Bitwise CIO Sees Trillion-Dollar Stablecoin Growth as Tech Giants Expand Trials

Meta and DoorDash stablecoin trials may push crypto wallets and digital payments into mainstream use.

Stablecoins are gaining traction beyond crypto trading as major technology and payment companies test new cross-border payment systems. Recent pilot programs from DoorDash and Meta point to a growing interest in blockchain-based payouts for gig workers and creators. Bitwise CIO Matt Hougan believes those early experiments could eventually support trillions of dollars in stablecoin activity.

Bitwise CIO Points to Meta and DoorDash in Digital Dollar Adoption Push

Recent payment trials from DoorDash and Meta have strengthened Hougan’s long-term outlook for stablecoins. Speaking on the sector’s future, the Bitwise executive said the projects reveal how digital dollars could move into everyday financial activity rather than remain tied mainly to crypto trading.

DoorDash recently partnered with Stripe to test stablecoin-powered payments across more than 40 countries. The delivery company manages payments involving millions of drivers, merchants, refunds, and customer transactions daily. Fiat-pegged tokens could reduce friction by replacing local banking details with simple wallet addresses.

Meta has also started stablecoin payout trials for creators in Colombia and the Philippines using networks tied to Solana Labs and Polygon Labs. Reports estimate the global creator economy includes more than 200 million contributors. 

Hougan argued simplicity matters as much as transaction speed or lower fees. Traditional wire transfers often require several business days and high processing costs. On the other hand, stablecoins can move funds within seconds while avoiding many banking intermediaries.

Stablecoins Move Closer to Mainstream Payments as Supply Hits Record Levels

Bitwise believes global technology companies with distributed contractor networks may gradually adopt similar payment systems. Such adoption could place crypto wallets into the hands of millions of new users.

Hougan added that stablecoins may become crypto’s largest onboarding channel. Users with stablecoin wallets can later access bitcoin, decentralized finance, and other blockchain services with minimal friction.

Stablecoin supply has already climbed sharply. Data from DeFiLlama shows dollar-pegged assets now exceed $323 billion in value. Tether accounts for roughly $189.5 billion of that figure, while Circle Internet Financial’s USD Coin represents about $79 billion.

Image Source: DeFiLlama

Traditional financial firms are also entering the sector. Western Union recently launched its USDPT stablecoin on Solana for round-the-clock settlement services across more than 200 countries. Meanwhile, Visa said its stablecoin settlement pilot reached a $7 billion annualized run rate.

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