**[Former Standard Chartered Executive: Stablecoins Need to Offer Yields to Enhance Competitiveness]** Odaily Planet Daily reports that Will Beeson, founder of the RWA liquidity platform Multiliquid and Uniform Labs, as well as former head of tokenized assets at Standard Chartered Bank, stated that in the increasingly competitive stablecoin market, providing yields to users will become a key factor. He pointed out that the "GENIUS Act" prohibits issuers from directly paying interest or yields to holders but does not restrict third parties, such as exchanges, from offering interest or rewards. For example, Coinbase currently pays interest on USDC balances held on its platform. Beeson noted that this "loophole" has become a focal point of contention between Wall Street and the crypto industry. Banking lobby groups are concerned that high-yield stablecoins could siphon off up to $6.6 trillion in bank deposits and are pushing Congress to further tighten related provisions. (Decrypt)