Tether co-founder is developing a yield-bearing stablecoin project called Pi Protocol, which is expected to launch as early as the second half of this year

ChainCatcher news, according to Bloomberg, Reeve Collins, one of the original co-founders of Tether, is launching a yield-bearing stablecoin project called Pi Protocol, which will provide holders with potential earnings from tokenized real-world assets.

Currently, Collins serves as the chairman and co-founder of Pi Protocol. This decentralized project is expected to launch on the Ethereum and Solana blockchains later this year or earlier. Specific financial terms have not been disclosed.

It is reported that Collins co-founded the predecessor of Tether with Brock Pierce and Craig Sellars, and served as Tether's first CEO from 2013 to 2015.