Stablecoins: Internet’s New Settlement Layer

Stablecoins are now the “default settlement layer for the internet,” according to Alchemy’s Head of Engineering, Noam Hurwitz. Their onchain transaction volume has surpassed Visa and Mastercard by 7%, driven by integrations from major companies like PayPal and Stripe. Hurwitz highlights stablecoins’ benefits for cheap, fast, global, and secure transfers, noting their significant role in cross-border payments and as buyers of U.S. Treasuries.