Stablecoins has become the backbone of Internet payments, with adoption now exceeding the major onchain card traditional networks, according to Noam Hurwitz, head of engineering at Alchemy.
Hurwitz told Cointelegraph that Stablecoins saw the “explosive” adoptionAdding that they are “becoming a default layer of negotiating for the Internet.”
Companies like Paypal and Stripe includes stablecoins To use onchain infrastructure, enabling faster and cheaper transactions. “They have already revealed Visa and Mastercard in the onchain volume of 7%,” said Hurwitz, who signed a decisive transition to how money moves online.
Alchemy, which provides infrastructure to some of Stablecoin’s largest ecosystems, is in the middle of this change. Hurwitz said Alchemy is “The Onchain Provider for Robinhood Wallet” and Stablecoin’s Powers are flowing for giant finishes such as visa, stripe, circle, and paypal.
Related: The European Commission Downplays Stablecoin Risks, Counter ECB Warning
Stablecoins used for different purposes
Hurwitz said Stablecoins make money “cheap, fast, universal, and safe to move.” These features became popular with them for a variety of purposes, with a wide adoption that emerged across Cross-border payments and predicting markets such as polymarket.
He added that Stablecoins became a huge buyer of US treasurys, with Tether (USDT) unanimously make up $ 13 billion in revenue last year while holding around $ 113 billion in US debt. “Tokenized currency is the basis of the tokenized financial system,” said Hurwitz, who calls for a recent financial change built on this foundation “Kapana -Excellent.”
Hurwitz said Stablecoins are already working as a “default metal” for Internet payments in many respects but that -that -Flag challenges derived from the fragment blockchain landscape.
Institutions, he explained, wanted to move quickly but should assess provider’s reliability and counterparts, especially in a nascent industry. “Can a small start of grade-grade operations support while building and measuring the services they need?” He asked.
Hurwitz pointed to Kinexys, a tokenized bank deposit launched by JP Morgan, as a major milestone. Deposit permission to allow institutional clients to access deposits that bring yield to a public blockchain with “24/7 settlement, close to real-time liquidity and the potential ability to pay interest to holders.”
Related: Hong Kong has announced new Stablecoin policies and solocked bond plans
Interest in stablecoins surge with new regulations
Last week, the US Senate passed the Guide and Establishment of National Change for US Stablecoinsor Genius Act, a landmark bill that establishes federal guards for stablecoins.
“In the recent passage of the Genius Act, the regulation of the scene is becoming clearer and more structured, benefiting established financial players while also encouraging change,” Hurwitz said.
Meanwhile, Hurwitz taught major technical bottlenecks in improving developer and end-user experience despite strong growth. “Companies benefit a lot from repairing crypto metals, but want to decompose the user’s experience from the underlying technology – and doing so it takes deep technical expertise,” he explained.
At the forefront, Hurwitz hopes that most financial services will deploy their own blockchains, especially layer 2 networks, to better measure and make their ecosystems more money.
He foretold that infrastructure improvements would bring “seamless crosschain interoperability” between these networks, which enables a more connected and efficient financial system developed in Stablecoins.
https://www.youtube.com/watch?v=FDPMJHTQ5am
Despite Hurwitz’s optimistic views on Stablecoins, a new Bank for International Settlements (BIS) reports a challenge to the notion that they are can serve as money in a modern financial system.
The BIS annual report on economic 2025 claims Stablecoins failed critical notice, elasticity, and integrity tests. The organization described Stablecoins as “digital bearer instruments” resembling financial assets rather than actual currency.
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