Former Tether CEO is developing a yield-based Stablecoin project Pi Protocol, expected to launch in the second half of this year

PANews reported on February 19 that according to Bloomberg, Reeve Collins, one of the original founders of Tether, is launching his own Stable Coin. Collins' Pi Protocol will provide holders with the yield they may earn from tokenized real-world assets. This is different from earlier Stable Coins such as USDT and USDC, which are pegged to Fiat Currency, and Algorithm-backed DAI, which simply tracked the value of the US dollar. The Stable Coinprotocol will be launched on the Ethereum and Solana blockchains in the second half of 2025. It's unclear how the Stable Coin will generate yield, however, some of the existing tokens will be distributed through revenue generated by coin-generated "real-world assets" such as U.S. Treasuries. It is reported that Collins served as the CEO of Tether from 2013 to 2015 after co-founding Tether with Brock Pierce and Craig Sellars.