PANews reported on June 29 that according to Cointelegraph, Alchemy Engineering Director Noam Hurwitz said that stablecoins have become the mainstay of Internet payments, and their adoption rate has now exceeded that of major traditional card networks. The adoption rate of stablecoins has "exploded" and is becoming the default settlement layer of the Internet. Companies such as PayPal and Stripe are integrating stablecoins to leverage on-chain infrastructure for faster and cheaper transactions. Stablecoins make money "cheap, fast, global and secure to transfer." These features make them popular for a variety of purposes and widely adopted in cross-border payments and prediction markets such as Polymarket.