PANews reported on March 31 that Coinbase CEO Brian Armstrong said that the United States should allow stablecoins (such as USDC) to pay on-chain interest, allowing consumers to enjoy 4%+ market returns instead of the 0.01% interest rate provided by banks. This will reduce inflation losses and provide financial opportunities for billions of underserved people around the world. At the same time, as the main holder of U.S. Treasury bonds, stablecoins will help consolidate the dollar's dominance in the world.
Armstrong emphasized that current laws do not allow stablecoins to pay interest, but with the pro-crypto government and Congress advancing new stablecoin legislation, now is the best time to change the rules so that on-chain interest-driven innovation remains in the United States.
