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Compliant Stablecoins: A Crypto Bridgehead for Traditional Finance. Following BlackRock's launch of the BUIDL fund, the institutional-grade stablecoin market has suddenly intensified. JPMorgan analysts point out that compliant stablecoins could potentially capture 30% of Tether's market share. Key players include: Circle (USDC), which has obtained an EU MiCA license and is experiencing rapid growth in cross-border payments; PayPal (PYUSD), leveraging its 350 million active users; and Mountain Protocol (USDM), the first interest-bearing stablecoin to receive a no-objection letter from the US SEC. Of particular concern is that when the Federal Reserve begins its interest rate cut cycle, products like USDM, offering a 5% base yield, could become a new safe haven for institutional funds.0Compliant Stablecoins: A Crypto Bridgehead for Traditional Finance. Following BlackRock's launch of the BUIDL fund, the institutional-grade stablecoin market has suddenly intensified. JPMorgan analysts point out that compliant stablecoins could potentially capture 30% of Tether's market share. Key players include: Circle (USDC), which has obtained an EU MiCA license and is experiencing rapid growth in cross-border payments; PayPal (PYUSD), leveraging its 350 million active users; and Mountain Protocol (USDM), the first interest-bearing stablecoin to receive a no-objection letter from the US SEC. Of particular concern is that when the Federal Reserve begins its interest rate cut cycle, products like USDM, offering a 5% base yield, could become a new safe haven for institutional funds.1Compliant Stablecoins: A Crypto Bridgehead for Traditional Finance. Following BlackRock's launch of the BUIDL fund, the institutional-grade stablecoin market has suddenly intensified. JPMorgan analysts point out that compliant stablecoins could potentially capture 30% of Tether's market share. Key players include: Circle (USDC), which has obtained an EU MiCA license and is experiencing rapid growth in cross-border payments; PayPal (PYUSD), leveraging its 350 million active users; and Mountain Protocol (USDM), the first interest-bearing stablecoin to receive a no-objection letter from the US SEC. Of particular concern is that when the Federal Reserve begins its interest rate cut cycle, products like USDM, offering a 5% base yield, could become a new safe haven for institutional funds.2Compliant Stablecoins: A Crypto Bridgehead for Traditional Finance. Following BlackRock's launch of the BUIDL fund, the institutional-grade stablecoin market has suddenly intensified. JPMorgan analysts point out that compliant stablecoins could potentially capture 30% of Tether's market share. Key players include: Circle (USDC), which has obtained an EU MiCA license and is experiencing rapid growth in cross-border payments; PayPal (PYUSD), leveraging its 350 million active users; and Mountain Protocol (USDM), the first interest-bearing stablecoin to receive a no-objection letter from the US SEC. Of particular concern is that when the Federal Reserve begins its interest rate cut cycle, products like USDM, offering a 5% base yield, could become a new safe haven for institutional funds.