Executives from MoonPay, Ripple, and Paxos told the Consensus Miami 2026 audience that regulation has given stablecoins a clearer path forward. But they also warned that infrastructure, privacy, and distribution still stand in the way of mass adoption.
Why regulation is helping
The panel pointed to recent rulemaking in several jurisdictions as a key driver. Clearer legal frameworks have encouraged more issuers and users to enter the market, the executives said. They noted that regulatory clarity reduces uncertainty for businesses building stablecoin products and for consumers holding them. That shift has accelerated the pace of adoption, especially in regions where regulators have issued explicit guidance.
The three obstacles left
Despite the regulatory progress, the executives identified three areas that remain problematic. First, infrastructure: the systems that support stablecoin transactions still struggle with speed, cost, and interoperability across different blockchains. Second, privacy: users and institutions want stronger protections for transaction data without compromising compliance. Third, distribution: getting stablecoins into the hands of everyday people and businesses requires partnerships with banks, exchanges, and payment apps that haven't fully embraced the technology.
Distribution as the biggest bottleneck
Distribution drew the most attention from the panel. Even as issuers launch new stablecoins, the executives argued that access points remain too few. Without widespread availability on mainstream platforms, stablecoins can't replace traditional payment methods for most users. The executives suggested that solving distribution will require collaboration between crypto companies and legacy financial firms — a process that is moving slowly.
What the panel left unresolved
The conversation at Consensus 2026 didn't offer a timeline for when those hurdles might be cleared. The executives acknowledged that infrastructure upgrades, privacy tools, and distribution deals are all works in progress. They stressed that regulation alone won't carry stablecoins to the next level. The technology and the market have to catch up.
