According to @MilkRoadDaily, BitGo CEO Mike Belshe said banks are so bad at payments, PayPal exists, arguing stablecoins are better for payments, as shared in a clip posted on X on August 13, 2025, source: Milk Road (@MilkRoadDaily) on X. This stance is consistent with documented frictions in bank-based cross-border payments including high costs and slow speeds, source: BIS CPMI cross-border payments programme reports 2020 to 2023. For traders, the key takeaway is that stablecoins such as USDT and USDC are the dominant quote and settlement asset on centralized crypto exchanges, so momentum around stablecoin payments tends to reinforce exchange liquidity conditions, source: Kaiko Research 2024 market structure analysis. Risk management focus is to monitor peg stability and redemption confidence because depegs have previously disrupted liquidity, such as the USDC depeg in March 2023, source: Federal Reserve Financial Stability Report May 2023 and FSB 2023 global stablecoin framework. A practical indicator is the Stablecoin Supply Ratio to gauge stablecoin purchasing power versus BTC for timing risk allocation, source: Glassnode Academy Stablecoin Supply Ratio.

According to @MilkRoadDaily, a discussion with BitGo CEO Mike Belshe claims the proposed Genius Act could catalyze stablecoins at a scale comparable to the 1970s rule change that created a $5T money market fund market, positioning it as a major policy catalyst for crypto liquidity and settlement rails, source: @MilkRoadDaily. According to @MilkRoadDaily, the post frames the outcome as global and on-chain, signaling potential for widespread stablecoin adoption if the Act advances, source: @MilkRoadDaily. According to @MilkRoadDaily, the comparison underscores a trillion-dollar opportunity for stablecoins that traders may treat as a structural catalyst for market depth and volume should regulatory progress occur, source: @MilkRoadDaily.