Dominance of Tether and Circle is a net bad for stablecoins, says Bridge executive
Tether and Circle's dominance stifles stablecoin innovation and competition, according to Bridge's Ben O'Neill. Their fee structures and design choices don't serve all use cases optimally. O'Neill advocates for specialized stablecoins tailored to specific applications and efficient cross-stablecoin clearing systems. More competition could prevent fee increases and make stablecoins function better as money for payments companies and broader adoption.
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