Stablecoins: the ‘killer app’ of the financial world? (Part 2)

In part 1 of “Stablecoins: the ‘killer app’ of the financial world?”, we discussed how stablecoins are emerging and impacting global payments, bridging the gap between traditional systems and decentralised innovation. Their ability to function as a stable store of value whilst enabling real-time, low-cost transactions, positions them as a viable challenger to legacy financial infrastructure. As stablecoins continue to disrupt global finance, they may not just be an alternative - they could become the foundation of a faster, more inclusive financial future.

Challenges tempering stablecoins' ‘killer app’ potential

· regulatory uncertainty

The global regulatory landscape for stablecoins is evolving, with a focus on licensing and authorisation regimes. Most regulations follow two models: one permits banks and non-bank financial institutions (NBFIs) to issue stablecoins with specific consent whilst the second requires new crypto-specific licenses, such as being a crypto asset services provide…