Stablecoins Are the Dollar’s Digital Future

Back on January 15, 1520, the Kingdom of Bohemia started minting silver coins, stamped with the Bohemian lion. They called them Joachimsthalers, after the town where they were made. Over time, that name shortened to "talers" and eventually evolved into the Spanish dólar. Fast forward a couple of centuries, and Alexander Hamilton, U.S. Treasury Secretary, studied the silver in those Spanish coins. That’s how the U.S. dollar was born.

Now, in 2025, we’re swapping silver for silicon. The U.S. is leading the charge to digitize the world’s reserve currency with dollar-backed stablecoins. Why does this matter? Because it’s about keeping the dollar on top in a digital world—and that’s huge for global trade.

This summer, we’re expecting a new U.S. stablecoin bill, building on the GENIUS Act. It’ll set clear rules for stablecoins: licensing, oversight, audits, and enforcement. It balances federal and state power and ties blockchain tech to stablecoins. This isn’t just paperwork—it’s a big deal. It’ll make stablecoins legit, unlock their benefits, and show other countries how to do the same.

Think about it: just like 2023, in 2024 there was more settlement using stablecoins ($27 trillion) than Visa and Mastercard combined ($25 trillion). That’s a whopping statistic. If you also consider cross-border payments, stablecoin usage has already jumped tenfold since 2020, hitting $2.5 trillion a year.

What happens when this bill passes? Those numbers could skyrocket further. It’s the next step to make digital assets real, usable, and secure. It’s time to replace our clunky, outdated global payment systems. Less cost, less hassle—for banks, businesses, and everyday people.

Let’s talk about the current system. It’s a mess. Global cross-border payments are slow and expensive, run on SWIFT, a 50-year-old network that predates the internet. SWIFT, based in Brussels, doesn’t even move money—it’s just a messaging system between banks. It can take up to five days. And the costs? They’re sky-high—not from SWIFT itself, but from all the intermediaries: banks, fees, manual processes. Businesses pay big for transfers and exchange rates. It’s like using a horse and cart in the age of cars.

Now, compare that to stablecoins. They settle in seconds, not days. They’re cheaper—no intermediaries, just direct transfers. Stablecoins are pegged to the U.S. dollar, so there are no wild price swings or speculation. They’re digital dollars, plain and simple. Need to send money across the world? It’s instant, secure, and works even in places with weak banking systems. Compliance and payment tracking? That can be integrated too.

Stablecoins do three big things: they give us a single global transaction record, cut out messy correspondent banking, and make treasury management instant for businesses. Merchants and banks will jump on this first. Why wouldn’t they? Merchants won’t have to wait three days and pay 2% fees. Banks get one global network instead of a patchwork of systems, countless middlemen, and engineering. I predict in five years, most banks will be tied into stablecoins for payments, both local and global.

Take Stripe—it’s made online payments easy for businesses. You enter your card details, it goes through a secure gateway, and boom, payment’s done. Stablecoins take that idea further by making settlement instant, and Stripe’s stablecoin business is poised to grow exponentially. Merchants are already making integrations. Stripe cuts out middlemen, lowers fees, and lets everyone connect globally, powered by blockchains and stablecoins.

The Stablecoin Act is going to shake things up. It’s a win for global trade, moving assets on a completely better rail and strengthening the U.S. dollar. It’ll kickstart digital economies—think gaming, social media, loyalty programs, even micropayments for AI services. The losers? Cost, friction, and inefficiency. The GENIUS Act is aptly named. It’s a massive step forward, and we’ll all feel the impact.