#稳定币 Seeing traditional financial giants like EquiLend actively embracing the tokenization market, I feel a complex mix of emotions. I still remember the ICO wave in 2017 when Wall Street was mocking us early players. Now, the situation has reversed—they have to come to our turf proactively.

The logic behind this investment is quite clear. The $40 trillion asset pool entering the digital market makes stablecoins an essential bridge. Not because stablecoins are so great, but because they solve the most painful pain points of traditional finance: cross-system settlement efficiency. The clue is evident from EquiLend's announcement supporting "compliant stablecoins as collateral"—they are seeking an exit for their institutional clients.

Comparing this with data from Hong Kong is even more interesting. The asset size of tokenized money market funds grew by 557% year-over-year. This is not a small ripple; it’s a major trend confirming itself. In 2023, people were still debating whether "stablecoins have a future," but now even regulators are encouraging innovation while emphasizing risk warnings. This precisely indicates that the market is entering a stage of rational growth.

Those who have experienced several cycles understand that the entry of traditional financial giants usually signifies two things: first, that this track is truly profitable; second, that the old order is being restructured. The process of stablecoins growing from wild growth to being incorporated into a compliant framework is like watching a slow power transfer. Projects that only want to hype concepts will be eliminated, but infrastructure that truly solves practical problems will become increasingly valuable.