Stablecoins are only at the beginning. We’ve seen vertical growth of the USD onchain (USD is 99% dominant), but almost no horizontal adoption (other currencies). The dollar dominates fiat, but programmability changes the game. Every currency will go onchain and central banks will make sure of it (not via CBDCs). Payment chains will want every currency natively. If you do business worldwide, you’ll still want to settle in the local one. That means rails. Everywhere. Connecting every asset to every pathway for every chain. First up, EURC. This week. Stargate.
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