PANews reported on March 31 that Coinbase CEO Brian Armstrong stated that the United States should allow stablecoins (such as USDC) to pay onchain interest, enabling consumers to enjoy over 4% market returns, instead of the 0.01% interest rate offered by banks. This would reduce inflation losses and provide financial opportunities for billions of underserved people globally. At the same time, stablecoins, as major holders of U.S. Treasury bonds, help consolidate the dollar's dominant position in the world.
Armstrong emphasized that current laws do not allow stablecoins to pay interest, but with pro-crypto government and Congress pushing forward new stablecoin legislation, now is the best time to change the rules and keep onchain interest-driven innovation in the United States.
