In a recent tweet from crypto journalist Laura Shin, she shared a compelling clip from her Unchained podcast featuring Rob Hadick, General Partner at Dragonfly. The post highlights a bold statement: "Whoever owns the user, owns the money flow." This sets the stage for Hadick's explanation of why every company might soon have its own stablecoin. If you're in the blockchain space, especially dealing with meme tokens, understanding this trend could be crucial for navigating the evolving landscape of digital assets.

The Clip That Sparked the Discussion

Laura Shin's tweet (view it here) includes a short video from Episode 920 of Unchained, titled "The Stablecoin Competition Is On: Who Will Be the Winners and Losers?" In the clip, Hadick breaks down the motivations behind apps creating branded stablecoins. Stablecoins are cryptocurrencies designed to maintain a stable value, often pegged to assets like the US dollar, making them ideal for transactions without the volatility of tokens like Bitcoin or meme coins.

The video shows Hadick emphasizing that companies want to "own the end customer" and control "how economics are distributed." In simple terms, this means apps aim to keep users within their ecosystem by handling payments, rewards, and financial flows directly. Instead of relying on third-party stablecoins like USDT or USDC, they're building their own to capture more value and loyalty.

Why Are Apps Eager for Their Own Stablecoins?

Drawing from Hadick's insights across discussions, including his appearance on the Bankless podcast, here are the main reasons apps and companies are jumping into the stablecoin game:

• Owning the User Experience: By issuing their own stablecoin, apps can seamlessly integrate payments and rewards. For example, a social media app or a meme token platform could use its stablecoin for tipping creators, buying NFTs, or staking rewards. This keeps users engaged without needing to switch to external wallets or exchanges.

• Capturing Economic Value: Stablecoins generate yield through underlying assets like Treasury bills. Companies want a slice of that pie. Hadick notes that originators of stablecoins can retain 100% of the yield, which could drive massive supply growth. In the meme token world, this could mean projects funding community initiatives or airdrops directly from stablecoin earnings.

• Differentiation in a Crowded Market: With competitors like Tether dominating globally and Circle pushing innovations like its new Layer 1 chain Arc, apps need unique features. Purpose-built stablecoins can be optimized for speed, compliance, or specific use cases, such as cross-border remittances in emerging markets where meme tokens often gain traction.

• Real-World Applications Beyond Crypto: Hadick highlights how stablecoins are moving from DeFi trading to everyday uses like contractor payouts and remittances. In regions with hyperinflation or poor banking, stablecoins provide access to stable dollars. For meme token enthusiasts, this stability could pair well with volatile assets, enabling safer trading or holding strategies.

• Regulatory and Competitive Edge: Following potential U.S. stablecoin laws, more "stablechains" (blockchains focused on stablecoins) are emerging. Apps like Phantom (a Solana wallet) or Jupiter (a DEX aggregator) might keep their own stablecoins to stay competitive. Hadick warns that without a stablecoin strategy, fintechs risk falling behind.

In the Unchained episode, Hadick debates with Helius CEO Mert Mumtaz on whether Tether can be dethroned and how new players like Stripe are entering the fray. The conversation underscores a gold rush in stablecoins, potentially worth trillions in market opportunities.

How This Ties into Meme Tokens

While stablecoins aren't as flashy as meme tokens, they're the backbone for many blockchain ecosystems. Meme projects often rely on stablecoins for liquidity pools on DEXs or as a safe haven during market dips. If apps launch their own stablecoins, it could lead to more integrated platforms where meme communities thrive—think custom stablecoins for meme coin DAOs or fan rewards. However, Hadick cautions that most new stablecoin projects might fail without solving core issues like compliance and liquidity.

Listen to the Full Episode

To dive deeper, check out the full Unchained Episode 920 on platforms like Apple Podcasts or Spotify. Hadick's predictions could shape how we think about money in the web3 era.

As the stablecoin wars heat up, keeping an eye on these developments will help blockchain practitioners, including meme token creators, stay ahead. What do you think—will your favorite app launch a stablecoin soon?