I think there are at least two scenarios where issuing stablecoins on Bitcoin truly has demand and value: 1️⃣ Using native BTC as collateral for lending. No need to bridge BTC to other chains or wrap it. This maximizes adherence to the principle of 'Not your keys, not your coins' while still unlocking BTC's liquidity and asset utilization. 2️⃣ Direct exchange between native BTC and stablecoins. The traditional route is usually fiat → CEX → BTC → withdrawal. This creates an easy link between wallet addresses and the KYC info on exchanges. If native stablecoins on Bitcoin can achieve sufficient liquidity for BTC ↔ stablecoin swaps, it would reduce reliance on CEX and their real-name systems. These two directions hold significant value for HODLers who prioritize self-custody, privacy, and censorship resistance. #Bitcoin #BTC #Crypto #HODL #Decentralization