FT Partners Proprietary FinTech Research:
Stablecoin Payments: Crypto Finds its Killer App?
Executive Summary:
Stablecoins have received significant attention in recent months, particularly since Stripe's $1.1 billion acquisition of stablecoin player Bridge, along with several noteworthy product launches signaling new entrants into the stablecoin ecosystem. Clearly, momentum is building in the stablecoin market. Crypto skeptics have historically pointed to the lack of a "killer use case" as the primary basis for their skepticism. However, with stablecoin adoption growing in cross-border payments, from peer-to-peer remittances to B2B payments, as well as treasury management, it appears that the killer use case has finally arrived. We see the infrastructure of the stablecoin market evolving similarly to credit card and stock trading infrastructure. At face value, these ecosystems may appear simple, with large networks and exchanges dominating; however, the way that different players access these markets can vary widely, and there are many layers of service providers catering to different use cases for consumers, businesses, and investors. The stablecoin world is similarly more complex than it seems at face value, as stablecoins can be accessed on multiple blockchains and there are multiple use cases for both consumers and businesses, not to mention the complexities in adding stablecoins as options in existing payment flows and the potential need for liquidity and conversion to fiat. Subsequently, we see a number of different players in the stablecoin ecosystem ultimately becoming successful, since there is room for a diverse set of infrastructure providers catering to many use cases.
Key discussion topics of the report include:
- An update on the current state of the stablecoin space, and a discussion of the use cases of stablecoins for consumer and B2B payments
- An overview of leading companies enabling and leveraging stablecoin payments globally
- Exclusive interviews with executives from six leading companies leveraging stablecoins and Crypto payments
- Profiles of 20+ highly relevant companies in the space
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