The American presidential election of 2024 was a pivotal moment for the cryptographic industry which will shape the regulation of cryptography. These developments will create new opportunities and accelerate the integration of decentralized finance (DEFI) into traditional finance. A new HTX Ventures report explores how active real world (RWA), stablescoins and regulatory developments can reshape the DEFI landscape. The report examines the main opportunities and potential growth trajectories that can emerge during this transformative period on the cryptography market.
The Stablescoin sector should show significant growth as emerging regulation standards. A regulatory framework was introduced with a stable bill proposed by the United States Chamber of Financial Services Committee. It establishes rules for the issuance of stables, support assets and reserve ratio, declaration regulations and regulatory monitoring. This legislation, if adopted, will mark the first complete regulation of cryptography in the United States and could support a generalized adoption of stablescoins and payments based on blockchain.
Stablecoins represent more than 50% of all blockchain transactions and facilitate transparent cross -border payments. Compliance will position stablescoins for consumer use, allowing more in -depth integration in financial systems and stimulating related infrastructures such as layer 1 blockchains and challenge applications.
Crypto in traditional finance: an increasing collaboration
Tradfi has recognized the potential of stablecoins and is increasingly committed to industry. Beyond stable cryptocurrencies such as the USDT (USDT) and the USD part (USDC), companies are developing stablescoins suitable for cross-border payments. For example, Ripple introduced Rlusd, designed specifically for business transactions. Meanwhile, bridge acquisition of $ 1.1 billion per Stripe – the most important in the history of the crypto market – highlights the growing role of stablecoins in global payments by integrating Fiat and Stablecoin solutions for companies.
RWA has drawn significant attention in recent years, and their onchain value has increased by more than 60% in 2024 to $ 15 billion. This growth was mainly motivated by the collapse of ONCHAIN’s insidible yields. Due to their ability to maintain stable yields in the lower and bullish markets, RWAs have been largely adopted by users and Crypto retail professionals.
Rwas growth and improved regulations have accelerated the adoption of tokenization. In addition to cryptocurrency protocols such as Maker, several Tradfi companies have entered the RWA sector with their products. For example, Blackrock launched the construction of American Treasury Treasury funds in tokenized in March 2024, allowing eligible investors to win yields from T-deployed T tickets.
Since TETHER’s annual revenues from Bills are reaching $ 10 billion, the potential for the renewal of yield stablescoins has attracted attention. These stablecoins are classified into two types: those supported by pregnancies and those supported by ONCHAIN arbitration strategies, such as neutral coverage or MEV arbitration.
In 2024, the market experienced significant growth in stables -generating yields. Ethena’s yield stable stablecoin has become the third largest stablecoin with a market capitalization of more than $ 5.5 billion.
Collaboration with Tradfi on Rwas offers important opportunities for DEFI protocols. For example, Ethena recently launched USDTB, a stablecoin mainly supported by the actions of the US Treasury Fund token of BlackRock, Buidl. This structure strengthens the stability of the USDE under the unfavorable conditions of the market, including periods of negative financing rate. Recently, the Ethena risk committee approved the USDTB as a USDE support, allowing the protocol to close the coverage positions and reassign support assets for the USDTB during market uncertainties.
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