THE FINTECH INTERVIEW
The stablecoin revolution is already here, even if most consumers haven’ t noticed yet. According to Keith Grose, UK CEO of Coinbase, the cryptocurrency exchange and custodian platform, these blockchain-based digital currencies have crossed a remarkable threshold in the past year.
Stablecoins have processed more than US $ 45tn in transaction volume over the past 12 months.
That figure exceeds the combined volumes of payment giants Visa and Mastercard. Yet this seismic shift in how value moves around the world remains largely invisible to everyday consumers in developed markets.
“ I don’ t think many people realise it yet because you’ re not paying for your groceries with stablecoins if you’ re in the US or the UK,” Keith explains.“ But quietly, there is a big movement happening.” Stablecoins are cryptocurrencies designed to maintain a stable value by being pegged to traditional currencies, most commonly the US dollar.
Unlike volatile cryptocurrencies such as Bitcoin, stablecoins aim to combine the benefits of blockchain technology with the price stability of fiat currency. This makes them particularly useful for payments and remittances.
The summer that changed everything The momentum behind stablecoins accelerated dramatically following what Keith describes as“ stablecoin summer”.
“ Gen Z will be adopting crypto and stablecoins at a very rapid pace versus other generations”
Keith Grose, UK CEO, Coinbase
This refers to the passage of the GENIUS Act( Guiding and Establishing National Innovation for US Stablecoins) in the United States, landmark legislation that created a comprehensive regulatory framework for stablecoins.
The Act established clear rules for how stablecoin issuers must operate, including reserve requirements and consumer protections.
The legislation marked a turning point for institutional adoption. With regulatory clarity finally established, corporate treasurers and financial institutions gained the confidence to integrate stablecoins into their operations. The growth that followed has been remarkable.
The implications extend far beyond simple payment processing.
Keith identifies stablecoins as one of two critical trends that will reshape financial services over the next five to ten years. The second is tokenisation, the process of representing real-world assets as digital tokens on blockchain networks.
26 November 2025