From Yield to Geopolitics: Why Stablecoins Are Eating Global Payments
Tracking stablecoins as they reshape global payments, compliance, and crypto markets.
Stablecoins are no longer just crypto tools — they’re macroeconomic levers, political chess pieces, and programmable cash rails. What was once a dollar-denominated corner of DeFi has become a battleground for economic dominance and technological innovation.
This week, we look at how U.S. tariffs, new regulation, and developer momentum are converging to create a pivotal moment for stablecoins. From Europe’s EURC surge to Binance’s USD1, and from inflation-protected tokens to tokenized Treasury flows — the stablecoin market is becoming both the dollar’s strongest export and its potential competitor.
Stablecoins Are Becoming a Geopolitical Force
Stablecoins aren’t just a faster way to move money — they’re a response to shifting global power structures.
As the U.S. dollar weakened 9% YTD against the euro, Circle ’s EURC saw a 43% spike in supply. Why? Because stablecoins offer non-dollar economies access to programmable alternatives — faster, cheaper, and unshackled from U.S. monetary policy.
Standard Chartered now forecasts the stablecoin market hitting $2 trillion by 2028. That scale isn’t just retail-driven — it could channel up to $1.6 trillion in Treasury demand, propping up U.S. debt even as other countries pursue de-dollarization.
Meanwhile, the U.S. is trying to legislate its way to leadership. The GENIUS Act is gaining traction, aiming to give dollar-backed stablecoins regulatory legitimacy and preserve the greenback’s influence — even in a fragmented financial world.
Cobo’s Take: The geopolitical value of stablecoins is now equal to their technical innovation. Platforms that can balance compliance, liquidity, and speed — while adapting to changing macro conditions — will own the next era of global payments.
What U.S. Tariff Policy Reveals About Stablecoin Infrastructure
U.S. tariffs aren’t just economic tools — they’re now stablecoin growth catalysts.
In response to trade war volatility and dollar instability, fintechs and businesses are leaning into stablecoins to sidestep traditional FX and banking delays. Modern Treasury is already piloting stablecoin rails for global payments.
In Vietnam and other export-heavy markets, where dollar settlement becomes fraught, stablecoins are emerging as frictionless tools for reconfigured supply chains.
And then there’s time: traditional finance settles in 8-hour windows. Stablecoins settle 24/7 — a difference that matters when tariffs shift overnight. Ripple ’s RLUSD aims to become the default for around-the-clock institutional settlement.
Cobo’s Take: Stablecoins thrive in friction — and global trade is full of it. Any payment stack that supports real-time, cross-border, compliant transactions will win. WaaS providers must focus on multi-chain settlement, fiat bridges, and regulatory readiness to unlock this market.
@a16z: Stablecoins Are Having Their "WhatsApp Moment"
Chris Dixon’s latest piece nails it: stablecoins are scaling the way WhatsApp did — fast, globally, and without intermediaries.
Stablecoins processed $15.6 trillion in transfers last year — equal to Visa.
$200 remittance:
Businesses are already leveraging this:
Cobo’s Take: Stablecoins aren’t disrupting payments. They’re replacing them. This moment isn’t just about efficiency — it’s about programmable value layers. Developers and exchanges should be looking to abstract compliance, automate liquidity, and productize FX-like features into their stack.
Regulation & Compliance: The Landscape Is Shifting
New Launches: Yield, Interoperability, and Real-World Use
Market Adoption: Institutions Are All In
Capital Moves
Final Word from Cobo
Stablecoins are no longer just digital dollars. They’re programmable capital, policy tools, and financial infrastructure all at once.
Cobo builds the infrastructure that lets you plug into this new world — securely, scalably, and without the operational complexity. Whether you're an exchange, asset manager, or fintech innovator, we provide the wallet stack, compliance rails, and multi-chain support you need to launch and grow in the stablecoin economy.