Matt Hougan, the Chief Investment Officer at Bitwise, identified corporate partnerships with crypto projects as the primary driver for the adoption of stablecoins.
He believes initiatives from DoorDash and Meta could elevate the sector's market capitalization to trillions of dollars.
DoorDash, in collaboration with Stripe, will implement stablecoin payments for couriers across 40 countries. Meta is launching a similar pilot project for content creators in Colombia and the Philippines via Polygon and Solana.
Hougan noted that for industry giants, low fees are not the only consideration. The main advantage is the simplification of payment logistics: one crypto wallet can replace dozens of banking systems and currencies, saving the company resources.
He believes that stablecoins serve as the most effective bridge into the industry. Once a user sets up a wallet for receiving payments, Bitcoin and DeFi protocols become accessible with just one click.
As of this writing, the sector's market capitalization exceeds $317 billion. Analysts predict this figure will grow to $4 trillion by 2030.
Hougan is confident that tech companies with millions of freelance workers will accelerate this process and solidify cryptocurrency's place in the global financial system.
On May 4, Western Union launched its own stablecoin, USDPT, on the Solana blockchain.
On May 5, State Street and Galaxy introduced a tool for managing liquidity 24/7 using stablecoins.