Latest news with #PiProtocol
Associated Press
19 hours ago
- Business
- Associated Press
Pi Protocol Rebrands to STBL, Introduces Architecture for Next-Generation Stablecoin Economics
DUBAI, AE / ACCESS Newswire / June 7, 2025 / Pi Protocol today announced the completion of its comprehensive rebrand to STBL, marking a strategic development that reflects the company's maturation to institutional-grade stablecoin infrastructure. The transformation signals a refined focus on establishing the 'Stablecoin 2.0" era, a paradigm where users who mint stablecoins retain both the yield generated from backing assets and governance control over the protocol itself. The new STBL ecosystem introduces three complementary tokens designed to address fundamental inefficiencies in existing stablecoin markets: USST (Stablecoin): A fully over-collateralized stablecoin backed by a diversified portfolio of institutional-grade, real-world assets. Unlike traditional stablecoins, USST maintains price stability while passing yield to users through the protocol's innovative architecture. YLD (Yield Token): Automatically issued during the USST minting process, YLD tokens represent users' claims to real income streams generated by backing assets. This separation of yield from principal allows users to trade, hold or compound their returns independently while maintaining stablecoin utility. STBL (Governance Token): Provides holders with democratic control over protocol parameters, reserve management, and reward distribution. The governance structure ensures community-driven decision-making rather than centralized control. STBL is designed for regulatory alignment and institutional-grade integrations - while remaining fully modular, permissionless, and compatible with DeFi. Current stablecoin markets suffer from a fundamental asymmetry where centralized issuers like Tether and Circle retain billions in yield generated from user deposits. STBL's architecture directly addresses this market failure by ensuring value flows back to ecosystem participants who create and maintain the stablecoin supply. 'STBL combines institutional-grade infrastructure with decentralized governance principles,' said Reeve Collins, co-founder of STBL and former co-founder and CEO of Tether. 'We're establishing a new financial primitive that serves protocols, institutions and governments while preserving core decentralization values. The stablecoin market has remained largely unchanged since our work on Tether. STBL is the natural evolution and the start of the Stablecoin 2.0 era.' The stablecoin market, valued at approximately $200 billion, has seen limited innovation since Tether's introduction nearly a decade ago. STBL now positions itself as the next evolutionary step, targeting significant market share by delivering superior value to users. 'We built Tether to put the dollar on the blockchain,' Collins noted. 'Now, we've built STBL to bring sustainable yield and democratic governance to stablecoins. This is the infrastructure that will onboard the next wave of institutional decentralized finance adoption.' 'The premise is simple: you create the money, you keep the yield,' said Bundeep Singh Rangar, CEO and co-founder of STBL. 'We're witnessing the evolution toward Stablecoin 2.0, a model where financial sovereignty is embedded as a core architectural feature.' STBL operates on both Ethereum and Solana networks, providing institutional clients with multi-chain flexibility while maintaining regulatory compliance standards. Unlike existing decentralized alternatives that rely on complex algorithmic mechanisms or suffer from capital inefficiency, STBL provides capital efficiency through optimized collateralization ratios, yield transparency with real-time asset performance tracking, governance legitimacy through token-holder voting mechanisms and regulatory alignment with compliant asset selection. The rebrand to STBL reflects confidence in the protocol's ability to capture market share from legacy stablecoin providers. By addressing structural inefficiencies, STBL offers compelling incentives for users, institutions, and protocols to migrate toward this next-generation framework. To find out more about STBL and its three-token architecture, visit About STBL STBL is a decentralized finance infrastructure protocol enabling the collateralization and monetization of yield-bearing real-world assets through USST stablecoin issuance. Operating across Ethereum and Solana, STBL serves protocols, institutions and users seeking yield-generating stablecoin solutions without compromising on decentralization. Governance is driven by holders of the STBL token, ensuring community-led protocol evolution. Media Contact [email protected] Follow STBL Twitter: LinkedIn: Website: Disclaimer Crypto assets are unregulated investment products prone to sudden and substantial value fluctuations, presenting a high risk of total loss of the invested capital. The information presented herein is not intended as a financial promotion. This material has been produced for circulation to a limited number of professional investors and journalists. If you are unsure whether this asset is suitable for your individual circumstances, it is highly recommended to obtain independent financial and legal advice. SOURCE: PI TECHNOLOGIES, LTD press release
Associated Press
18-04-2025
- Business
- Associated Press
Pi Protocol Selects Solana as Native Blockchain to Enable Cost-Efficient Stablecoin Adoption
DUBAI, UNITED ARAB EMIRATES / ACCESS Newswire / April 18, 2025 / Pi Protocol, the innovative new stablecoin venture led by Tether co-founder Reeve Collins, today announced the adoption of Solana (SOL) as its native blockchain network. This strategic decision positions Pi Protocol to leverage Solana's superior transaction speeds and lower costs for its USPi network token, while maintaining Ethereum (ETH) compatibility for its USP stablecoin. Pi Protocol features a unique three-token architecture: the USP stablecoin (pegged to the US dollar), the USI yield token, and the USPi governance token. The USP stablecoin is backed by tokenised real-world assets (RWAs) including money market funds, US Treasuries, and insurance assets. The USI yield token captures and maximises returns generated from the underlying collateralised assets and the USPi token governs the protocol. 'Solana provides the ideal infrastructure for programmable capital,' said Bundeep Singh Rangar, CEO of Pi Protocol. 'We can give users immediate access to yield as well as our USP stablecoin backed by institutional-grade real-world assets. By extending USP across both ETH and SOL networks, we can tap into Ethereum's established ecosystem and liquidity, as well as Solana's performance advantages.' Pi Protocol's USPi governance token and USI yield token will be built on Solana, while the USP stablecoin will operate across both Ethereum and Solana networks via a proprietary in-house ETH-SOL bridge. This software will contain custom smart contracts and middleware functionality, ensuring seamless integration with enhanced compliance and cross-chain fund visibility. This architecture creates a foundation for future expansion to additional blockchains beyond Ethereum and Solana such as Cardano, Polkadot, Stellar, Sui and The Open Network (TON). 'Stablecoins are no longer just a dollar-pegged utility, they're evolving into dynamic assets that reward users directly, leveraging DeFi and on-chain RWAs to deliver value that was unimaginable a decade ago,' said Reeve Collins, co-founder of Pi Protocol and co-founder of Tether. 'With Solana's infrastructure, we're delivering a decentralised stablecoin ecosystem that combines the security of real-world asset backing with the performance needed for mainstream financial applications.' The choice to build on Solana aligns with broader market trends toward faster, more cost-efficient blockchain infrastructure. Solana currently processes nearly 100 million transactions daily at an average cost of just $0.00025 per transaction, compared to Ethereum's higher fees exceeding one dollar per transaction. Solana can process more than 2,600 transactions per second (TPS), while Ethereum currently handles around 15 TPS. This speed makes Solana one of the fastest blockchain networks, allowing it to offer lower fees and better scalability. Ethereum remains the dominant stablecoin network, however, with approximately $122 billion in circulation (over half the $233 billion total market). Launched in 2020, five years after Ethereum, Solana has emerged as the third most popular stablecoin network with roughly $13 billion, according to Pi Protocol's aims to position USP within the top blockchain ecosystems for decentralised finance (DeFi) activities. Currently, the total value locked (TVL) in DeFi exceeds $90 billion, with RWA representing $20 billion. Ethereum leads with $55 billion in DeFi activity, while Solana's $7 billion places it third behind Bitcoin's $8 billion. For more information about Pi Protocol and its USP stablecoin, visit About Pi Protocol Pi Protocol is a decentralised finance (DeFi) infrastructure to collateralise and monetise blockchain based yield-bearing real world assets (RWA) via issuance of USP stablecoins pegged to the U.S. dollar. Its governance will be driven and conducted by holders of its USPi network token. For more information, please connect at: [email protected] ------------------------------------------------------------------------------------------------------------------------------------ DISCLAIMER: Crypto assets are unregulated investment products prone to sudden and substantial value fluctuations, presenting a high risk of total loss of the invested capital. The information presented herein is not intended as a financial promotion. This material has been produced for circulation to a limited number of professional investors and journalists. If you are unsure whether this asset is suitable for your individual circumstances, it is highly recommended to obtain independent financial and legal advice. SOURCE: PI TECHNOLOGIES, LTD press release
Bloomberg
18-02-2025
- Business
- Bloomberg
Tether Co-Founder Is Working on Yield-Bearing Stablecoin Rival
One of the original founders of Tether is backing a new stablecoin project — one that will compete with the world's most traded cryptocurrency. Reeve Collins, who along with Brock Pierce and Craig Sellars launched precursor to the original stablecoin, served as Tether's first chief executive officer from from 2013 to 2015. He is chairman and co-founder of Pi Protocol. The so-called decentralized project is expected to debut on both the Ethereum and Solana blockchains in the second half of this year or sooner. No financial terms were disclosed.
