According to Sveinn Valfells, co-founder and chair of Monerium, stablecoins offer cheaper and faster money movement, global availability, open-access, and programmability. Unlike the first generation of stablecoins, which were niche and illegal, the current generation is fungible, compliant, and integrated with financial infrastructure. These new stablecoins, regulated under European e-money rules, are safe and suitable for mainstream use, promising a wave of efficient onchain fintech applications that surpass traditional fintech offerings

The Senate Banking Committee has passed digital assets legislation establishing a regulatory framework for stablecoins. This bipartisan effort signifies a major step toward legitimizing the crypto sector and integrating it into the traditional financial system.