1 week ago
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Key Takeaways
- Dollar products lower the first onchain barrier.
- BTC can provide collateral; USDC provides liquidity.
- Settlement rails are moving beyond crypto exchanges.
- Stablecoin volume alone cannot prove adoption.
- Tokenized assets give onchain cash broader purpose.
For most of crypto’s history, the first decision was whether to buy Bitcoin. A company or investor can now enter the same financial system through a dollar balance, a settlement workflow, a loan against Bitcoin or a tokenized fund, without first making a bet on BTC’s price.
That is the case for a different kind of growth: dollar-denominated products can bring users, companies and capital onchain through familiar financial tasks. They may deepen the infrastructure around crypto, but they do not by themselves create demand for Bitcoin, Ether or any other volatile asset.
Why Onchain Finance Needs a Dollar Working Balance
Bitcoin can serve as an investment asset, reserve asset or collateral, but it is a difficult default unit for payroll, invo...
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