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This article discusses how stablecoins are becoming mainstream for online and international payments, drawing parallels to the impact of WhatsApp on messaging costs. It explores the potential for stablecoins to transform financial transactions and reinforce the dollar's dominance in the global economy.
- Stablecoins moved $12 trillion last year, approaching Visa's $17 trillion but at much lower cost — like WhatsApp did to messaging, they're on track to make money transfer nearly free and invisible.
- Real companies are already using them for practical reasons: Stripe/Fidelity cut payment fees, SpaceX routes around broken banking systems in Argentina and Nigeria.
- New US laws (Genius Act, proposed Clarity Act) are giving stablecoins regulatory legitimacy needed for mainstream adoption.
- Circle and Tether already hold ~$140 billion in US government debt (top-20 holder territory), and could become the largest holders of US debt by 2030 — meaning stablecoins are quietly cementing dollar dominance globally.