随着稳定币继续“吃掉世界”，价值链的重心也在发生迁移——从发行端逐渐转向分发端。一个明显的趋势是白标模式（White-label）的兴起，前端平台专注流量和用户，底层由专业发行方提供储备、审计与合规服务，即“稳定币即服务”（STaaS）。这意味着随着发行门槛降低，差异化将更多依赖分发能力与品牌，而非资产本身的信任度。这意味着未来市场格局可能也会随之变化，从少数巨头垄断，走向一批中型规模（10–...
Source Link随着稳定币继续“吃掉世界”，价值链的重心也在发生迁移——从发行端逐渐转向分发端。一个明显的趋势是白标模式（White-label）的兴起，前端平台专注流量和用户，底层由专业发行方提供储备、审计与合规服务，即“稳定币即服务”（STaaS）。这意味着随着发行门槛降低，差异化将更多依赖分发能力与品牌，而非资产本身的信任度。这意味着未来市场格局可能也会随之变化，从少数巨头垄断，走向一批中型规模（10–...
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