CZ: We are currently still in the stablecoin 1.0 stage; stablecoin 2.0 has not yet truly begun.
TL;DR
CZ states that stablecoin 2.0 hasn't truly started yet, with current market still in 1.0 stage. He praises Ethena's yield model and encourages more stablecoin projects on BNB Chain.
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According to Odaily Odaily, CZ stated during the "2025 Year-End Q&A AMA" hosted by BNB Chain that what the market is currently seeing is still only the stablecoin 1.0 stage; stablecoin 2.0 has not yet truly begun to develop. The stablecoin with the largest market capitalization currently does not offer yields, while Tether has a significant market share due to its first-mover advantage. He believes Ethena's approach is quite successful; the project has been adopted by numerous exchanges and is able to provide yields to users, making it worthwhile to encourage the team to continue exploring this model.
CZ also pointed out that the current regulatory environment is more open than before, but BNB Chain has not deployed a native stablecoin for some time. The BNB team will welcome as many stablecoin-related projects as possible and provide them with the strongest support.