The credit card moment for stablecoins: Wall Street, tech giants, and banks are all betting.

Author: CNBC, MacKenzie Sigalos; Jordan Smith; Talia Kaplan

原标题：What’s driving Wall Street stablecoin interest? Trillions up for grabs in the future and banks getting ready for it

Compiled and organized by: BitpushNews

Although the market experienced a brief pullback this week and cryptocurrency concept stocks overall weakened, the stablecoin sector remains hot. Circle (CRCL), which just went public, strengthened again, with its stock price rising nearly 8% on Thursday. Since its debut on the NYSE earlier this month, the cumulative increase has exceeded 600%. Behind this wave of stablecoin enthusiasm, Wall Street's collective "bet" is quietly unfolding.

What Wall Street is targeting is not just coins, but the "next-generation payment infrastructure"

Recently, Bridge, a crypto payment infrastructure company acquired by Stripe for $1.1 billion, has become the focus. The CEO and co-founder of the startup, Zach Abrams, pointed out in an interview with CNBC's "Crypto World": "Stablecoins will be the biggest transformation in the way global capital flows for decades, it's like that moment when credit cards came into play."

He believes that stablecoins are not just a new financial instrument, but a completely new platform for capital transfer. Credit cards created a payment market worth trillions of dollars, and stablecoins may replicate this path, or even do it on a larger scale.

The use cases of stablecoins are transitioning from Crypto to the real world

This judgment is not just talk. Abrams revealed that tech giants including SpaceX, ScaleAI, and Remote.com are already using the stablecoin services provided by Bridge on a large scale:

• ScaleAI, the AI data labeling company that Meta just invested $14 billion in, pays global labelers using stablecoins.
• SpaceX will convert the Starlink service fees paid by customers from various countries through Bridge and remit them back to the United States.

Abrams pointed out that the scenario of "stablecoin cross-border bridging" is much broader and has more practical demand than people imagine.

Traditional Finance Enters the Game: Signals from Fiserv and Mastercard

Earlier this week, payment giant Fiserv officially launched its stablecoin product, and Mastercard immediately integrated it into its own payment network. Abrams stated, "As regulations become clearer, traditional financial institutions will inevitably accelerate their layout."

The current market size of stablecoins is approximately $400 billion, mainly dominated by Tether and Circle. Abrams predicts that it will grow to several trillion dollars in the future, and if traditional financial institutions want to get a piece of the pie, they must start taking action now.

"This market cannot ultimately be supported solely by a few crypto companies; to reach a trillion-scale, traditional banks must play a significant role in circulation and settlement."

The "Tokenization Enthusiasm" on Wall Street Continues

Not only stablecoins, but Wall Street's interest in "asset tokenization" is also continuing to heat up. New York startup Republic announced this week that it will allow users to purchase tokenized equity representing private tech companies like SpaceX, OpenAI, and Anthropic for as low as $50. This threshold is far lower than the traditional private placement market, which often has investment thresholds of tens of thousands of dollars.

The Ripple controversy continues, and regulation is still evolving

At the same time, the regulation of stablecoins is still progressing amid ongoing negotiations. On Thursday, a federal judge rejected Ripple's $50 million settlement request with the U.S. Securities and Exchange Commission (SEC), stating that neither party had the authority to unilaterally decide on a settlement plan.

Ripple's associated token XRP fell more than 2% on the day. Ripple's Chief Legal Officer Stu Alderoty announced the company's follow-up response options on platform X.

In addition, "Crypto World" has revealed that the Trump administration is considering allowing homebuyers to include cryptocurrency assets when applying for federal housing loans, a move that may further promote the integration of cryptocurrency assets with the real financial system.

Written at the end:

From being seen as a "tool of the cryptocurrency world" to gradually entering the mainstream payment and financial systems, stablecoins are experiencing their "credit card moment." A competition to reshape the rules of global capital flows has just begun.