The worlds of traditional payments and stablecoins, the latter of which combine the price stability of fiat currencies with the speed, availability and programmability of blockchain, are poised for convergence within financial services. If things take off as market observers expect, it could mark the start of the radical remaking of the industry, and traditional financial (TradFi) companies stand to benefit from and be greatly challenged by the rise of stablecoins. With the recent passages of the GENIUS Act and the CLARITY Act, the financial industry is preparing for both, working to take a leading position in stablecoin cross-border payments, real-time settlement of business-to-business payments, integration with payment service providers, fintechs and card networks, merchant adoption in e-commerce, and the introduction of bank-issued stablecoins.
