Stablecoins are entering a new phase, shifting from simple payment rails to yield-bearing, user-centric financial instruments, according to Bundeep Singh Rangar, CEO of STBL.
The evolution could erode the dominance of early centralized models and raise new questions for regulators worldwide.
“Consumers now seek to share in the yield generated by their assets, and tokenized RWA infrastructure now makes that possible,” Rangar said, pointing to how the market is maturing beyond the model pioneered by Tether.
The backdrop is a rapidly growing $246 billion market, with stablecoins playing an increasingly critical role in cross-border payments, decentralized finance (DeFi), and financial inclusion.
The U.S. GENIUS Act, the first federal stablecoin law and Europe’s MiCA framework are set to shape adoption, though both carry challenges.
Rangar described the GENIUS Act as “an important milestone,” noting that while it is not precedent-setting compared with the EU and UAE, …