Stablecoins

“It may be lower costs, but I would argue Visa and MasterCard can make the cost practically zero if they wanted to, but their brands offer much more value than just pushing money to someone.”

“So I think microtransactions will just be necessary for that economy to exist, the sort of agentic economy. And then on the flip side, they're now eminently possible. Because of stable coins.”

“And stable coins are today relatively unergonomic. So if you're a human, you know, you have to go jump through a bunch of hoops. But if you just give an agent a budget, they can easily, you know, take dollars, move into stables, or, you know, just use a shared…”

“Right now you can be a Stripe user in, I can't remember what the exact number is, but around 60 countries in fiat, but you can be a Stripe user in Sablecoins and I think about a 150 countries.”

“I think the introduction of a stable coin in the past, Couple of years, maybe solidifying solidifying US dollar's dominance in a way about RMB is not pushing as hard or as fast into that direction.”

“An AI agent is going to have a hard time signing up for a credit card at a bank, and you have to show your ID, which, you know, only human beings currently can get this government-issued piece of paper. But an AI agent can spin up a self-custodial crypto walle…”

“Banks do fractional reserve. So they've lent out most of the money, and that's partly why they're so heavily regulated. They're doing fractional reserve. So in a stablecoin issuer is a hundred percent reserve. The only risk they're taking is At most a 93 day U…”

“Now we're seeing stable coins just grow like crazy, and it's totally uncorrelated with, so even if the trading markets are down stable coins are growing like three or three or four X per year.”

“One of the big ones is tokenized equities. That's something we've been working on for a long time. So just like you know, stable coins got the tokenized money, you know, dollars. And it got democratized access for everybody. We're now doing that with stocks fo…”

“Like, I, at this point, I think stable coins will get there faster than the government will be able to do it.”

“Two places that we're seeing tons of interesting stuff is one, any kind of cross-border use case, where if you want to send money to a hundred countries, it's already the case that stablecoin's a much better way to do that than anything else. And that's where …”

“There's the biggest crypto exchanges are not in America. Today the biggest blockchains, the biggest stable coin, they're not America based.”

“The Fed has a pretty good tech team. Like, their systems are actually pretty good. If you think about it, the U.S. Right now, through the Fed, has the capability to move money and to clear money through all these institutions, 24 seven. Faster than stablecoins…”

“I think like you fast forward you know, a few more years and we're going to see increasingly payouts to all types of workers coming that way. And eventually Consumers having it.”

“Mark Zuckerberg's Meta is planning a stablecoin comeback in the second half of this year, eyeing a third party vendor as a key partner to power payments.”

“And this progress is in large part due to stablecoins, where borderlessness allows fintechs to set up infrastructure that works everywhere. Global by default financial services are for the first time a real possibility.”

“In 25, the price of Bitcoin dropped precipitously and is now 50% down from October, but stablecoin payments volume doubled to around 400,000,000,060 percent of which is estimated to represent B to B payments.”

“We launched Machine Payments, a way for developers to charge agents directly for API calls, MCP usage, and HTTP requests using stablecoin microtransactions.”

“That's our goal is to come out with rules that differentiate between what's the stock, Security, and what is a commodity where the CFTC, the Commodity Futures Trading Commission, can oversee. So meme coins and all that, and stable coins, those are not for the…”

“The TAM Of legal electronic money today is about a 120 trillion dollars, and growing because of monetary easing and things like that, but Of that there's about 60 trillion dollars, which is physical cash and non-interest-bearing demand deposits, so kind of wor…”

“The marginal value of a net new dollar stablecoin coming into the market is essentially zero.”

“Yeah, I don't see that. I think this is a lot like other internet platform markets. Like, everyone doesn't need their own data center. Everyone didn't need their own vertical search engines. Yeah. You know, everyone, you know, there are a lot of things that pe…”

“In the Philippines, or in Mexico, or in Brazil, or in Japan, and other markets, or Australia, Korea, there are stablecoins coming”

“Well, so already today there have been trillions of dollars of loans made in stablecoins through DeFi protocols.”

“Under the Genius Act that got passed into law last year, US regulated stable coins have to have 100% of the assets stored in short term US treasuries.”

“So when customers do that, we actually pass along about a hundred percent of the economics to them for holding those stable coins with us.”

“AI agents, I think, are gonna use stablecoins and wallet, crypto wallets.”

“Stablecoin, that's a true S-curve. It's so efficient way to move money around, so that's actually one that we're very much focused on now.”

“A stable coin is attached to the fiat currency. So it goes down like the fiat currency goes down, and it doesn't give an interest rate. And they're toying around with whether it gives interest rates or not, but there's not a model that I've seen. So, so far it…”

“SpaceX came to us, they're selling Starlink all over the world. And so as a result, they're collecting local, so people are paying for Starlink and, you know, dozens, many dozens of different countries with their cards. So they're getting local currencies in a…”

“The companies who are building on top of this are behind today, but basically making a bet that the cumulative power of all the builders in the world is going to create a better application over N years.”

“So I think that ultimately all like corporate treasuries will move into stablecoins.”

“There will be, ultimately, these stablecoins will recede into the background purely as infrastructure.”

“Felix Pago is a remittance app. It's powered by stablecoins. It doesn't mention stablecoins or crypto anywhere on the website. It just talks about customer value, the fact it has nice integrations, WhatsApp, and things like that.”

“I don't think they would survive the company very long if someone's walking around like, I don't know, I don't think the stable going thing is going to be a thing.”

“People still have no idea how big stable coins are going to be. And I think they discount us because it feels like it's a lot of hype right now, but we're going to look back when stable coins are a hundred times bigger and just think of this moment as so cute.”

“Stable coins are about six percent of the total market cap in terms of tokens. So, 94% are all the other types of tokens, and the clarity act would apply to all of that and provide the regulatory framework for all those other crypto projects and companies.”

“So for example, stable coin volume is now in the trillions. That's adjusted. We try to, we have an adjusted metric we use, which remove, tries to remove a lot of the bots and other kinds of stuff. And very importantly, that's not correlated with trading volume…”

“I think it'll see it in stages, so like the fintechs, the sophisticated fintechs like Stripe and, you know, Robinhood and Revolut and things will be first and then over time you'll see, I think eventually you'll see just like a button on your Chase bank that's…”

“From our perspective at ramp, like We are in the business of optimizing and speeding up the workflows of our customers, and I, in many ways, like, I couldn't care less whether that runs on TACH rails or the card rails or the stable cord rails.”

“Total stablecoin supply is now over three hundred billion dollars, up from basically zero in twenty-twenty-one.”

“The utilitarian difference between a real US dollar and a US dollar crypto coin is like that the US dollar crypto coin is mostly like, it's sort of like gift certificates to scams. It's like, there's not that many things you can actually purchase with it that …”

“I think there'll be something similar with stable coins where they'll be offered at the point of checkout way before people Become super familiar with them, but we're probably only a small number of years away from some mass market.”

“The idea was a crypto token wrapping a real world asset. So that was one of the, part of the original thinking on all this stuff. It's worked incredibly well for dollars. I believe that will work incredibly well for many other kinds of assets.”

“We just worked with Shopify to, like they now offer a stablecoin Payments on all of their checkouts, or they're rolling that out on all of their checkouts. That's just not a thing that would have made sense even three or four years ago.”

“Those, you know, four things Chain scaling, regulatory clarity, stablecoins emerging as a really powerful tool, and then wallets getting simpler and simpler, I think have matured to the point where we've entered the golden age of crypto building, the golden ag…”

“We have companies like Dollar App in Latin, Aspora in India. These are essentially neobank Services that are really built around stable coins and their growth rates are incredible.”

“There's almost two hundred billion dollars of stablecoins in the market”

“The first big unlock that stablecoins has done is basically said, okay, now everyone in the world can access dollars and not just can they access it, they can build with dollars and they can build with dollars on this new programmable platform where there's do…”

“Now alongside the dollar stable coins, you actually have entrepreneurs in all those countries who are creating stable coins for their currencies. So you have a Brazilian real currency. You have a Nigerian Naira currency. You have an Indonesia rupee currency. Y…”

“So I think as stable coins proliferate to the back office, In a lot of companies, people will figure out, oh, the secret key is actually really important. I need hardware, I need PKI, I need trusted displays, all, all of the security stuff, and they will build…”

“The only reason you'd want to use stable coins for domestic transactions is if you were, like, doing something shady, you know? Like, I don't know, like, buying drugs or something.”

“Every economy should have a stable coin. The Indian government should issue a stable coin, and then great place to do it with the Aadhaar system.”

“First, it was the Crypto Summit a couple of weeks ago. Of course, the Genius Act got passed, which really teed up these stable coins, and now the Clarity Act around market structures making its way through Congress.”

“Well, if we as we get stablecoin out, Crypto will have that as well. You'll be able to earn interest on your stable coins, and that'll be a significant business.”

“But now with stable coins, we can just send you the dollars over the weekend. They instantly get to our counterparties. They can send the crypto back. Problem solved. So that, that's a real use case, and that's led to us adopting it.”

“They basically obsoleted American Express travelers checks, which, you know, foreigners and countries with depreciating currencies would like stockpile these things to keep their money.”

“And normal people are not going to switch from credit cards because it's just kind of entrenched. But the way Visa deals with like banks, I think it's going to change because they don't have to care about banks as much anymore. They can actually just do everyt…”

“No, I mean, we've seen very little demand for even just euros. Like it's just been a slog trying to get anyone to want them.”

“I think at some point the, We're, we'll see that accelerated event. It's hard for me to predict whether it's the next two years or some other two years short in the near future, but you'll see this massive kind of growth mode for crypto where we see a trillion…”