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Reeve Collins helped co-found Tether at a time when most <a href="https://www.thestreet.com/crypto/markets/bitcoin-must-clear-this-key-level-to-sustain-its-rally-says-analyst" rel="noopener noreferrer nofollow">people in mainstream</a> finance were questioning whether stablecoins would ever matter. Today he is also the co-founder of STBL and WeFi.
Looking at a market where JPMorgan, PayPal, and several sovereign governments are issuing their own stablecoins, Collins says the industry has cleared the debate it spent years having.
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 "If anything, it is the strongest validation the industry could ask for," he told TheStreet Roundtable in an exclusive interview.
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 "Stablecoins are no longer an experiment. They are becoming a core layer of financial infrastructure."
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<h2 id="the-shift-that-changes-everything">The shift that changes everything</h2>
Collins draws a clear line between what stablecoins were and what they are becoming. Early iterations digitized the dollar. The <a href="https://www.thestreet.com/crypto/markets/analyst-who-called-bitcoins-drop-from-100000-to-75000-now-sees-50000-as-the-next-stop" rel="noopener noreferrer nofollow">next generation</a>, he argues, will rethink how value moves through the entire financial system.
<a href="https://www.thestreet.com/crypto/markets/xrp-is-down-69-yet-millionaires-are-buying" rel="noopener noreferrer nofollow">Related: XRP is down 69%, yet millionaires are buying</a>
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 "Money is becoming programmable," he said. "It can move 24/7, settle in seconds, interact directly with software, and become part of an internet-native financial system."
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 Stablecoin transaction volumes now rival some of the largest payment networks in the world, a milestone Collins acknowledges but contextualizes carefully. "That's an important milestone, but it's only the beginning. The real transformation happens when businesses stop thinking about blockchain as a separate technology and start expecting money to move as seamlessly as information does today."
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His focus at STBL is on separating the stability function of money <a href="https://www.thestreet.com/crypto/markets/if-you-invested-1000-in-xrp-at-its-2025-high-here-is-what-it-is-worth-today" rel="noopener noreferrer nofollow">from the economic</a> value generated by underlying assets, giving users access to the benefits created by the assets they help bring on-chain rather than simply holding a digital dollar equivalent.
<h2 id="on-bitcoin-s-bear-market">On Bitcoin's bear market</h2>
Collins was direct when asked about Bitcoin's current position, down over <a href="https://www.thestreet.com/crypto/markets/over-700-million-in-bitcoin-left-major-exchanges-in-a-single-day" rel="noopener noreferrer nofollow">40 percent</a> from its all-time high, with sentiment at extreme fear and demand negative for over 200 consecutive days.
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 "Market cycles are part of every emerging technology," he said. "Each one has removed speculation while strengthening the underlying infrastructure."
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His read is that the foundation beneath the market is categorically stronger than it was in previous cycles. Clearer regulation, institutional participation, and real-world applications that did not exist before change what a bear market <a href="https://www.thestreet.com/crypto/markets/bitcoin-has-crashed-more-than-50-percent-six-times-here-is-what-always-happened" rel="noopener noreferrer nofollow">actually means for</a> the industry.
<a href="https://www.thestreet.com/crypto/markets/analyst-reveals-bitcoin-is-massively-undervalued-at-65000" rel="noopener noreferrer nofollow">Related: Analyst reveals Bitcoin is massively undervalued at $65,000</a>
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 "For stablecoins, adoption is not dependent on whether markets are moving up or down," Collins said. "Their value comes from utility, payments, settlement, treasury management, and global financial access. That is the defining characteristic of infrastructure. It continues to operate regardless of market conditions."
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<h2 id="the-institutional-arrival">The institutional arrival</h2>
Two years ago, Collins says, every institutional conversation <a href="https://www.thestreet.com/crypto/markets/billionaire-investor-says-bitcoin-could-hit-100000-only-if-these-things-happen" rel="noopener noreferrer nofollow">started with a single</a> question, "why blockchain?" Today that question has changed entirely.
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 "Now it's: how do we implement it?" he said. "That is a fundamental shift."
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BlackRock, Fidelity, and Franklin Templeton are all active in the stablecoin space. Regulatory clarity has accelerated their movement.&nbsp;
Collins sees this as <a href="https://www.thestreet.com/crypto/markets/if-you-invested-1000-when-satoshi-nakamoto-created-bitcoin-heres-what-youd-have-today" rel="noopener noreferrer nofollow">the beginning</a> of a phase where blockchain <a href="https://www.thestreet.com/crypto/markets/if-elon-musk-had-bought-bitcoin-and-gold-instead-of-twitter-heres-what-it-would-be-worth-today" rel="noopener noreferrer nofollow">becomes less visible</a> but significantly more important, embedded in financial infrastructure the way the internet eventually became embedded in commerce.
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 "The future of finance will not be defined by whether something is on-chain or off-chain," he said. "It will be defined by which infrastructure creates the most value."
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<a href="https://www.thestreet.com/crypto/markets/tesla-sends-a-quiet-but-powerful-message-on-bitcoin" rel="noopener noreferrer nofollow">Related: Tesla sends a quiet but powerful message on Bitcoin</a>

Exclusive: Tether co-founder says Bitcoin volatility proves why stablecoins have already won

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TheStreet Roundtable

Other articles published on Jul 27, 2026

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