs, and recently this shift in narrative has given me some reflections. I still remember the 2017 cycle, when everyone’s eyes were only on price charts and trading volume; stablecoins back then were hardly considered anything significant. Today’s payment scale exceeds 9 trillion USD—what does this number tell us? It essentially marks the boundary between a gambler’s game and the development of financial infrastructure.

WeFi’s Sakharov is right; the real turning point isn’t when retail investors enter, but when CFOs and risk management teams give the nod. I’ve witnessed too many projects die waiting for compliance. Now, with Basel Committee re-evaluating digital asset capital requirements, the GENIUS Act, and the MiCA framework becoming clearer, these seemingly dull regulatory details are actually opening the door for financial institutions to bring compliance on-chain.

JPMorgan is already settling on Solana, Goldman Sachs and New York Mellon are running tokenized funds, and BlackRock’s BUIDL is underway—this isn’t just a proof of concept; it’s real deployment. Tokenization isn’t about overturning anything; it’s about reducing T+3 settlement times to minutes, cutting costs dramatically, and opening channels for global capital flows.

From the perspective of a 2 trillion USD stablecoin market cap, it’s no longer just a fringe in crypto but a test for financial stability. Regulatory attitudes have shifted from blocking to standardizing, fundamentally acknowledging that this space has become too big and important to ignore. It’s an inevitable historical trend, just like electronic trading once disrupted on-site trading.