The crypto industry has long sought a "killer app" to bring digital assets into the mainstream. Recently, though, some are pointing to the growing popularity of stablecoins like Tether and USDC to say that long-sought use case is here already. Designed to trade on a 1:1 basis with major currencies like the dollar, stablecoins have found growing adoption in fields like cross-border remittances and DeFi payments—and some say this is just the beginning.
A startup called Bridge, cofounded by Square and Coinbase alumni Zach Abrams and Sean Yu, wants to take stablecoins to the next level. Drawing on their extensive experience in fintech, Bridge aspires to build a future global payment network around stablecoins in order to challenge everything from Swift to credit cards.
