Y Combinator, a well-known incubator in Silicon Valley, recently released its latest 20 “Requests for Startups” (RFS) on its website. RFS has been a long-standing tradition for Y Combinator, where they periodically list the key areas of focus for their incubation teams.
The current RFS covers areas such as machine learning, artificial intelligence, defense technology, biotechnology, healthcare, and climate technology. Among these 20 requirements, only one is related to cryptocurrency, namely “Stablecoin Finance”. Brad Flora, a partner at Y Combinator, pointed out that despite the controversies surrounding the practicality of blockchain technology, the value of stablecoins in areas such as cross-border payments and reducing transaction costs is undeniable.
Over the years, Y Combinator has effectively incorporated stablecoins into its operations, and the entry of payment giant PayPal into the stablecoin field is a prime example of validating the value of stablecoins. However, despite the issuance of stablecoins worth $136 billion to date, “only about seven million people have used stablecoins, over 500 million people live in countries with inflation rates exceeding 30%, and US banks hold $17 trillion in customer deposits.” Brad Flora believes that these are all conditions for further growth in the stablecoin field.
However, the major stablecoin issuers can be counted on one hand, and the main liquidity providers can be counted on a few fingers. Therefore, Y Combinator hopes to see more excellent teams emerge in this field. Brad Flora wrote:
