“Stablecoins are a consolidation between decentralized finance and traditional finance. It is also considered a field that will grow the most due to its stability and usability if regulations are relaxed under the Trump administration.”
Raja Zaidi, Chief Strategy Officer (CSO) of Scroll, said during the keynote speech at the "2025 Virtual Assets Conference" held on the morning of the 16th at the Grand Ballroom of the Westin Chosun Hotel in Jung-gu, Seoul, "The total market capitalization of stablecoins is currently around $21.2 billion and has been growing at a very fast pace, increasing by 153% since January 2023."
Zaidi noted that the potential of stablecoins is highly evaluated under the Trump administration. He emphasized that stablecoins will play a major role in on-chain contracts as the only stable currency among virtual assets. He also explained that they can be actively used in countries with unstable currency values.
Zaidi said, "In my home country of Pakistan, the volatility of the national currency, the rupee, is very high. Therefore, when people have money, they want to exchange it for dollars, but the traditional financial market takes at least 25% in fees for currency exchange. However, using stablecoins can reduce fees and make currency exchange easier and more convenient."
He added, "Stablecoins serve as a digital dollar that moves at the speed of the internet, allowing transactions to take place on-chain regardless of time and place. Currently, transactions are possible even in Africa, where financial infrastructure is not yet established."
He said, "When making intercontinental payments from one country to another, it currently takes a long time and process, requiring several phone calls and writing down code. However, if we use stablecoins, it will be possible to transfer within 2 to 3 minutes to each person's wallet, which means they can be utilized for various purposes, whether for banks, retail stores, or transactions between individuals."
Finally, Zaidi stated, "Thus, stablecoins have the same value as physical currencies and assets, and since transactions take place on-chain, they should not be placed on insecure blockchains. In that regard, Scroll chose the Ethereum blockchain and considers security to be so important that it will not compromise on it. Zero-knowledge proof has high scalability and interoperability related to privacy protection."