Stablecoin adoption grows with regulation but faces infrastructure and privacy hurdles
At Consensus Miami 2026, executives from MoonPay, Ripple, and Paxos said regulation has accelerated stablecoin adoption, but infrastructure, privacy, and distribution remain major obstacles. Richard Harrison of MoonPay noted that the GENIUS Act provided regulatory clarity, acting as a permission slip for traditional finance firms to enter the stablecoin market. He compared stablecoin adoption to electric cars: the core product works, but supporting infrastructure is crucial. Brent Perrault of Paxos highlighted unresolved privacy issues on public blockchains, where transaction amounts and flows are exposed. Context includes the shift of stablecoins from crypto niche to institutional priority, driven by regulatory progress. Jack McDonald of Ripple emphasized that institutions require regulated products, strong counterparties, and trusted custody to move meaningful volume on-chain. Ripple focuses on utility over market cap, using stablecoins for payments, corporate treasury, and capital markets. Perrault added that newer regulated stablecoins compete through trust, distribution, and incentives. For wallet and key holders, these developments mean greater stability and integration with traditional finance, but also privacy risks and need for trusted infrastructure. Users should understand that public blockchains expose transaction data, and partial privacy solutions may not suffice. As adoption grows, secure custody and awareness of regulatory frameworks become essential for managing stablecoins safely.
Key facts
- GENIUS Act provided regulatory clarity, enabling traditional finance firms to enter stablecoins.
- Stablecoins represent a small share of global remittances but could reach 10% in five years.
- Institutions require regulated products, strong counterparties, and trusted custody for stablecoin use.
- Privacy remains unresolved on public blockchains, exposing transaction amounts and flows.
- Infrastructure for real-world stablecoin payments, like rent or coffee, is still underdeveloped.