The accounting reform initiated by the Financial Accounting Standards Board (FASB) in the United States, set to launch in 2026, is advancing a key resolution: classifying compliant stablecoins as "cash equivalents." This is not just a name change but a fundamental shift in asset attributes.

Once this rule is officially adopted, stablecoins will be recognized on corporate financial statements with the same status as US dollar cash. What does this mean? Significantly reduced friction costs for holdings, allowing corporate treasuries to directly use stablecoins for liquidity management—an opportunity that was previously inaccessible.

However, the real challenge lies in the gray area of accounting: when corporate assets cross-chain into smart contracts, is this money "sold" or "collateralized" on the books? While it appears to be a technical issue, it actually directly impacts how DeFi operations are characterized in traditional financial statements—whether as "asset swaps" or "lending activities"—which in turn affects debt ratios and tax planning.

Once accounting standards clarify these details, there will be a standardized way to handle "wrapped tokens." Cross-chain and staking operations in DeFi can be properly reflected in formal financial reports, making DeFi protocols easier for traditional financial institutions to accept and integrate.

A more realistic expectation is that if the rules are adopted, the demand for compliant stablecoins will experience exponential growth. The scale of corporate treasury funds entering the market could far exceed current expectations. This will not only promote the prosperity of the stablecoin ecosystem but also accelerate the integration of DeFi with traditional finance—potentially marking the transition from wild growth to institutionalization.