From asset to rail
Stablecoins came to be used as payment rails, account abstraction lowered the barrier to use, and the people using it no longer needed to know what was underneath.
Watch it happen in “Crypto Becomes Financial Infrastructure” →Why it happened
- 01稳定币的结算速度与成本适合承载跨境与机器间付款。
- 02账户抽象与设备签名取代了助记词，门槛大幅下降。
- 03监管把规则写进法律，机构接入有了依据。
Before · After
Using crypto assets was something you had to attend to deliberately.
It receded behind the applications, and asking who operates the rail got harder at the same time.
Why it matters
The sign that infrastructure is finished is that users stop thinking about it — at the cost of no longer seeing who runs it.
Related entities
Sources
- Level AGENIUS Act — Guiding and Establishing National Innovation for U.S. Stablecoins Act
Unverified · 第 119 届国会参议院法案 S.1582，2025 年 7 月 18 日签署成法（Public Law 119-27）。要求支付型稳定币发行人按一比一持有储备，并按发行人牌照分别归 OCC、美联储或 FDIC 监管。在 congress.gov 按 S.1582 检索 —— 该站对自动访问返回 403，需在浏览器中打开。
- Level ARegulation (EU) 2023/1114 on Markets in Crypto-Assets (MiCA)
Unverified · 2023 年 6 月 9 日刊于《欧盟官方公报》。稳定币（资产参考代币与电子货币代币）条款自 2024 年 6 月 30 日适用，其余条款自 2024 年 12 月 30 日适用。在 EUR-Lex 检索 CELEX 号 32023R1114。