Wasabi Card CEO: Regulation, not tech, is holding stablecoins back in payments market

Wasabi Card co-founder and CEO Ray Yang believes the failure of stablecoins to replace traditional payment systems stems more from regulatory and financial infrastructure issues than from technical limitations, Forbes reported. He noted that while the technology for moving funds is no longer the core problem, critical elements like licensing, compliance, risk management, and banking capabilities are now more important. Yang explained that although stablecoins can process cross-border transfers in near real-time, a significant portion of their current transaction volume originates from within the crypto ecosystem itself, including trading, arbitrage, and inter-protocol settlements. He concluded that for stablecoins to become a viable infrastructure for corporate payments, achieving regulatory compliance and building out the necessary financial infrastructure are more crucial than the underlying technology, which has already proven its capacity for large-scale transfers.