Matt Hougan, the Chief Investment Officer at Bitwise, identified corporate partnerships with crypto projects as the primary catalyst for the proliferation of stablecoins.
He believes that initiatives by DoorDash and Meta could elevate the sector’s market capitalization to trillions of dollars.
DoorDash, in collaboration with Stripe, will implement stablecoin payments for couriers in 40 countries. Meta will launch a similar pilot project for content creators in Colombia and the Philippines through the Polygon and Solana networks.
Hougan noted that for industry giants, low fees are not the only concern. The main advantage is the simplification of payment logistics: a single crypto wallet replaces dozens of banking systems and currencies, saving company resources.
Stablecoins are the most efficient bridge into the industry, according to the top executive. Once a user sets up a wallet to receive payments, Bitcoin and DeFi protocols become accessible with a single click.
At the time of writing, the sector’s market capitalization exceeds $317 billion. Analysts forecast growth to $4 trillion by 2030.
Hougan is confident that technology companies with millions of freelance employees will accelerate this process and cement cryptocurrency in the global financial system.
Earlier, on May 4, Western Union issued its own stablecoin, USDPT, on the Solana blockchain.
On May 5, State Street and Galaxy launched a tool for 24/7 liquidity management using stablecoins.