#稳定币发展 Reflecting on the development of stablecoins over the years, I can't help but feel a lot. From the initial USDT to the later USDC, DAI, and others, each innovation has pushed the industry forward. And today, we see a new trend - the rise of stablecoin factories. This reminds me of the model where Foxconn outsourced the production of iPhones for Apple. Outsourcing the complex issuance process to professional institutions, allowing brand owners to focus solely on products and user experience, is indeed a smart approach. Platforms like Paxos and Bridge are reshaping the way stablecoins are issued. They have not only dropped the threshold but also brought higher standards of standardization and compliance to the entire industry. However, we must also be vigilant about potential risks. Over-reliance on a few factories may cause systemic risks. In the future, finding a balance between efficiency and Decentralization will be a question worth following. Overall, this trend reflects that the encryption industry is moving towards a more mature and professional stage. For the entire ecosystem, this is undoubtedly a positive signal.