Part 4/6:
When questioned about institutional engagement with stablecoins, Quigley expressed that many non-crypto-focused companies still lack a comprehensive understanding of blockchain technology. He highlighted that while there has been an increased interest in crypto trading spurred by the approval of Bitcoin and Ethereum ETFs, there remains little exploration of stablecoins' utility beyond trading.
Quigley suggested that the potential cost savings provided by stablecoins, particularly for cross-border transactions, could fundamentally disrupt the existing global payment infrastructure. He mentioned that traditional financial institutions could be resistant to stablecoin adoption as it threatens their profit centers tied to currency conversion and transaction fees.