Short-term U.S. Treasury securities are pretty much the gold standard for storing wealth—they mature quickly, generate interest, and are considered bulletproof safe by banks, investment funds, and major institutions everywhere.

Here's an interesting angle: when stablecoin issuers park their reserves into these kinds of assets, they typically pocket the interest themselves. Standard practice in the industry. But what if that model shifted? What if the yield structure worked differently? That's where things get more nuanced.