The Future Transformed by Stablecoins: A New Financial Ecosystem from AI Agent Payments to International Remittances

Since the publication of the Bitcoin white paper in 2009, blockchain technology has aimed for a "peer-to-peer electronic cash system," but its inefficiencies and price volatility have hindered its practical application. This article provides a comprehensive overview of "stablecoins," which are rapidly gaining popularity while resolving these issues, covering everything from their technical characteristics and major use cases to their ecosystem structure, regulatory trends, and future impact on the financial system.

1. Bitcoin's Original Vision and Its Evolution

The beginning of the Bitcoin white paper proposed a "peer-to-peer electronic cash system," aiming for decentralized payments using blockchain technology, but the following issues have hindered its practical application.

• Challenges in transaction costs and speed: High fees due to mining costs and approval delays lasting tens of minutes

• The problem of price volatility: Extreme price fluctuations unsuitable for remittances

In contrast, stablecoins serve as a "stable means of payment" by pegging their price to fiat currencies such as the US dollar.

2. The Rise and Characteristics of Stablecoins

2-1. Innovation in Transaction Costs and Speed

With the latest infrastructure, performance has been achieved where the transaction cost per item is less than one cent and settlement is completed in about one second. This has made P2P payments on the blockchain practically feasible even for small remittances of a few dollars.

2-2. Stability as a Unit

To ensure "stability as a unit" with minimal price fluctuation, issuers hold 1:1 reserves or back them with US Treasury bills. This allows users to enjoy the transparency and decentralization of the blockchain while avoiding the volatility of traditional crypto assets.

3. Major Use Cases for Stablecoins

3-1. Backend Revamp by Existing Financial Institutions

Fintech companies and banks such as Stripe, Revolut, and Robinhood are replacing parts of their traditional payment infrastructure with stablecoins to improve efficiency.

3-2. Use Cases in Emerging Markets: Zar in Pakistan

The Pakistani payment network "Zar" enables financial inclusion by allowing users to exchange local currency for stablecoins through mobile kiosks on street corners.

3-3. Application to Corporate Treasury Management

It has been reported that SpaceX uses Stripe's Bridge feature to adopt stablecoins for international remittances, completing transactions in seconds compared to traditional interbank settlements and significantly reducing costs.

4. Stack Structure and Ecosystem Players

4-1. Issuer Layer: USDC and Tether

• USDC: Jointly issued by Circle and Coinbase. It boasts a circulation of $3.46 billion as of the end of 2024.

• Tether (USDT): The industry leader, holding approximately 70% of the market share and $118.4 billion in reserves.

4-2. Infrastructure Layer: Ethereum, Solana

Stablecoins are primarily issued and traded on Layer 1 networks such as Ethereum and Solana, where gas fees serve as a source of revenue.

4-3. Interface Layer: Wallets and Fintech

Wallets like Phantom and fintech companies with Web2-style frontends are responsible for the user experience, supporting market expansion.

5. Regulatory Trends and Future Outlook

5-1. Latest U.S. Legislation: GENIUS Act

On June 17, 2025, the U.S. Senate passed the 'Guiding and Establishing National Innovation for U.S. Stablecoins Act (GENIUS Act)' by a vote of 68 to 30. The bill applies federal oversight to major issuers and state oversight to others, establishing reserve requirements and disclosure obligations.

5-2. Market Expansion Scenarios Through Regulatory Frameworks

According to Citi Institute estimates, if regulatory support and institutional investor entry continue, the stablecoin market is projected to grow to $1.6 trillion (base case) and up to $3.7 trillion (bull case) by 2030.

5-3. Challenges and Risks

On the other hand, Amundi has expressed concerns that the GENIUS Act could disrupt global payment systems and impact monetary sovereignty. Additionally, J.P. Morgan has indicated that the replacement of daily consumer spending with stablecoins remains a difficult prospect.

6. The Future Financial System Opened Up by Stablecoins

6-1. Integration with AI Agents

When AI agents perform payments on behalf of users, charging stablecoins to a crypto wallet instead of a bank account enables seamless automated transactions.

6-2. Streamlining International Remittances and Payments

By eliminating traditional international remittance costs (up to 10%) and 3-7 day delays, instantaneous and low-cost fund transfers worldwide become possible.

6-3. Potential for Adoption at Consumer and Corporate Levels

Following adoption cases for banks and corporations, consumer apps and services for emerging markets are increasing. In particular, demand for dollar substitutes in countries with unstable currencies is expected to continue growing.

Stablecoins are evolving the "P2P electronic cash system" concept of Bitcoin and are rapidly spreading as a payment infrastructure that combines low cost, high speed, and stability. With the development of regulations such as the GENIUS Act, the market size is highly likely to expand dramatically over the next few years, and the impact on next-generation financial systems, such as AI agent payments and the streamlining of international remittances, will be immeasurable. It is essential for users, companies, and regulatory authorities to work together to build a safe and innovative stablecoin ecosystem.

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