Stablecoins will likely play a pivotal role in advancing global financial infrastructure and economic growth, said David Malpass, former president of the World Bank, in a keynote address at the Payments Unleashed summit in New York City.
Read More on Fintech : Global Fintech Interview With Justin Meretab, Co‑Founder and CEO of Layer
Malpass described stablecoins as a “foundational element in bridging conventional banking and payment systems with emerging digital financial technologies.”
He emphasized the necessity of robust regulatory frameworks to ensure the integrity, interoperability, and public trust in stablecoin adoption.
“Stablecoins can expand domestic commerce as well as international trade and cross-border payments. They offer lower transaction costs, real time settlement, and relief from the regulatory and devaluation costs that block development, with potential benefits for hundreds of millions of people,” said Malpass. “But we need clear regulatory frameworks to ensure stablecoins are secure, interoperable, and trusted by institutions and consumers alike.”
He welcomed Federal Reserve Governor Chris Waller’s proposal for access to limited master accounts at the Federal Reserve. “The United States has an opportunity to lead on stablecoins through innovation-friendly crypto policies and policies that defend the dollar’s purchasing power. There’s a global competition for market share in stablecoins,” he continued and other regions, particularly Europe and China, are accelerating their efforts.
His remarks reflected a broader theme of the summit: how digital innovation in payments, including stablecoins, is reshaping commerce, financial access, and global economic dynamics.
“Payments drive economic growth and global trade. They help people prosper,” said Thomas Warsop, CEO and President of ACI Worldwide. “People are better off when it’s easier to move money. Payments are not just transactions anymore; they are the pulse of the global economy.”
“We are entering a new era where payments are no longer backstage, they are center stage,” he said. “Payments are embedded experiences that shape how the world does business. They are data driven, intelligent, and complex, but also full of opportunities. The next generation of payments will unleash new ideas, new models, and new ways of working that will define how economies grow.”
Warsop called for collaboration between policymakers and innovators to ensure the next phase of payments evolution is inclusive, trusted, and transformative.
Payments Unleashed convenes leaders, innovators, and visionaries from across the payments ecosystem, celebrating 50 years of ACI payments innovation.
Catch more Fintech Insights : The CFO’s New Analyst: Using Generative AI for Strategic Financial Modeling
[To share your insights with us, please write to psen@itechseries.com ]
