Altcoins News
By Julie Binoche
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Why a Native Stablecoin Matters. Mumtaz described stablecoins as commodities and warned that Solana is losing valuable economic…
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Community Responses and Early Experiments. The discussion quickly gained momentum within the Solana developer community.
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How the Model Could Work. The mechanism is relatively simple:
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The Stablecoin Wars Reach Solana. Mumtaz’s comments sparked broader comparisons to other ecosystems.
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Legal and Regulatory Landscape. The GENIUS Act, passed in July, clarified the regulatory framework for payment stablecoins in the…
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What’s Next for Solana?. At this stage, the idea remains a proposal. There is no governance vote or Solana Improvement…
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Final Thoughts. The debate around a Solana-based stablecoin reflects a broader shift in crypto: ecosystems are…
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A new discussion has emerged in the Solana ecosystem after Helius Labs CEO Mert Mumtaz suggested that Solana could benefit from its own stablecoin.
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In a post shared on September 10, Mumtaz called the idea a “no-brainer,” initially hinting at protocol-level integration but later clarifying that digital asset treasury…
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Mumtaz described stablecoins as commodities and warned that Solana is losing valuable economic potential by relying on external issuers.
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While the legal classification of stablecoins under the US GENIUS Act places them outside traditional securities and commodities laws, the economic impact remains significant.
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For Mumtaz and other Solana proponents, the key question is: why should Solana’s activity generate billions in profits for competitors when those same funds could strengthen…
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The discussion quickly gained momentum within the Solana developer community. One project, KAST, publicly committed to designing a stablecoin called USDK that would direct…
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KAST plans to work with the m^0 foundation, which is developing programmable and application-specific digital dollars.
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A Solana-based stablecoin holds reserves, typically in U.S. Treasuries.
The Currency Analytics
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