Traditional financial institutions are becoming increasingly interested in stablecoins, primarily to avoid being left behind by the digital dollar in the upcoming U.S. regulatory environment. BitGo's stablecoin service has already attracted significant interest from banks in the U.S. and abroad, who hope to tokenize deposits or issue stablecoins to respond to potential future changes. Although yield-bearing stablecoins still represent a minority in the total $23 billion stablecoin market, they are showing a trend of rapid growth. Institutions believe the potential of stablecoins lies not only in providing higher liquidity for payments and transactions but also in enhancing efficiency by reducing friction encountered when transferring funds across different platforms. However, regulatory distinctions will have an impact on the market.