“Fortune” magazine reported that Tether is expected to achieve a net profit of over $10 billion by the end of this year, “stimulating” many banks around the world to join the Stable Coin market and get a share of the pie, including:
- Societe Generale-Forge, a subsidiary of Societe Generale Bank in France, has launched a Euro-backed Stablecoin.
- Oddo BHF SCA is also developing a Stable Coin denominated in euros;
- London Revolut is considering issuing its own Stable Coin;
- DWS, a subsidiary of Deutsche Bank, plans to launch a stablecoin next year.
- BBVA also plans to enter the Stable Coin market and has partnered with Visa to launch a tokenized network for banks to issue Stable Coins, which will be piloted in 2025;
- Standard Chartered Bank, Animoca Brands, and Hong Kong Telecom have been selected by the Hong Kong Monetary Authority as one of the first banks to issue Hong Kong dollar stablecoins in the pilot project.
Disclaimer: The information on this page may come from third parties and does not represent the views or opinions of Gate. The content displayed on this page is for reference only and does not constitute any financial, investment, or legal advice. Gate does not guarantee the accuracy or completeness of the information and shall not be liable for any losses arising from the use of this information. Virtual asset investments carry high risks and are subject to significant price volatility. You may lose all of your invested principal. Please fully understand the relevant risks and make prudent decisions based on your own financial situation and risk tolerance. For details, please refer to
Disclaimer.
