Stablecoin Market Faces Hurdles as Adoption Remains Unclear

The stablecoin market has been touted as one of the most promising areas in cryptocurrency, but experts are struggling to figure out who will actually use them.

Even in the depths of the crypto winter, stablecoins stood out as a beacon of optimism. Investors and startups hail them as a long-awaited killer application, and even crypto haters concede that stablecoins are a superior technology for moving money around, especially following the 2025 passing of the GENIUS Act, which created a predictable regulatory environment for using the tokens.

However, according to Dan Kim, VP of Product at Airwallex, it's still unclear who will actually use stablecoins. Kim recalls that during his time at Coinbase, he struggled to persuade merchants to adopt stablecoins due to concerns about chargebacks and added complexity to payment systems.