Visa exec: Stablecoins must overcome three barriers to become next-gen payment infrastructure

Jack Forestell, Visa’s Chief Product and Strategy Officer, explained in an official post on Visa’s website that stablecoins must meet three key requirements to become a true part of the next-generation digital payments infrastructure: First, a strong and flexible technology layer is needed—one that can handle ultra-fast, large-scale transactions reliably and securely. Blockchain advancements are already showing promise in meeting this need. Second, a reserve layer must be in place to build trust in the stablecoin’s value and stability. This means the coin should be backed by regulated, transparent reserves. Third, there needs to be a widely accessible and trusted interface layer that encourages users to participate. This layer should offer easy, seamless ways for people to convert stablecoins into local currency and use them wherever they choose. Forestell emphasized that without solving this final user-facing layer, stablecoins won’t be able to gain traction as a mainstream method of payment.