The future of money is a hot topic, with industry experts gathered at Paxos’ NYC event agreeing that stablecoins are reshaping global finance. The event took place on May 21, 2025, at 7:53 p.m., where speakers across four panels discussed how stablecoins are at the forefront of this financial revolution. Sergio Mello, head of stablecoins at Anchorage Digital, emphasized the rapid pace of development in digital assets, stating that the next three years will be crucial for the industry.
Stablecoins are no longer just niche financial instruments but are seen as a fundamental upgrade to the global monetary system. Mello highlighted the importance of merging the transport layer and the value layer into the same instrument, making stablecoins a better representation of fiat and a more efficient way to transfer money. He predicted a critical mass of institutional adoption within the next 12 to 24 months, particularly in payments.
While stablecoins were once associated with crypto speculators, their use has expanded to mainstream applications such as cross-border remittances, B2B payments, and retail spending. Raj Dhamodharan, EVP at Mastercard, noted that stablecoins now serve as the “money movement layer” for various use cases, enabling users to choose between fiat and stablecoin currencies for transactions. Ahmed Zifzaf of Worldpay discussed how stablecoins are utilized for real-time treasury management, accelerating payment and financial flows.
The adoption of stablecoins by financial institutions varies, with some banks hesitant due to legacy tech stacks, compliance risks, and cultural resistance. Luca Cosentino of Cross River highlighted the challenges faced by banks in entering the crypto space, while Sunil Sachdev from Fiserv mentioned the interest among smaller banks in leveraging stablecoins for low-cost deposits and differentiation. Mark Greenberg of Kraken suggested that Americans might be slower to adopt stablecoins compared to other countries, emphasizing the benefits of a global dollar in regions with high inflation and limited yield.
The evolution of stablecoins is driven by advancements in infrastructure, with traditional financial institutions exploring ways to integrate stablecoins into their operations. Jonathan Levin, CEO of Chainalysis, emphasized the importance of data in tracking asset stability and managing risks in a decentralized environment. As legislative efforts progress in Washington, the focus is shifting towards establishing durable regulations for stablecoins to ensure market integrity and transparency.
In conclusion, the road to 2027 will determine how global finance is shaped by stablecoins, as they transition from an experiment to a mainstream financial tool. The industry is moving rapidly towards widespread adoption and integration of stablecoins into various financial services, offering new opportunities for banks, corporations, and regulators alike. The future of money is being redefined by stablecoins, setting the stage for a transformative shift in the global financial landscape.
