THE FINTECH INTERVIEW
“ Particularly in emerging markets where moving from one currency to another, South African rand to a US dollar, can take a long time, you’ re starting to see stablecoins be used more and more,” Keith says.
Beyond corporate treasuries, emerging markets with less developed banking infrastructure present compelling consumer use cases.
High remittance costs, currency instability and limited access to banking services create genuine problems that stablecoins can solve immediately.
The second area of current adoption involves consumer payments, though the trajectory differs markedly between developed and emerging markets. In countries with less established payment infrastructure, stablecoins offer a compelling alternative to slow and expensive traditional banking systems.
Keith believes this geographical divide will shape the adoption timeline.“ I actually think stablecoins will
“Stablecoins will enter consumer use cases in other markets first, then make their way to developed markets”
Keith Grose, UK CEO, Coinbase enter consumer use cases in other markets first and then make their way to developed markets,” he explains.“ Because actually they’ re solving a bigger pain point there than it is here.”
In developed markets like the UK and US, where tap-to-pay and faster payments work seamlessly, stablecoins face less urgent demand. However, they are beginning to emerge as an alternative option, often integrated behind the scenes rather than replacing existing payment methods entirely.
Even in these advanced markets, certain features could accelerate adoption. Keith highlights the ability to earn yield on stablecoin holdings while simultaneously using them for payments. Coinbase currently offers 4.5 % interest on US dollar stablecoins, effectively combining current account convenience with savings account returns.
“ Right now, part of the benefit for me is I can hold US dollars and get paid 4.5 % on those and pay with them at the same time,” Keith says.“ So it’ s like having a checking and savings account in one.”
Keith highlights how this integration is already working in practice.“ I spend every day in the UK on tap to pay, and it’ s actually backed by stablecoins,” he reveals.“ Every time I’ m paying, it’ s autoconverting stablecoins for me, but it’ s still using traditional card rails.”
This hybrid approach provides a bridge between blockchain-based assets and familiar payment interfaces. The technology works invisibly, delivering additional benefits without
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