CZ: The stablecoin industry is just getting started, and FDUSD and USD1 belong to the 1.5 generation of stablecoins

BlockBeats News, December 18, Binance founder CZ said in an end-of-year Q&A event:

「There is competition in the stablecoin field, but I think this is a good thing for the entire industry, especially for a brand new field. Yes, the market space is huge, and I think what we are seeing now is just stablecoin 1.0. Further stablecoins (perhaps referring to stablecoins with higher yields or more complex functionalities) have not yet been widely introduced, and we are just getting started.

The current largest stablecoins (such as USDT, USDC) do not offer much yield. What we see now are stablecoins of version 1.5, such as FDUSD and USD1. Due to the high frictional cost of fiat channels, FDUSD's growth is limited; while USD1 has a solid foundation in the U.S., with relevant project announcements made today, I think it has considerable potential.」