Looking back on the development of stablecoins over the past ten years, I am filled with emotion. From the emergence of USDT in the very beginning to now giants like Sony entering the market, the stablecoin industry has indeed traveled a long road. I remember when USDT was first launched in 2014, the market response was tepid, and many questioned its credibility. But over time, USDT gradually became the mainstream pricing tool in the crypto market.

Now, seeing Sony Bank plan to issue a USD-pegged stablecoin in the 2026 fiscal year, it naturally brings to mind the past history. This move signifies traditional financial giants’ recognition of blockchain technology and also indicates that stablecoins will further integrate into the mainstream economy. Sony’s goal is to use the stablecoin for payments within its ecosystem for gaming and anime content, which will undoubtedly bring new application scenarios and user groups for stablecoins.

However, we must also remember the controversies and challenges USDT has faced. Transparency issues, regulatory pressure, and other problems have always been hurdles USDT needs to overcome. As a well-known company, Sony must learn from these lessons when issuing stablecoins, ensuring sufficient transparency and compliance.

Overall, Sony’s participation signals that the stablecoin market will usher in a new wave of development. At the same time, we must stay vigilant, closely monitor how new entrants balance innovation and risk, and pay attention to changes in regulatory policies. After all, history always advances in a spiral, and new opportunities often come with new challenges.