Web3 executive: The "end" of the US dollar stablecoin or no code, the front end only shows USD

PANews September 14th news, according to Cointelegraph, Mert Mumtaz, CEO of RPC node provider Helius, said that as the exchange abstracts differently denominated stablecoins on the backend and only provides users with the "dollar" option, stablecoins pegged to the dollar will eventually lose their price code. Mumtaz said the bidding war for Hyperliquid’s USD stablecoin (USDH) and the proposal by several companies to return 100% of their proceeds to Hyperliquid, suggesting that the stablecoin industry has been “commodified.” Many companies are expected to issue their own stablecoins in the future, and many existing stablecoin issuers will also build their own payment chains, which may lead to liquidity fragmentation. The best solution to this liquidity problem is that the exchange accepts all stablecoins directly and converts them to the desired face value on the backend without the user seeing what is going on. "The end result is that you can't see the code at all. The application will only show "USD" instead of USDC, USDT or USDX, and they will exchange all currencies on the backend via a standardized interface."