Hurwitz told Cointelegraph that stablecoins have seen "explosive" adoption, adding that they are "becoming the default settlement layer for the internet."

Companies like PayPal and Stripe are integrating stablecoins to leverage onchain infrastructure, enabling faster and cheaper transactions. "They've already surpassed Visa and Mastercard in onchain volume by 7%," Hurwitz noted, signaling a decisive shift in how money moves online.