Breaking the Oligopoly in Stablecoins: Synthetic Foreign Exchange Innovation

The cryptocurrency industry is undergoing a significant transformation with the rise of stablecoins as daily financial tools. However, the current market presents an oligopoly issue, with USDT and USDC dominating over 99% of the market volume.

To break through this monopoly, new players are looking to synthetic foreign exchange systems, specifically MtM NDF (Mark-to-Market Non-Deliverable Forwards). This innovation has the potential to meet global multi-currency needs and open up a trillion-dollar on-chain foreign exchange market.

Traditional spot stablecoins have several limitations, including insufficient liquidity depth, integration difficulties with mainstream fintech systems, and scarce on-chain profit scenarios. In contrast, MtM NDF synthetic foreign exchange offers five key advantages: stable anchoring, retention of ecological dividend, infinite scalability, high capital efficiency, and low landing threshold.