The chief technology officer at crypto exchange Bitfinex Paolo Ardoino told The Block in an interview that the RGB protocol represents the “best opportunity” for issuing stablecoins on Bitcoin. Ardoino views RGB as the the “rightful successor” to Omni after Tether discontinued its use to issue the USDT stablecoin.

“With regard to Omni, we believe RGB actually represents the best opportunity to have a modern, scalable, client-side smart contract system that allows tokens on Bitcoin,” Ardoino said. “Many prominent people in the Bitcoin community are in fact aligned in supporting RGB, and we believe that RGB integrates all the right ingredients to be the rightful successor of Omni.”

RGB is a smart contracts system and off-chain protocol for Bitcoin and the Lightning Network, which allows …