Stablecoins Are Cheaper, Merchants Don’t Care w/ José Fernández Da Ponte (Stellar)

Financial institutions are increasingly integrating blockchain technology and stablecoins to modernize treasury functions and cross-border payments. Rather than focusing solely on retail commerce, the immediate opportunity lies in B2B cash management and capital market flows, where efficiency gains offer clear value to rational buyers like CFOs. Success for large incumbents depends on prioritizing liquidity, distribution, and world-class risk management over the technical complexities of self-issuance. As regulatory frameworks evolve—evidenced by recent OCC charters—the industry is entering an institutional building phase that demands higher operational standards. Jose Fernandez-Deponte, President and Chief Growth Officer at the Stellar Development Foundation, emphasizes that while retail adoption remains a long-term goal, the migration of existing assets on-chain by major banks like JP Morgan and State Street serves as a critical catalyst for broader systemic adoption.