Authors: CNBC, MacKenzie Sigalos; Jordan Smith; Talia Kaplan
Original Title: What's driving Wall Street stablecoin interest? Trillions up for grabs in the future and banks getting ready for it
Translated and Compiled by: BitpushNews
Despite the brief market pullback this week and the overall weakness in crypto concept stocks, the stablecoin track remains hot. Recently listed Circle (CRCL) has strengthened again, with its stock price rising nearly 8% on Thursday and accumulating a total increase of over 600% since its debut on the New York Stock Exchange earlier this month. Behind this stablecoin wave, Wall Street is quietly placing its collective "bet".
Wall Street is eyeing not just coins, but the "next-generation payment infrastructure"
Recently, Bridge, a crypto payment infrastructure company acquired by Stripe for $1.1 billion, has been in the spotlight. The CEO and co-founder Zach Abrams told CNBC's Crypto World: "Stablecoins will be the biggest transformation in global fund movement in decades, just like the moment of credit cards."
He believes that stablecoins are not just a new financial instrument, but an entirely new fund transfer platform. Credit cards created a trillion-dollar payment market, and stablecoins may replicate this path, or even do better.
Stablecoin use cases are moving from crypto to the real world
This assessment is not mere speculation. Abrams revealed that tech giants including SpaceX, ScaleAI, and Remote.com are already extensively using Bridge's stablecoin services:
ScaleAI, an AI data annotation company recently invested in by Meta for $14 billion, pays global annotators through stablecoins
SpaceX uses Bridge to convert and remit Starlink service fees paid by customers from various countries back to the US
Abrams points out that this "stablecoin cross-border bridging" scenario is far broader and more practically needed than people imagine.
Traditional finance's entry: Signals from Fiserv and Mastercard
Earlier this week, payment giant Fiserv officially launched a stablecoin product, which Mastercard immediately integrated into its payment network. Abrams states: "As regulations gradually become clearer, traditional financial institutions will inevitably accelerate their layout."
The current stablecoin market is around $400 billion, primarily dominated by Tether and Circle. Abrams predicts it will grow to trillions of dollars, and traditional financial institutions must start acting now if they want a share.
"This market cannot be supported by just a few crypto companies. To reach a trillion-dollar scale, traditional banks must participate in a significant portion of circulation and settlement."
Wall Street's "token enthusiasm" continues
Beyond stablecoins, Wall Street's interest in "asset tokenization" continues to heat up. New York startup platform Republic announced this week that users can purchase tokenized equity in private tech companies like SpaceX, OpenAI, and Anthropic for as low as $50, far below the traditional private market's thousands of dollars investment threshold.
Ripple's turmoil continues, regulation evolves
Meanwhile, stablecoin regulation continues to progress and negotiate. On Thursday, Ripple's $50 million settlement request with the US Securities and Exchange Commission (SEC) was rejected by a federal judge, reasoning that neither party has the right to unilaterally decide the settlement.
Ripple-related token XRP dropped over 2% that day. Ripple's Chief Legal Officer Stu Alderoty published the company's subsequent response options on X platform.
Additionally, Crypto World disclosed that the Trump administration is considering allowing crypto assets to be included when applying for federal housing loans, which may further promote the integration of crypto assets with the real financial system.
In conclusion:
From being viewed as a "crypto tool" to gradually entering mainstream payment and financial systems, stablecoins are experiencing their "credit card moment". A competition to reshape global fund movement rules has just begun.
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