For the past few years, stablecoins have been defined by a narrow reality: essentially a two-horse race between Tether’s USDT and Circle’s (CRCL) USDC, with most activity concentrated on crypto-native exchanges.
What comes next looks materially different, Alchemy co-founder and President Joe Lau told CoinDesk in an interview.
The near-term trajectory for stablecoins has lots of directions, Lau said, but one theme dominates: stablecoin adoption is “exploding.” The reason, he argued, is that stablecoins deliver tangible advantages that traditional payments and banking systems struggle to match, most notably 24/7 settlement and digital-native money movement.
“Stablecoins and deposit tokens are rapidly becoming the consumer and enterprise layers of the modern internet-native financial system. With this foundation, money can move with the safety of the banking system and the speed of the internet,” Lau said.