Reeve Collins, co-founder of Tether, is set to introduce the Pi Protocol, a new decentralized stablecoin designed to generate yield through tokenized assets such as U.S. Treasuries. The project is expected to launch on both Ethereum and Solana by the end of 2025.

The Pi Protocol aims to challenge existing stablecoins like USDT and USDC by focusing on interest-earning models, reflecting a broader trend in the stablecoin market. With Tether reporting $13 billion in profits for 2024, the stablecoin sector is witnessing significant innovations.