The bottleneck for stablecoins has never been on-chain speed, but rather bank relationships and licensing puzzle pieces. This article hits the nail on the head.

Crypto World News, citing a Forbes article, says that stablecoins have not yet truly replaced traditional payment systems. The reason is not transfer technology, but foundational infrastructure such as localized compliance, licensing, risk controls, bank partnerships, and access to payment networks. Although stablecoin trading volume has exceeded $10 trillion over the past year, much of the activity is still concentrated in crypto trading, arbitrage, and settlement between protocols, rather than being widely adopted in everyday enterprise payment scenarios. As the stablecoin market size has surpassed $320 billion, its role is shifting from “a competitor to traditional payment networks” to “a highly efficient settlement layer embedded within existing card networks and payment networks.” The article argues that the problem in the previous decade was how to make capital flows faster, while the challenge in this decade is how to deliver compliant, secure, and scalable payment applications amid a fragmented global regulatory environment.