Stablecoins have emerged as a significant player in the financial landscape, processing $33 trillion in transactions last year, which is 20 times the amount handled by PayPal. Major financial institutions, including BlackRock and JPMorgan Chase, are now racing to develop their own stablecoins to adapt to the changing market dynamics. Ripple CEO Brad Garlinghouse noted that many Fortune 2000 companies are considering stablecoin usage as they seek to leverage the technology. Ripple itself has launched a stablecoin that now manages over $100 billion in payment volume annually, generating substantial revenue for the company.

World Liberty Financial, co-founded by Donald Trump's sons, has created a stablecoin aimed at providing a more democratized financial system, allowing smaller investors to participate in asset tokenization, such as investing in real estate. The recent passage of the Genius Act has set regulatory guidelines for stablecoin issuance, encouraging more firms to explore this avenue. As the demand for faster transactions grows, industry leaders emphasize that traditional banking methods are becoming obsolete in the face of rapid technological advancements.