According to Alchemy’s engineering director Noam Hurwitz, Stablecoins has become the backbone of Internet payments and now adopts the main traditional card network with OnChain volume.
Hurwitz told Cointelegraph, Stablecoins have seen “explosive” adoptionadding that they “become the default billing layer for the Internet”.
Companies like PayPal Stripes are integrating stable To take advantage of the OnChain infrastructure, faster and cheaper transactions are available. “They have exceeded the OnChain volume by 7% of Visa and Mastercard,” Hweez noted, indicating a decisive shift in online movement of currency.
Alchemy provides infrastructure for some of the largest Stablecoin ecosystems and is at the center of this transformation. Alchemy is an “alternative provider of Robbins wallets” and is a stable stock flow for fintech giants such as Visa, Stripe, Circle and Paypal.
Related: European Commission downplays stability risks, anti-ECB warning
Stable coins for various purposes
Hevez said stablecoins make money “cheap, fast, global and safely”. These features make them popular for a variety of purposes and are widely adopted Cross-border payment and forecast markets such as Polymarket.
He added that stablecoins have become a large number of buyers for the U.S. Treasury Department,USDT) generated $13 billion in profits last year only while holding about $113 billion in U.S. debt. “Tokenized currency is the foundation of a tokenized financial system,” said Hewiz, who said the recent financial innovations established at the foundation were “exciting”.
In many ways, Stablecoins has become the “default rail” for internet payments, but challenges arising from the fragmented blockchain landscape, Hurwitz said.
He explained that institutions want to act quickly but must evaluate the reliability of providers and the risk of their opponents, especially in nascent industries. “Can small startups really support enterprise-level operations when they build and scale the services they need?” he asked.
Hurwitz noted that the mark-up bank deposit by JP Morgan was a major milestone. The licensed deposit token enables institutional clients to obtain a “24/7 settlement, close to real-time liquidity and potential ability to pay interest to holders” on the public blockchain. ”
Related: Hong Kong reveals new Stablecoin rules and token bond plans
Interest in the surge in stability of new regulations
Last week, the U.S. Senate passed Guiding and building innovation for the United States stable countryor Genius Act, a landmark bill to establish a federal government for stablecoins.
“With the latest passage of the Genius Act, the regulatory landscape has become clearer and more structured, which benefits established financial players, while also encouraging innovation,” Hewitz said.
Meanwhile, Hurwitz pointed out that despite strong growth, key technical bottlenecks in improving developers and end user experience are still being done. “Companies benefited greatly from settled on crypto railroads, but wanted to free user experience from basic technology and require deep technical expertise,” he explained.
Looking ahead, Hurwitz hopes that most financial services will deploy their own blockchains, especially the Layer 2 network, to better scale and profit from their ecosystem.
He predicts that infrastructure improvements will drive “seamless cross-chain interoperability” between these networks, thus enabling a more connected and efficient financial system built on Stablecoins.
https://www.youtube.com/watch?v=fdpmjhtq5am
Despite Hurwitz’s optimistic view of Stablecoins, the new Bank for International Settlement (BIS) report challenges their ideas. Can be used as money In the modern financial system.
BIS Annual Economic Report 2025 claims Stablecoins failed critical singleness, resilience and integrity testing. The organization describes Stablecoins as a “digital holding instrument” that is more like a financial asset than actual currency.
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