Use Cases

Market Landscape

Stablecoins have emerged as one of crypto’s most critical use cases, fundamentally reshaping global finance. With a current supply exceeding $225 billion, stablecoins provide 24/7, near-instant, composable, and programmable money that is far more efficient than legacy financial systems. Their inherent advantages—global accessibility, reduced settlement times, and seamless programmability—position them as the future of global finance.

Stablecoins now account for approximately 1.08% of the USD M2 money supply. As regulatory frameworks evolve and support for digital assets strengthens, it is only a matter of time before stablecoin supply reaches the trillions. This represents a unique opportunity not only for crypto but also for the broader financial industry.

Despite their growing importance, no general-purpose blockchain is currently equipped to handle the unique demands of stablecoins. Traditional blockchains were designed long before stablecoins existed, and as a result, they face significant challenges such as high transaction fees, centralization issues, high transaction failure rates, and a lack of specialized features that stablecoins require. These challenges are limiting the rate of stablecoin adoption.

Historically, stablecoins were primarily used as instruments to facilitate easier trading against Bitcoin on exchanges—serving as tools for crypto-to-crypto trading pairs. Over time, two additional primary use cases have emerged: yield rehypothecation and settlement. Today, a significant portion of stablecoin supply is concentrated on just two chains: Ethereum, with roughly $132 billion, and Tron, with approximately $63 billion. Ethereum has become the leading blockchain for yield generation, while Tron has positioned itself as the dominant settlement layer. However, both blockchains have inherent shortcomings: Ethereum struggles with high fees, and Tron faces both high fees and extreme centralization. Moreover, neither was originally designed with stablecoins in mind, nor do they include specialized features tailored to their unique requirements.

Purpose-built Blockchain for Stablecoins

Our primary focus is on capturing the market for stablecoin yield and global settlement. By building a blockchain from the ground up that is optimized for stablecoins, we aim to provide a platform that not only supports but enhances these use cases and addresses the challenges present in general-purpose blockchains. This requires solving unique technical challenges—such as throughput, latency, and specialized feature development—as well as achieving deep integrations with stablecoin issuers, onramp providers, liquidity providers, banking-as-a-service platforms, DeFi applications, fintechs, and other financial institutions. We believe this represents not only the largest opportunity in crypto but also one of the most significant opportunities in the world—a focus we are committed to pursuing over the next decade.