News

Jinse Finance reported that Stripe CEO Patrick Collison stated that with the rise of yield-bearing stablecoin options, stablecoins will force banks to offer competitive interest rates to their customers. Collison pointed out that the average savings interest rates for deposits by customers in the United States and Europe are both well below 1%, which creates conditions for stablecoins to disrupt the market. He wrote: Savers will and should receive capital returns close to market levels. Some lobbying groups are currently pushing for further restrictions on any form of rewards associated with stablecoin deposits in the "post-GENIUS era." The commercial purpose behind this is clear—low-interest deposits are certainly beneficial, but in my view, such disrespect for consumers is self-defeating.

Jinse Finance reported that MetaMask announced it will launch an on-chain rewards program “in the coming weeks.” The program “will offer referral rewards, mUSD incentives, exclusive partner rewards, token utility rights, and more,” and will distribute “over $30 million worth of LINEA tokens” in the first quarter. In the announcement, MetaMask stated: “Long-term users of MetaMask will not be overlooked—they will receive special benefits, and MetaMask rewards will establish meaningful connections with future MetaMask tokens.” MetaMask also emphasized that the program “is not a mining game,” but rather “a genuine way to regularly give back to the community.” It is currently unclear whether users in certain jurisdictions will be restricted from participating in the program, or whether MetaMask will implement any anti-Sybil measures.