Ripple VP Says Stablecoin Payments Market is ”Underestimated” - Regulatory Clarification is Key to Growth

"The stablecoin payments market is underestimated and requires regulatory clarity to reach its full potential."
Ripple Vice President Monica Long
Long) participated in the APEX 2019 held at the Rebels City Convention Centre in Singapore on the 11th.
He made the remarks at the "XRP Ledger 2025" event. The event, now in its fifth year, was held to promote the largest community of Ripple's public blockchain, the XRP Ledger.
This is the first time the event has been held in Asia. Vice President Long said, "The market capitalization and circulation of stable coins are on an ever-increasing trend," adding, "We are seeing a trend that has not been seen in the past 10 years.
"We have seen cases of stablecoins being used in the last one or two years," he said. "Stablecoins are playing an increasingly important role in the global economic market, but we have only just begun to realize their full potential.
"The stablecoin market has only just begun to grow," he said. "As more stablecoin use cases increase, we will see more companies trying to enter the market," Long said.
"There will likely be more stablecoin issuers," he said. "If there are more issuers, there may be a possibility that various products that link blockchain networks with the stock market will emerge."
In particular, he focused on the possibility of banks using stable coins. "The use of stable coins jointly issued by large banks for interbank settlements will expand," he said.
"It can dramatically improve the settlement mechanism of banks," he explained.
Bradley Garlinghouse, CEO of Ripple
emphasized the function of stablecoins as a store of value in the fiat currency market.
In Argentina, where the depreciation of the value of the cryptocurrency and rapid inflation have emerged as national issues, many people would rather hold stablecoins than fiat currency (pesos)."
In fact, according to a recent report published by South American cryptocurrency exchange Bitso, 39% of buy orders concluded on Bitso last year were for Tether (
The two cryptocurrencies are USDT (USDT) and USD Coin (USDC). Bitso analyzed that "the devaluation of the currency has led to an increase in the adoption of stablecoins as a means of storing value."
Demand for stablecoins is growing worldwide, but some have argued that clear regulation is needed above all else to increase their adoption.
Vice President Long said, "Regulatory clarity is a turning point for the stablecoin market. The Monetary Authority of Singapore will establish a relevant regulatory framework in 2023, and the United States will be involved due to a change in government tone."
"Coalition legislation is gaining momentum," he said, adding that "there is no reason for companies to take risks amid regulatory policy uncertainty."
Garlinghouse said, "The GENIUS bill, a stablecoin bill that is about to be voted on by the U.S. Congress, is also one of the major
"This could be a watershed moment," he said, emphasizing that "if the GENIUS Act does not pass, large banks will not launch stablecoins."
He also said, "Countries that have secured regulatory clarity have reaped economic benefits so far," and added, "If the bill passes,
"Various opportunities will be created in the United States, the world's largest economic power, which has been "underestimated" in terms of regulations," he predicted.