[Paradigm Co-Founder: The End of the Zero Interest Rate Era Has Sparked a Stablecoin Supercycle] Paradigm co-founder Matt Huang stated in an article that people used to joke that cryptocurrency was a product of the Zero Interest Rate Policy (ZIRP) era (where loose monetary policy led to the rise of speculative assets). Ironically, it is precisely the end of the zero interest rate era that has sparked a stablecoin supercycle: cloud-based dollar banking, the widening interest rate differential compared to traditional finance, and stablecoin issuers earning billions of dollars for global distribution.