He suggested banks could eventually collateralize reserves to issue their own stablecoins and generate compliant yield
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That dynamic is central to STBL’s own pitch.
Key facts
At the center of the debate is Section 404 of the proposed legislation, which would prohibit Digital Asset Service Providers (DASPs) and their affiliates from offering yield solely as a function
The company describes itself as “stablecoin 2.0,” arguing for a shift away from the traditional centralized issuer model that dominates the market today
For Vollono, the Clarity Act could provide the regulatory framework needed to accelerate that transition
The Clarity Act’s biggest outcome may be the creation of an entirely new market for “yield-as-a-service,” according to Joe Vollono, chief commercial officer at stablecoin infrastructure firm STBL
Summary
Proposed rules could force crypto firms to shift from passive yield to active, compliant capital strategies. STBL's Chief Commercial Officer Joe Vollono said AI-driven treasury, lending and collateral tools could become crypto’s next major infrastructure layer. Banks worried about deposit flight may ultimately become participants in the stablecoin economy rather than competitors. The Clarity Act’s biggest outcome may be the creation of an entirely new market for “yield-as-a-service,” according to Joe Vollono, chief commercial officer at stablecoin infrastructure firm STBL. At the center of the debate is Section 404 of the proposed legislation, which would prohibit Digital Asset Service Providers (DASPs) and their affiliates from offering yield solely as a function of holding a digital asset.