Global Foreign Exchange and Payment Platforms are working hard against stablecoins, standing to greatly disrupt their business models, investor Kevin O’Lei said unanimously during a main address in 2025.
Legacy forex and payment platforms often withdraw large fees for servicing cross-border cash transfer and stand to lose revenue if the regulated stabblecine is accepted as a cheap, sharp optional, O’Leeri said at the Toronto Conference.
“Currency trading is a multi-trilian dollar market-and it is old and ugly and incompetent,” O’Lery said, “(T) He is the biggest threat to that monopoly or oligoli is a regulated stabelin.”
“Once it is approved, the multi-trilian dollar FX market becomes efficient, transparent and inexpensive,” he said.
Stabechoin legislation
American legalists are working on laws that stand to accelerate global stabechoin adoption, O’Lei said.
American senators are aiming to pass the so-called Genius Act-an outline for regulating the end-stabecon before the end of May. “As soon as the SEC approves the Stabelin Act, every regulator in the circle of America – Abu Dhabi, Switzerland, England – will follow,” O’Leeri said.
He said, “Who is worried about this? Financial Services Industry. They hate this idea, and they are working very hard to prevent that bill from now,” he said.
O’Leeri said regulator clarity for stabechoin can be an precursor to comprehensive cryptocurrency improvement that can potentially unlock trillion dollars in institutional capital.
“When this language comes out, people will really look at things like good refinement, great progress, consumer protection, insolvency protection and morality,” American Senator Kirsten Gilibrand said during an event organized by the lobbying arm of the coinbase, standing with Crypto.
As of May 15, Stabelines collectively are worth about $ 250 billion in market capitalization, data From coingecko. The data shows that Tether’s US-Dollar Pegd Stabecrim is a USDT leader, with a market cap of about $ 150 million. After this, the USDC of the circle, another US-dollar, made a page to Stabelcoin with a market cap of more than $ 60 billion.
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