With the Genius Act, almost every major bank and financial institution has the ability to issue a stablecoin. These stablecoins are required to be backed by short-term T-Bills, essentially making them a form of T-Bill. However, stablecoin users treat them as if they are dollars. Borrowers pay billions of dollars in fees to borrow these stablecoins on platforms like AAVE and Morpho, creating an additional yield opportunity for the issuers. Isn’t this an opportunity for smart money to earn bett...