@addisona
Stablecoins are poised to become the shadow infrastructure of the global financial system. Operating outside traditional banks via wallets, protocols, and APIs, they provide "shadow liquidity" backed by real-world assets like U.S. Treasuries.
htxventures.medium.com
This enables faster, cheaper cross-border payments, remittances, and settlements, challenging legacy systems like SWIFT while enhancing inclusion in underbanked regions.Yet, risks loom: overcollateralization, smart contract flaws, and potential runs echo shadow banking vulnerabilities, amplified by crypto's composability. As adoption surges—with volumes nearing $20 trillion in 2024—regulations like the U.S. GENIUS Act aim to integrate them safely.Ultimately, stablecoins could form a parallel dollar network, coexisting with fiat but reshaping value flows responsibly. For details, see HTX Ventures analysis.
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