Stablecoins have gotten boring, fast. That’s good news for the industry, which is working to ensure end-users stop thinking of stablecoins as “stablecoins” and start treating them as an always-on layer for moving liquidity, extending credit, and settling financial obligations.
The most important stablecoin developments this week were not really about stablecoins.
Across announcements from Visa, U.S. Bank, PayPal, Tether, Marqeta, MVB Financial and others, the digital dollar showed up less as the product being built and more as an underlying component inside products that already look like recognizable financial services: credit facilities, card programs, cross-border treasury, custody, settlement and developer…
