《Fortune》: Tether's High Profits Drive Global Banks to Join the Stablecoin Market

BlockBeats News, December 29th, according to Fortune magazine, Tether is expected to achieve a net profit of over 10 billion U.S. dollars by the end of this year, "stimulating" multiple global banks to join the stablecoin market and get a piece of the pie, including:

1. Societe Generale-Forge, a subsidiary of France's Societe Generale, launched a Euro-backed stablecoin;

2. Oddo BHF SCA is also developing a Euro-denominated stablecoin;

3. London-based Revolut is considering issuing its own stablecoin;

4. DWS, a subsidiary of Deutsche Bank, plans to launch a stablecoin next year;

5. BBVA also plans to enter the stablecoin market, has partnered with Visa to launch a tokenized network for banks to issue stablecoins, and will pilot it in 2025;

6. Standard Chartered Bank, Animoca Brands, and Hong Kong Telecom have been selected by the Hong Kong Monetary Authority as one of the first banks to issue a Hong Kong Dollar-backed stablecoin in an experimental project.