Stablecoins have been steadily evolving, ultimately becoming the largest use case in the cryptocurrency space. While progress may have seemed slow at first, developments are now accelerating rapidly—it feels like we’re on the verge of a breakthrough moment.
The past month has made this clearer than ever before.
Stripe and Meta, two of the world’s largest technology companies, have both entered the stablecoin arena. Stablecoin transaction volumes have officially surpassed those of Visa. Despite political resistance, regulatory clarity now seems inevitable—it’s only a matter of time.
The stablecoin era is here. What once progressed slowly now appears to be happening all at once.
Stripe’s Global Stablecoin Accounts
Stripe has quietly launched financial accounts for stablecoins, enabling businesses in over 100 countries to hold, send, and receive funds in USDC or USDB—an infrastructure stablecoin developed by Bridge.
This effectively functions as a bankless US dollar account.
Behind the scenes, Stripe is leveraging its acquisition of Bridge to handle stablecoin custody and fund operations. Crucially, these accounts are backed 1:1 by US dollar reserves held at BlackRock.
No ACH delays, no foreign exchange fees, and no need for local banking infrastructure. Just programmable, internet-native dollars.
This is the future that PayPal should have built.
Meta’s Stablecoin Revival: WhatsApp Payments Are Coming
Reports indicate that Meta is in discussions with cryptocurrency firms to reintroduce stablecoins on its platforms—including WhatsApp.
Yes, this is the same Diem project that Congress scrutinized and pressured Meta to shut down three years ago.
Scale is the key factor here. WhatsApp boasts over 2 billion users. If Meta succeeds, stablecoin adoption won’t just be a trickle—it will be a flood.
Stablecoin Volumes Surpass Visa
According to Bitwise’s Q1 2025 crypto market review, stablecoins processed $27.6 trillion in transactions in 2024, surpassing both Visa and Mastercard.
A staggering 95% of these transactions were settled on Ethereum. That’s right—Ethereum is now one of the most important financial rails on the planet.
Let that sink in.
The Developer Gold Rush: Bridge and USDB
Bridge’s USDB is quickly becoming one of the most developer-friendly stablecoins on the market.
Unlike traditional issuers who retain reserve earnings, Bridge shares them—allowing both developers and users to participate. Developers can earn rewards simply by switching to USDB via API.
- Need to exchange for USDC? Fee-free.
- Minting and redemption? Globally accessible.
- Treasury collateral? Held at BlackRock.
If stablecoins are the new dollar, then Bridge is building the Stripe of programmable money.
The GENIUS Act: Setback, Not Defeat
Last week, the US Senate failed to pass the GENIUS Act—the first serious attempt at federal stablecoin legislation.
The bill did not pass a procedural vote by 48 to 51, not due to a lack of support, but because of last-minute changes by Republicans that took key crypto-friendly Democrats by surprise.
Even some of the bill’s co-sponsors voted against it, citing concerns about rushed amendments and transparency issues.
Still, interest remains. Senator Warner called stablecoins “undoubtedly part of the financial future” and promised to revise and pass the bill as soon as possible.
The GENIUS Act would have:
- Established federal oversight for stablecoin issuers
- Set capital and liquidity standards
- Enforced anti-money laundering compliance under the Bank Secrecy Act
Critics argued that the regulations were too lenient—exactly what crypto companies had hoped for. But one thing is clear: the US is choosing to regulate stablecoins onshore rather than letting them develop overseas.
This vote may have failed, but the next one could pass as early as this week.
What It All Means
Stablecoins are no longer just a “crypto use case”—they are the use case.
And the institutional pieces are falling into place:
- Stripe is building the wallet.
- Meta is designing the interface.
- Ethereum is the backend.
- Developers are constructing everything else.
In 2020, stablecoins were a novelty. By 2024, they had grown into a multi-trillion-dollar industry. Now, in 2025, the world’s largest corporations and lawmakers are putting stablecoins to the test.
The financial system is changing—slowly at first, and then all at once.
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Frequently Asked Questions
What are stablecoins?
Stablecoins are digital currencies pegged to stable assets like the US dollar. They combine the benefits of cryptocurrencies—such as fast transactions and programmability—with the price stability of traditional fiat currencies.
How do stablecoins work?
Most stablecoins maintain their peg by holding reserve assets (e.g., cash or Treasury bonds) equivalent to the value of the coins in circulation. Some use algorithmic mechanisms to balance supply and demand.
Why are companies like Stripe and Meta adopting stablecoins?
Large tech firms recognize the efficiency of stablecoins for global payments—lower fees, faster settlement, and reduced reliance on traditional banking infrastructure. This aligns with their goals of creating seamless, borderless financial experiences.
Are stablecoins regulated?
Regulation is still evolving. The GENIUS Act represents one effort to create a federal framework in the US. Until then, stablecoin issuers often operate under state-level regulations or existing financial licenses.
What is the difference between USDC and USDB?
USDC is a widely adopted stablecoin issued by Circle. USDB is an infrastructure stablecoin developed by Bridge, offering features like revenue sharing for developers and seamless API integration.
Can stablecoins really replace traditional payment networks?
With transaction volumes already surpassing Visa, stablecoins demonstrate significant potential. However, widespread adoption will depend on regulatory clarity, user trust, and continued technical development.