Tether, Tokenization Pioneers Unveil Startup Focused on GENIUS-Aligned Digital Dollars

Core Viewpoint - The emergence of STBL represents a significant innovation in the stablecoin market, allowing for the separation of principal and yield in tokenized assets, akin to traditional finance's zero-coupon strip structures [1][2][3] Group 1: Product Overview - STBL converts digital assets into a dollar-pegged stablecoin and a yield-bearing NFT, enabling investors to hold or sell components based on their risk preferences [2] - The product is currently in beta testing and aims to enhance the stablecoin issuance model by allowing depositors to retain returns on their tokenized assets, unlike traditional stablecoin issuers [3][4] Group 2: Market Positioning - STBL's mission is to transform stablecoins from corporate products into public infrastructure, emphasizing that minters, rather than issuers, will retain the value of reserves, marking a shift towards "Stablecoin 2.0" [4][5] - The design aims to comply with regulatory frameworks, such as the U.S. GENIUS Act, by separating principal from yield, thus maintaining a non-security status [5] Group 3: User Interaction - Users who deposit yield-bearing assets from recognized funds like Franklin Templeton or BlackRock receive an NFT that controls the vault, allowing them to accrue interest while using the stable asset for various financial purposes [6]