Ship or Die at Accelerate 2025: Lightning Talk: Dynamic (Ellie Farrisi - Dynamic)

The crypto world is buzzing with excitement as stablecoins take center stage, offering a glimpse into the future of digital finance. At Solana's Accelerate 2025 conference, Ellie Farrisi, leader of wallet infrastructure at Dynamic, delivered a lightning talk that's set to shake up the industry's perspective on stablecoins.

Summary

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Ellie Farrisi, former founder of Bello and current leader of wallet infrastructure at Dynamic, shared insights from over 100 conversations with fintech providers and payment companies about stablecoins. She noted a significant shift in dialogue over the past six months, with companies now more interested in the unique capabilities of stablecoins beyond simple fiat conversion.

The stablecoin market has seen explosive growth, with a 48% increase in the last year alone, reaching a staggering $239 billion. This growth is attributed to regulatory shifts and improved infrastructure, including faster transaction speeds, better on-ramp and off-ramp services, and new financial products like lending and borrowing.

Farrisi highlighted key requirements for companies looking to build with stablecoins, emphasizing the importance of choice, security, and usability. She showcased examples of how Dynamic is enabling companies like Stripe, Actual, and DeFi apps to integrate stablecoins into their services, providing users with more options and functionality.

The talk concluded with key takeaways about the growing interest in stablecoins from both Web2 and crypto-native businesses, the demand for faster and safer money transfers, the need for scalable infrastructure, and the potential for new revenue streams and business models in the stablecoin ecosystem.

Key Points:

Shift in Stablecoin Dialogue

The conversation around stablecoins has evolved significantly over the past six months. Previously, companies were primarily interested in the basic conversion of fiat to stablecoins and back. Now, there's a growing curiosity about what can be done with money once it's in stablecoin form. This shift indicates a maturing market where stablecoins are no longer seen as just a bridge for transactions but as a destination currency with unique capabilities.

This change in perspective is driving innovation in the space, with companies exploring new use cases and financial products built around stablecoins. The ability to hold value in a stable digital asset while accessing blockchain-based services is opening up new possibilities for both businesses and consumers.

Explosive Market Growth

The stablecoin market has experienced remarkable growth, with a 48% increase in the last year alone, reaching a total value of $239 billion. This surge is indicative of the growing trust and utility of stablecoins in the broader financial ecosystem. The growth can be attributed to several factors, including regulatory clarity, improved infrastructure, and increased adoption by mainstream financial institutions.

As the market expands, it's creating opportunities for new entrants and established players alike. The rapid growth is also attracting attention from traditional finance, potentially leading to further innovation and integration of stablecoins into everyday financial services.

Infrastructure and Usability Improvements

Farrisi highlighted the significant improvements in stablecoin infrastructure and usability. Lightning-fast transaction speeds, enhanced on-ramp and off-ramp services, and the development of stablecoin-compatible cards have all contributed to making stablecoins more practical for everyday use. These advancements are crucial in bridging the gap between traditional finance and the crypto world.

Moreover, the ability to use stablecoins for lending, borrowing, and other financial activities is expanding their utility beyond simple value transfer. This increased functionality is making stablecoins more attractive to both individuals and businesses looking for efficient, borderless financial solutions.

Choice and Flexibility in Implementation

One of the key points emphasized in the talk was the importance of choice and flexibility when implementing stablecoin solutions. Farrisi used the example of Stripe's integration with Dynamic, which allows users to transact on multiple chains using over 500 different wallet providers. This approach of meeting customers where they are, rather than limiting them to specific chains or tokens, is seen as a winning strategy in the evolving crypto landscape.

The emphasis on choice reflects a broader trend in the crypto industry towards interoperability and user-centric design. By allowing users to choose their preferred blockchain and wallet, companies can cater to a wider audience and foster greater adoption of stablecoin technologies.

Security and Ease of Use

Security remains a paramount concern in the crypto space, and Farrisi discussed how Dynamic is addressing this through embedded wallets. These wallets, provided in partnership with companies like Actual, allow users to hold and manage stablecoins without the complexity of managing private keys. This approach significantly lowers the barrier to entry for new users while maintaining high security standards.

The focus on user-friendly solutions is crucial for widespread adoption of stablecoins. By simplifying the user experience and reducing the technical knowledge required to interact with cryptocurrencies, companies like Dynamic are paving the way for broader acceptance of stablecoins in everyday financial transactions.

Facts + Figures

• The stablecoin market has grown by 48% in the last year
• The total value of the stablecoin market has reached $239 billion
• Dynamic has had over 100 conversations with fintech providers and payment companies about stablecoins in the last six months
• Stripe's integration with Dynamic provides access to all major blockchain networks and over 500 wallet providers
• DeFi app, mentioned in the talk, has onboarded over 300,000 users
• The shift in stablecoin dialogue has occurred over the past six months
• Dynamic works with Actual to provide same-day invoicing for global contractor payments
• Nearly all major CEOs of fintech companies have been discussing stablecoin integration in recent months

Top quotes

1. "More people are interested in keeping their money on chains through stablecoins."
2. "Choice wins."
3. "The value is staying on chain."
4. "Builders, in order to be building in the space, they need and want infra that scales."
5. "When the value stays on chain, it unlocks new revenues, new markets, new products that can come from that."
6. "This conversation around stablecoins is no longer a thing of when. It's happening now."

Questions Answered

What is driving the growing interest in stablecoins?

The growing interest in stablecoins is being driven by several factors, including regulatory shifts, improved infrastructure, and the realization of new possibilities beyond simple fiat conversion. Companies are now seeing stablecoins as a destination for holding value rather than just a bridge for transactions. This shift is opening up new opportunities for financial products and services that weren't previously possible with traditional fiat currencies.

How has the stablecoin market grown recently?

The stablecoin market has experienced explosive growth, increasing by 48% in the last year alone. The total value of the stablecoin market has now reached $239 billion. This rapid growth reflects increasing trust in stablecoins and their expanding utility in the financial ecosystem. It also indicates a growing acceptance of stablecoins as a viable alternative to traditional fiat currencies for certain types of transactions and financial activities.

What improvements have made stablecoins more practical for everyday use?

Several key improvements have made stablecoins more practical for everyday use. These include lightning-fast transaction speeds, enhanced on-ramp and off-ramp services, and the development of stablecoin-compatible cards. Additionally, the ability to use stablecoins for activities like lending and borrowing has expanded their utility. These advancements have made it easier for both individuals and businesses to integrate stablecoins into their financial operations and daily transactions.

How is Dynamic addressing security concerns with stablecoins?

Dynamic is addressing security concerns through the use of embedded wallets. These wallets allow users to hold and manage stablecoins without the complexity of managing private keys themselves. This approach significantly reduces the risk of users losing access to their funds due to misplaced or forgotten private keys. By simplifying the user experience while maintaining high security standards, Dynamic is making it easier and safer for people to enter the world of stablecoins.

What role does choice play in stablecoin adoption?

Choice plays a crucial role in stablecoin adoption. Companies like Stripe, through their integration with Dynamic, are offering users the ability to transact on multiple blockchain networks using a wide variety of wallet providers. This approach of giving users flexibility in how they interact with stablecoins is seen as a winning strategy. By meeting customers where they are and allowing them to use their preferred tools and platforms, companies can foster greater adoption and usage of stablecoins.

How are stablecoins changing international payments?

Stablecoins are revolutionizing international payments by offering faster, cheaper, and more flexible options for cross-border transactions. Companies like Actual are using stablecoins to enable same-day invoicing for global contractor payments. This is particularly beneficial for people in countries experiencing hyperinflation, as it allows them to hold their earnings in a more stable currency. Stablecoins are removing many of the barriers and inefficiencies associated with traditional international money transfers.

What new opportunities are emerging from increased stablecoin usage?

Increased stablecoin usage is unlocking new opportunities across various sectors. As more value stays on-chain, it's creating possibilities for new revenue streams, markets, and products. This includes innovative financial services, more efficient payment systems, and novel business models built around stablecoins. The integration of stablecoins into existing financial infrastructure is also opening up opportunities for traditional businesses to tap into the benefits of blockchain technology.

How are Web2 companies approaching stablecoins?

Web2 companies, particularly in the fintech sector, are showing increased interest in stablecoins. Many major CEOs of fintech companies have been actively exploring how to integrate stablecoins into their services. These companies are recognizing the potential of stablecoins to enhance their offerings, improve efficiency, and tap into new markets. The approach often involves partnering with crypto-native companies like Dynamic to leverage existing blockchain infrastructure and expertise.