Forbes: Tether's high profits stimulate multiple global banks to join the stablecoin market

According to Fortune magazine, Tether is expected to achieve a net profit of over 10 billion US dollars by the end of this year, "stimulating" several global banks to join the stablecoin market and get a piece of the pie, including:

1. Societe Generale-Forge under French Societe Generale has launched a euro-supported stablecoin;

2. Oddo BHF SCA is also developing a stablecoin priced in euros;

3. London's Revolut is considering issuing its own stablecoin;

4. DWS under Deutsche Bank plans to launch a stablecoin next year;

5. BBVA also plans to enter the stablecoin market and has partnered with Visa to launch a tokenization network for banks to issue stablecoins and will pilot it in 2025;

6. Standard Chartered Bank, Animoca Brands and Hong Kong Telecom have been selected by the Hong Kong Monetary Authority as one of the first batch of banks in experimental projects issuing Hong Kong dollar-based Stablecoins.