When you make things easier to do by removing cost and friction, people will naturally do it more. Email has changed the way we communicate. iPhone makes it easier to take photos and record your life. Amazon has simplified the process of shopping online for us. Social media makes sharing content seamless.

Obviously, the same results would happen if transactions and transfers were made simpler. Stablecoins are likely to trigger one of the most significant financial changes of our time. Being able to transfer money around the clock with near-instant settlements will have a profound impact. This will allow the dollar to penetrate new markets and into the hands of real users in a way that Treasury auctions can't achieve. This will allow business activities to be carried out more efficiently and without interruption at night, on weekends or holidays. This will reduce working capital requirements and significantly reduce the cost and time of cross-border transactions. The supply of stablecoins has reached new highs, as has the trading volume of stablecoins, both of which should accelerate as regulatory clarity opens the door to stablecoin acceptance.

The growth of stablecoins will further boost the concept of open finance. When trading becomes easier, more transactions happen. Stablecoin holders will seek yield on these assets, and they will gravitate towards platforms like Kamino and Drift, which automatically match lenders and borrowers with less friction. Once on-chain, stablecoin holders can gain access to money market funds like BlackRock's BUIDL, as well as decentralized exchanges like Drift, Jupiter, Raydium, and Uniswap, with a single tap. As on-chain assets continue to grow, stablecoin holders will undoubtedly have more assets to choose from and participate in. Stablecoins are a "Trojan horse" into the on-chain economy, which is expected to develop into a more inclusive and open global financial system.