Golden Finance reported that the competition for stablecoin dominance is entering its third phase, and companies such as Tether, the largest token issuer and the second largest token issuer, are consolidating their position as the industry faces strengthening regulation such as the EU crypto asset market (MiCA) system and U.S. legislation under review by Congress. Ran Goldi, senior vice president of payments at Fireblocks, said the latest phase will include banks, big and small, as well as existing payment companies, who are weighing the best way to integrate tokens into their existing businesses, and Goldi said it expects up to 50 stablecoins to appear by the end of this year.