US dollar to face growing competition for stablecoin dominance: Tether co-founder

Tether co-founder Reeve Collins told Cointelegraph that Trump’s involvement in stablecoins paves the way for the rest of the world to adopt the asset class.

While United States dollar-denominated stablecoins dominate the stablecoin and real-world asset (RWA) tokenization game, other competitors are coming into play, according to Tether co-founder Reeve Collins. 

Speaking to Cointelegraph in Dubai, Collins said that while USD-backed stablecoins may currently dominate, other currencies and assets may compete to back stablecoins. He said: 

Collins said that these other assets used to back stablecoins may compete with US dollars by bringing a higher yield to users. 

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