PANews reported on May 10 that, according to Coindesk, executives from crypto companies MoonPay, Ripple, and Paxos recently pointed out that regulatory clarity is accelerating the institutional adoption of stablecoins, but infrastructure, privacy protection, and real-world application remain the core challenges facing the industry.

Jack McDonald, Senior Vice President of Stablecoins at Ripple, stated that institutional clients are more concerned with regulatory compliance, custodial security, and trusted counterparties than simply the market capitalization of stablecoins. He added that Ripple prioritizes the practical utility of stablecoins in scenarios such as payments, corporate cash flow, and capital market collateral.

Richard Harrison, Vice President of Banking and Payment Partnerships at MoonPay, stated that the GENIUS Act provides a "license" for businesses to enter the stablecoin space, making it easier for traditional financial institutions to participate in the stablecoin market. He pointed out that stablecoins can significantly improve the efficiency of cross-border payments, but their current share in global remittances is still relatively low, and is expected to rise to approximately 10% in the next five years. Harrison also likened stablecoins to electric vehicles, saying that "the product itself is feasible, but true mass adoption still depends on the supporting infrastructure," including real-world consumption scenarios such as how to use stablecoins to pay rent or buy coffee.

Paxos Senior Software Engineer Brent Perrault pointed out that on-chain privacy issues have not yet been effectively resolved, and public blockchains expose transaction amounts and fund flows. He believes that the key to future competition among stablecoins will be trust, distribution capabilities, and user incentive mechanisms.