TOKEN2049 Roundtable: Diversified Stablecoin Competition Becomes the Norm, More Institutions Will Adopt Next Year
ChainCatcher live report, Messari CEO Eric Turner, along with Bullish head Chris Tyrer, B2C2 Asia Pacific CEO David Rogers, BitGo co-founder and CEO Mike Belshe, and Bitwise asset management research director Ryan Rasmussen, attended the TOKEN 2049 conference and engaged in an in-depth discussion on hot topics such as cryptocurrency regulatory frameworks, stablecoins, and future market trends at the roundtable titled "Taking the Temperature of the Institutional Crypto Space."
The guests pointed out that although the cryptocurrency market currently has a relatively clear regulatory framework, there are still differences among countries in advancing regulation. They specifically mentioned that the European Union has partially implemented relevant frameworks, while the United States faces uncertainties due to elections and other factors. Tyrer further explored the application of stablecoins at the institutional level, emphasizing their important role in capital circulation, and questioned whether the stablecoin industry has fully accepted this role positioning.
Rogers and Belshe expressed their views on the pros and cons of stablecoins and the key factors for future winners, stating, "Stablecoins are like networks. Just as people do not use only one bank but rather multiple banks using the same channels, there is competition among stablecoins." They believe that the stablecoin market will maintain a diversified competitive landscape rather than a single monopoly, while also emphasizing the impact of global regulatory differences on product design and market access. Belshe also noted that despite the significant volatility the cryptocurrency market has experienced in recent years, it is gradually maturing and is expected to attract more institutional investors in the future.
Additionally, the guests analyzed the current market's stability and future potential from a research perspective, pointing out that as interest rates decline and competition in the credit market intensifies, cryptocurrencies as a non-correlated asset will attract more investors seeking high returns. Regarding the outlook for 2025, the guests stated, "We will see more companies and pension funds allocating funds to cryptocurrencies, and publicly listed crypto security companies will also emerge," specifically mentioning companies like MicroStrategy incorporating Bitcoin into their balance sheets and predicting that more publicly listed companies will follow suit, integrating cryptocurrencies into their financial planning, thereby further maturing the market.
