Tether Co-founder Reeve Collins: Current Stablecoins Have Structural Flaws, New Protocol STBL Uses Dual-Token Structure to Allow Users to Earn Yield

CoinFeed June 21 news, Tether co-founder Reeve Collins pointed out in an interview that the current stablecoin model has structural flaws: after users deposit dollars, the issuer invests the funds in assets such as U.S. Treasury bonds (currently yielding 3-4%), and all interest income is exclusively retained by the issuer, while users only get payment convenience without sharing in the yield. To address this issue, Collins launched the next-generation decentralized stablecoin protocol STBL, which uses a dual-token structure, separating into a stable payment token and a yield-bearing token, allowing users to automatically accumulate yield while transacting. Additionally, the protocol allows any institution such as banks, brands, sports teams to issue their own stablecoins on it, choosing assets and yield distribution rules.