Alchemy: Stablecoins are becoming the default settlement layer of the internet
On June 29, Alchemy's engineering director Noam Hurwitz stated that stablecoins have become a pillar of internet payments, with their adoption now surpassing that of major traditional card networks. The adoption rate of stablecoins is experiencing 'explosive' growth and is becoming the default settlement layer of the internet.
Companies like PayPal and Stripe are integrating stablecoins to leverage on-chain infrastructure for faster, cheaper transactions. Stablecoins make money 'cheap, fast, global, and securely transferable,' which has made them widely popular for various uses and has led to their broad adoption in cross-border payments and prediction markets like Polymarket.