🚀 Crypto-Gold Prize Frenzy is LIVE!Join now: https://t.co/CEAHQDjqOhTrade $PAXG & $BTC spot, futures, OR simply save/net deposit to win BIG!🎯 100% winning chance – everyone gets a reward!💰 Don’t miss your shot at crypto-gold riches.#PAXG #BTC #Crypto #Gold #Trading #Giveaway #LBank ...

Market Volatility - BNB experienced significant price fluctuations, dropping to a low of $871.99 before rebounding to $884.60, only to fall again to $873.6 [1][2] - The trading volume spiked to nearly 60,000 tokens, with $876 acting as a key support level during the session [2] Broader Market Context - The broader crypto market faced a downturn, coinciding with geopolitical events, specifically an attack by Israel on Hamas' leadership in Qatar [2] - In contrast, gold prices increased, with futures nearing a record of $3,700 per ounce, while gold-backed cryptocurrencies like PAXG and XAUT also saw price increases before declining [3] Exchange Performance - Binance reported a record $2.63 trillion in futures trading volume last month, making it one of the largest exchanges by spot trading volume alongside Bybit and Crypto.com [3] - BNB serves as a utility token for trading fee discounts on Binance, providing users with a 25% discount on fees [4]

RT Token Terminal 📊 (@tokenterminal)⛓️ Stablecoin supply by deployment:🇺🇸 USD is the most widely tokenized currency.🇪🇺 Not a single EUR stablecoin makes it into the top 20 stablecoins by supply.🪙 However, XAUT & PAXG (tokenized gold), make it into the top 20. https://t.co/X0rscNe2bW ...

⛓️ Stablecoin supply by deployment:🇺🇸 USD is the most widely tokenized currency.🇪🇺 Not a single EUR stablecoin makes it into the top 20 stablecoins by supply.🪙 However, XAUT & PAXG (tokenized gold), make it into the top 20. https://t.co/X0rscNe2bW ...

Market Overview - The tokenized gold market is witnessing a competition between PAXG (Paxos Gold) and XAUt (Tether Gold) [1] - PAXG is currently leading in attracting new onchain gold investors [1] New Investor Acquisition (Year-to-Date 2025) - PAXG has acquired approximately 31,700 first-time buyers with an initial purchase worth at least $10 [1] - XAUt has acquired approximately 12,300 first-time buyers with an initial purchase worth at least $10 [1]

Group 1: Overview of Commodity-Backed Stablecoins - Commodity-backed stablecoins are cryptocurrencies anchored to physical commodities like gold and oil, aiming to maintain price stability through their value linkage to specific commodities [1][3] - The stablecoin market is predominantly led by fiat-backed stablecoins, with commodity-backed stablecoins being relatively small in scale, primarily represented by gold-backed stablecoins such as PAXG and XAUt, which have market sizes of $950 million and $830 million respectively, accounting for 0.64% of the total stablecoin market [1][3][6] - As of August 3, the total stablecoin market reached $277 billion, with fiat-backed stablecoins making up $233.83 billion, representing 84.4% of the market [3][6] Group 2: Comparison Between Fiat and Commodity-Backed Stablecoins - Fiat-backed stablecoins are pegged to fiat currencies like the US dollar, while commodity-backed stablecoins are pegged to physical commodities [6][7] - The reserve assets for fiat-backed stablecoins typically include cash and cash equivalents, whereas commodity-backed stablecoins are backed by the corresponding physical commodities [6][7] - Fiat-backed stablecoins are widely used in cryptocurrency trading, cross-border payments, and DeFi applications, while commodity-backed stablecoins serve as payment methods, hedging tools, and inflation-resistant investment options [6][7] Group 3: Case Studies of Commodity-Backed Stablecoins - Petro, a Venezuelan oil-backed stablecoin, was introduced to circumvent US financial sanctions and boost the economy but ultimately failed due to issues such as the authenticity of oil reserves, US sanctions, and lack of trust in the Venezuelan government [2][11] - Kinesis Silver (KAG) is a silver-backed stablecoin with a market cap of $140 million, offering a unique revenue-sharing mechanism where over 50% of Kinesis's income is shared with users monthly [12][13] - Agrotoken, a stablecoin backed by agricultural products like soybeans, corn, and wheat, aims to provide liquidity and financing options for farmers, having tokenized 230,000 tons of grain with a transaction volume of $70 million [15][21]

Is tokenized gold our generation's gold rush?Is $PAXG the stealth RWA we aren't talking about enough?Nic Cary and Lesley Chavkin from Paxos drop the alpha 👇https://t.co/K2QDAqSsT7 https://t.co/EyC2pGSRx8 ...

Group 1: Development of Stablecoins - The development of stablecoins has evolved from a response to the vulnerabilities of traditional financial systems during the 2008 financial crisis to a recognized regulatory framework in the U.S. with the signing of the "Genius Act" [2][3] - Stablecoins emerged to address the structural contradictions between cryptocurrencies and traditional finance, with Tether launching USDT in 2014 as the first stablecoin backed by fiat currency [4][7] - As of June 2025, the total market value of stablecoins surpassed $250 billion, accounting for 8% of the cryptocurrency market, with a trading volume exceeding $37 trillion in 2024 [7] Group 2: Strategic Significance of Stablecoins - Stablecoins are seen as potentially reshaping global payment systems, offering advantages such as lower costs and faster transaction times compared to traditional SWIFT systems [10] - The legislative competition surrounding stablecoins reflects a broader struggle for monetary sovereignty in the digital age, with the U.S. reinforcing the dollar's dominance through stablecoin regulation [11] - Stablecoins serve as a digital financial entry point for the unbanked population, providing access to financial services without the need for traditional banking infrastructure [12] Group 3: Role of Trust Companies in Stablecoin Mechanisms - Trust companies can act as custodians for stablecoin reserve assets, ensuring that these assets are independent and protected from the issuer's bankruptcy [20] - The trust mechanism can facilitate compliance with regulatory policies, allowing for flexible responses to changes in regulations and enhancing the governance of stablecoin operations [21] - Trust companies can support the development of Real World Assets (RWA) by providing legal risk isolation and ensuring compliance in the tokenization process [23]

Core Viewpoint - The passage discusses the passage of the "GENIUS Act" by the U.S. Senate, which aims to regulate stablecoins and reflects a broader financial strategy to maintain the dominance of the U.S. dollar in the global economy [1][5]. Group 1: Stablecoin Overview - Stablecoins are digital currencies pegged to specific assets, primarily fiat currencies like the U.S. dollar, providing stability in value [2][3]. - Unlike traditional cryptocurrencies, stablecoins adjust their supply based on market demand and are not fully decentralized, as their issuance and reserve processes are managed by private entities [3][4]. - The majority of stablecoins are dollar-pegged, with over 95% of them based on the U.S. dollar, as the "GENIUS Act" does not recognize gold, silver, or digital assets as collateral [4]. Group 2: U.S. Dollar Dominance - The U.S. dollar's global dominance is under threat, prompting the U.S. to explore digital currencies as a means to sustain its hegemony [5][6]. - The U.S. currently holds a significant share of the global stablecoin market, with 95% of domestic stablecoins and 83% of global fiat stablecoins being dollar-based [6]. - The "GENIUS Act" mandates that stablecoins must be backed by a 1:1 ratio of U.S. dollar cash reserves, which is expected to further increase the volume of dollar stablecoins [6]. Group 3: U.S. Debt and Stablecoins - The U.S. national debt has reached $36.22 trillion, with concerns about the sustainability of this debt level [7]. - Stablecoins are becoming major buyers of U.S. Treasury bonds, with USDT and USDC holding approximately $170 billion in U.S. debt, surpassing several countries [8]. - Predictions suggest that by 2028, the issuance of stablecoins could reach $2 trillion, creating an additional $1.6 trillion demand for U.S. Treasury bonds, which could help absorb new debt issued during Trump's term [8][9]. Group 4: Global Demand for Stablecoins - There is a growing demand for dollar stablecoins in regions with volatile local currencies, as they provide easier access to U.S. dollars [9]. - The "GENIUS Act" stipulates that stablecoin reserves must primarily consist of short-term U.S. Treasury bonds, ensuring safety and liquidity [9].

Investment Rating - The report maintains a positive investment rating for the stablecoin industry, particularly focusing on the implications of Hong Kong's Stablecoin Regulation [4]. Core Insights - Stablecoins are crucial infrastructure in the cryptocurrency ecosystem, designed to maintain price stability by pegging their value to stable underlying assets [8][9]. - The global trading volume of stablecoins has seen exponential growth, with daily average trading volume increasing from $432 million in 2019 to $84.143 billion in 2024, representing a CAGR of 187.1% [2][42]. - The introduction of Hong Kong's Stablecoin Regulation is expected to create structural impacts on the non-bank financial sector, allowing qualified non-bank institutions to participate in stablecoin issuance [3][13]. Summary by Sections 1. What are Stablecoins? - Stablecoins are a special type of cryptocurrency designed to maintain price stability by pegging their value to stable assets such as fiat currencies, commodities, or algorithms [8]. - They serve as a bridge between traditional finance and the volatile cryptocurrency market, facilitating transactions, payments, and hedging [9]. 2. Core Mechanism of Stablecoins - Stablecoins can be categorized into four main types based on their collateral: fiat-collateralized, commodity-collateralized, crypto-collateralized, and algorithmic [23][24]. 3. Core Value of Stablecoins - Stablecoins act as a payment tool, providing a low-volatility "value benchmark" for transactions in the cryptocurrency market [29]. - They serve as a value storage mechanism, allowing users to convert volatile assets into stablecoins to mitigate market risks [34]. - Stablecoins enhance transaction efficiency by reducing costs and improving speed, especially in cross-border payments [35]. 4. Global Regulatory Mechanisms for Stablecoins - Hong Kong's Stablecoin Regulation aims to create a robust regulatory environment, requiring all stablecoin issuers to obtain licenses, thereby preventing regulatory arbitrage [15][16]. - The regulation emphasizes a "same activity, same risk, same regulation" principle, ensuring that stablecoin activities are subject to stringent oversight [13]. 5. Impact on Non-Bank Financial Institutions - The regulation is expected to lead to compliance upgrades and create new business opportunities for non-bank institutions, with a focus on major players like ZhongAn Online, Hong Kong Stock Exchange, and LianLian Digital [3][22].