Fortune: Tether's high profits "stimulate" many banks around the world to join the stablecoin market

Tether is expected to achieve a net profit of more than $10 billion by the end of this year, "stimulating" many banks around the world to join the stablecoin market and get a share of it, including: 1. Societe Generale-Forge, a subsidiary of Societe Generale, launched a euro-backed stablecoin; 2. Oddo BHF SCA is also developing a euro-denominated stablecoin; 3. London Revolut is considering issuing its own stablecoin; 4. Deutsche Bank's DWS plans to launch a stablecoin next year; 5. BBVA also plans to enter the stablecoin market and has cooperated with Visa to launch a tokenized network for banks to issue stablecoins and will pilot it in 2025; 6. Standard Chartered Bank, Animoca Brands and Hong Kong Telecom have been selected by the Hong Kong Monetary Authority as one of the first banks to issue Hong Kong dollar stablecoins in the pilot project.