The Financial Accounting Standards Board (FASB) in the United States is brewing an accounting reform in 2026, with the core issue being the redefinition of stablecoins as "cash equivalents." It sounds like a mere terminological game, but in reality, this is a qualitative leap in asset classification.

Once this reform is implemented, the status of stablecoins on corporate financial statements will be equivalent to cash in USD. What does this mean? It means that the friction costs for companies holding stablecoins will be significantly reduced, and corporate treasuries can directly use stablecoins for liquidity management.

However, there are more complex accounting issues behind this. When companies cross-chain assets or lock them into smart contracts, should this money be considered "sold" or "collateralized" on the books? This is not just a logical question; it directly determines whether DeFi operations are reflected as "asset swaps" or "lending activities" in financial reports, thereby affecting a company's debt-to-asset ratio and tax planning.

Once accounting standards clarify these boundaries, DeFi protocols will have a universal financial interface to connect with traditional financial institutions. More broadly, the demand for compliant stablecoins could see exponential growth—enterprise-level funds will flow in on a large scale. Once the accounting treatment of "wrapped tokens" is standardized, cross-chain and staking DeFi operations can find legitimate positions in formal financial statements, greatly lowering the barriers for traditional financial institutions to integrate DeFi protocols.