The Next Big Thing in Finance Isn’t Flashy. It’s Stable.
If you’re looking for the next big disruption in global finance, don’t look to meme coins or high-frequency trading apps. Look to something far less flashy—a digital coin quietly pegged to the good old US dollar.
Stablecoins—the lesser-hyped cousin of cryptocurrencies—are stepping into the spotlight. They don’t promise you 100x returns. Instead, they promise something more powerful: a stable, fast, and programmable currency for the internet economy.
And while the world watches, regulatory winds in the US are the deciding factor in whether stablecoins stay niche—or become the backbone of a new global payments infrastructure.
What Exactly Are Stablecoins?
Stablecoins are digital tokens that are pegged to real-world assets—most commonly, the US dollar. Think of them as crypto’s answer to price stability.
• They maintain a fixed value (usually 1:1 to USD).
• Unlike Bitcoin or Ethereum, they’re designed to avoid volatility.
• They’re fast, borderless, and programmable.
Top use cases include:
• Cross-border remittances
• Instant merchant payments
• DeFi (Decentralized Finance) applications
• On-chain payroll and settlements
Some of the best-known stablecoins today:
• USDC (issued by Circle)
• USDT (Tether)
• PYUSD (PayPal’s entry into the space)
Stablecoins might seem “boring” compared to headline-making cryptos, but that’s exactly why the financial sector is taking them seriously.
Why the US Debate on Stablecoin Regulation Matters for the Entire World
The US is the largest economy and the issuer of the world’s reserve currency. So, when American lawmakers debate financial infrastructure—even in the form of digital tokens—the effects ripple far beyond its borders.
Recently, a bipartisan bill aimed at regulating stablecoins advanced in the US Senate. While it faced a temporary stall, the underlying message was clear: there’s growing political will to bring stablecoins into the regulatory fold.
Why that’s a game-changer:
• Regulatory clarity gives banks, fintechs, and enterprises the green light to innovate.
• It opens the door to mass adoption—from remittances to retail payments.
• It offers consumer protection, reducing the risk of rug-pulls or unbacked tokens.
• It lays the foundation for global interoperability—something the current payments infrastructure sorely lacks.
Now that the GENIUS Act has advanced in the US Senate, stablecoins are one step closer to having a clear path towards becoming fully regulated infrastructure, on par with systems like SWIFT or ACH, but optimized for a digital, borderless economy.
Why Mastercard, Visa, and PayPal Are All In
Stablecoins are no longer a playground for crypto startups—they’ve entered the boardrooms of the world’s biggest financial institutions.
Let’s break it down:
• Mastercard: Is running pilots with stablecoins for cross-border payments. The goal? Instant, secure settlements between institutions and merchants without relying on legacy banking rails.
• Visa: Has begun live settlement pilots using USDC on Ethereum, collaborating with merchant acquirers and banks in multiple countries.
• PayPal: Launched its own stablecoin (PYUSD) which it plans to integrate across its global ecosystem, including millions of merchants and users.
• Stripe: Recently announced stablecoin payment support for online businesses in over 130 countries.
• JP Morgan: Created its own JPM Coin to handle institutional transactions using blockchain—proof that traditional banks are eyeing this space seriously.
What does this tell us?
Stablecoins aren’t just a tool for crypto enthusiasts. They’re becoming the payment rails of the digital-first economy, just as UPI transformed domestic payments in India.
What This Means for India
India is no bystander in the global financial ecosystem. In fact, it’s a top destination for remittances, receiving over $100 billion annually from the global diaspora.
Stablecoins offer a tantalizing promise:
• Lower transaction fees compared to traditional wire transfers.
• Near-instant settlements, especially valuable in emergencies.
• Programmatic money movement, enabling new forms of smart contracts and decentralized finance.
But there’s a catch: India’s regulatory environment remains cautious.
• The RBI has made its preference clear: it’s pushing forward with CBDC (Central Bank Digital Currency) pilots.
• Meanwhile, private stablecoins remain in regulatory limbo, caught between outdated crypto rules and unclear tax treatments.
• Startups and fintech innovators are watching from the sidelines—unable to fully participate in global pilots or build interoperable solutions.
The risk?
India could miss the bus on the next-gen cross-border payments infrastructure. That’s not just a financial cost—it’s a strategic disadvantage in the global digital economy.
A Borderless Future Needs Borderless Infrastructure
At Lytus Technologies, we’ve always believed that the internet—and the global economy it powers—needs infrastructure that is real-time, resilient, and inclusive.
Stablecoins check many of those boxes. But the opportunity isn’t just about faster payments—it’s about unlocking new digital financial services across borders.
From healthcare billing to cloud subscriptions, from OTT streaming to digital leasing platforms—a programmable, stable, digital currency could radically simplify how users pay and how platforms operate.
“Stablecoins have the potential to become the backbone of global digital commerce, not just as a payment method, but as programmable infrastructure. At Lytus, we see a future where a healthcare invoice in Mumbai and a cloud subscription in Jakarta can be settled instantly, transparently, and cost-effectively using stablecoins. India must not sit on the sidelines—we have the talent and the tech to lead this shift, and we must utilise it.” - Shreyas Shah, Global CFO, Lytus Technologies.
That’s why we’re closely watching global developments. And we urge Indian policymakers, fintech leaders, and infrastructure providers to do the same.
The window of opportunity is narrow—but if we get this right, India can become a leading hub for stablecoin innovation and deployment, especially across the Global South.
Conclusion: The Future Isn’t Crypto. It’s Infrastructure.
Stablecoins are often misunderstood as just another crypto fad. But in reality, they represent a much bigger shift—a move toward digital infrastructure that is built for the internet economy.
And as the US inches closer to a regulatory breakthrough, the rest of the world must be ready to respond.
For India, the choice is simple:
• Watch from the sidelines, or…
• Build proactively, leveraging our fintech strengths to shape the future of payments.
One thing is certain: the global rise of stablecoins is unstoppable. With Hong Kong becoming the latest jurisdiction to enact regulations - closely following the progress of the GENIUS Act in the US Senate, it’s clear that governments are racing to establish frameworks for this emerging financial asset. Those who prepare today will shape the future tomorrow.