Unchained A Soon-to-Be $2 Trillion Stablecoin Market? Stripe, Shopify and Banks Want In - Ep. 851
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Jun 13, 2025 Vicky Fu, co-founder at Yala and former engineering director at Circle, sheds light on the booming stablecoin market. She reveals how Circle was undervalued before its successful IPO and dives into Stripe's strategic moves in crypto, hinting at broader market implications. Fu argues that retail payments could be the breakout use case for stablecoins. She explains how Circle's network effects give it a competitive edge as banks enter the space, setting the stage for a possible $2 trillion market.
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Circle's Unique Market Role
- Circle is pioneering a new business as a digital dollar infrastructure, not just a money market fund.
- Its focus on US market liquidity and transparency gives it an advantage over competitors like Tether.
Circle's Infrastructure Edge
- Circle solves complex banking and transparency challenges to enable true 24/7 on-ramp/off-ramp stablecoin transactions.
- This infrastructure positions Circle as a major player beyond simple coin issuance, promoting global adoption.
Stablecoins in Retail Payments
- Stablecoins like USDC are becoming a primary settlement vehicle for ecommerce and retail payments.
- Partnerships of Coinbase, Shopify, and Stripe signal a growing adoption and network effect for stablecoin payments.