Stablecoins Grew Up
From speculative plumbing to a settlement layer with real volume and real supervision.
By Tomas Alvarez
Boring is the achievement
The interesting thing about stablecoins today is how uninteresting they have become. Attested reserves, named issuers, supervised in recognizable ways.
That normalization is what allowed treasurers to use them, and usage is what finally separated the instrument from its origin story.
Nobody asks what protocol their wire runs on. That is the goal.