Coinbase CEO: U.S. stablecoin legislation should allow consumers to earn interest on stablecoins

ChainCatcher message, Coinbase CEO Brian Armstrong stated on social media, "U.S. stablecoin legislation should allow consumers to earn interest on stablecoins. The government should not favor one industry over another, but should allow both banks and crypto companies to share interest with consumers and incentivize them to do so.

Stablecoins have found product-market fit by digitizing the dollar and other fiat currencies, but we have yet to unlock a key component that would allow ordinary people and the U.S. economy to fully benefit: on-chain interest."