Page 27 - gs250701

CoverStory

their bank accounts." It announced a collaboration with Stablecoin competition
crypto wallet OKX to launch the OKX card.
There are bank alternatives to traditional stablecoins.
The card company also is teaming up with payment JPMorgan Chase has JPM Coin. It also introduced a U.S.
company Nuvei and the crypto platform Circle to give dollar deposit token, JPMD, for its institutional clients.
merchants the option to receive payouts in the form of The idea is to allow clients to easily transfer money
stablecoins, such as Circle's USDC, regardless of how across borders past the close of markets. It operates on a
consumers choose to pay. Mastercard also is working blockchain platform, and the tokens are held by actual
with blockchain fintech Paxos to enable this functionality deposits held by the bank.
across Paxos-issued stablecoins. Other major banks, like Bank of America, Citigroup and
Wells Fargo, are rumored to be in negotiations about a
Even lesser known companies, like Bolt, a checkout, shared stablecoin. This may be driven, at least in part,
identity and payments platform, are getting into the act. by perceptions that interchange revenues will eventually
Bolt, on June 27, touted stablecoins as a benefit to both decline as stablecoins take hold.
sides of payment transactions. "For merchants, it means
faster settlement, lower transaction fees, and easier cross- Riddle predicted that community banks will follow suit,
border payouts—especially relevant for marketplaces," the because their interchange revenues will be impacted, and
company wrote. they will want to offer opportunities for lower-cost value
exchanges for their merchants.
"For shoppers, stablecoins offer a private, instant and
borderless way to pay, no credit card, bank account or Patti Murphy is senior editor at Green Sheet and president of ProScribes
international fees required." "When it comes to blockchain Ink, (www.proscribes.net). You can also follow her blog, Today in
and digital assets, the benefits for mainstream use cases Payments, at (Todayinpayments.com), and her podcast, Merchant
are clear," said John Lambert, chief product officer at Sales Podcast, co-hosted with James Shepherd at www.ccsalespro.
Mastercard. com/podcast.

"To realize this potential we need to make it easy for
merchants to receive stablecoin payments and for
consumers to use them."
Snapshot of Upcoming Events
Still, stablecoin payments won't replace credit card
transactions, at least not any time soon. Riddle noted
that while instant payments and same-day ACH have
grown substantially in recent years, they have not been
displacing existing payment methods. "I think we're
going to see shifting preferences among consumers
and businesses to leverage a payment stream that is
applicable to their use case," he said.

Hence the interest in stablecoins as expressed by large July 30 - 31, 2025
retailers, like Walmart and Amazon. "The combination Chicago Marriott Downtown
of stablecoins and instant payments certainly will Magnificent Mile, Chicago
have an impact on credit and debit card interchange https://midwestacquirers.org/register/?ac=register
for issuers, over time," Riddle said. The emphasis on
"over time."

Riddle pointed out that the vast majority of stablecoin
transactions thus far have been for business-to-
business payments, particularly for cross-border
transactions. That's because stablecoins streamline
foreign exchange processes by providing a standard
blockchain framework for both buyers and sellers.

Riddle added that crypto platforms like Coinbase
and Robinhood already connect to instant payment August 19 - 31, 2025
networks, allowing businesses and consumers to
quickly move money in and out of their digital wallets. Caesars Palace, Julius Ballrooms - Las Vegas, NV
So clearly, stablecoins have feet, and will be taking off https://www.allwirelessexpo.com/register
fast once the GENIUS Act is passed.

27