The role of stablecoins and RWAs in DeFi: HTX Ventures report
The 2024 US presidential election is expected to significantly influence crypto regulation, creating opportunities for decentralized finance (DeFi) and its integration with traditional finance. A proposed stablecoin bill by the US House Financial Services Committee aims to establish comprehensive regulations for stablecoin issuance and oversight, potentially facilitating mainstream adoption. Stablecoins currently account for over 50% of blockchain transactions, enhancing cross-border payments. Traditional finance (TradFi) is increasingly collaborating with the crypto sector, exemplified by Ripple's RLUSD and Stripe's acquisition of Bridge. Real-World Assets (RWAs) have seen a 60% increase in onchain value, reaching $15 billion, driven by their stable yields. BlackRock's tokenized US Treasury fund, BUILD, and Ethena's yield-bearing stablecoin USDe highlight the growing intersection of RWAs and DeFi. Ethena's USDtb, backed by BlackRock's fund, aims to enhance stability during market fluctuations.
