Tether co-founder Reeve Collins stated that while USD-backed stablecoins currently dominate the market, other currencies and assets, particularly those offering higher yields, may soon compete for stability. Speaking in Dubai, he noted the potential for backing stablecoins with various assets, including money-market funds and tokenized physical assets, which could surpass traditional dollar backing. Collins pointed out that the launch of a Trump-backed stablecoin signifies a growing acceptance of stablecoins worldwide, suggesting that institutions, governments, and fintech companies will increasingly engage with this asset class. By facilitating better returns for users, Collins believes alternative backing for stablecoins will attract more participation in the market.

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