$690B Stablecoin Opportunity? Crypto CEO Tells Senate Digital Assets Can Cut Costs

Key Takeaways:

• Cody Carbone, CEO of Digital Chamber, told the United States Senate that digital assets can help reduce payments, remittance and asset ownership costs.
• Stablecoins and payment rails built on blockchain could cut costs of cross-border payments and merchant transactions.
• Tokenization can enhance the transfer of ownership, real estate transactions, and investment markets.

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    Follow us on Google NewsThe Digital Chamber of Commerce’s CEO Cody Carbone appeared before lawmakers in Washington to discuss how technological blockchain blocks could help alleviate financial friction for households and businesses in America.

In the Senate Banking Committee, Carbone testified that crypto is not an inflation- or housing-busting tool, but can reduce payment, remittance and asset transfer costs.

Table of Contents

• Stablecoins Could Reduce Cross-Border Payment Costs
• Business Payments Are Becoming a Major Stablecoin Market
  • Payment Competition Could Lower Merchant Costs
  • Tokenization Expands Beyond Crypto Markets

Stablecoins Could Reduce Cross-Border Payment Costs

In the realm of remittances, the United States is the world’s leading sender of outbound transfers and Carbone emphasized that as well.

Remittances to indicated countries in the phase’s bottom quartile were hundreds of billions of dollars per year and average transfer fees exceeded international targets. Figures provided during the hearing show that fees for sending $200 abroad are still greater than $12.

By converting value to flow freely through blockchain networks, regulated stablecoins on the dollar could lower those costs, he said. The infrastructure of stablecoins can render such transactions more efficient, cheaper and transparent, Carbone said.

Read More: TRON Hits Massive $167B Stablecoin Volume as Network Activity Tops 10.6M Transactions

## Business Payments Are Becoming a Major Stablecoin Market

The testimony stressed the issue of the increasing adoption of stablecoins in B2B payments.

Recent industry estimates suggest that B2B transactions now represent a majority of stablecoin payment activity globally. Companies increasingly use stablecoins for treasury operations, supplier payments, and international settlements.

Payment Competition Could Lower Merchant Costs

The Digital Chamber CEO also pointed to payment processing costs inside the United States. Card payments dominate consumer spending, but merchants continue to absorb interchange fees and processing expenses that eventually affect prices.

According to figures cited during the hearing, payment network costs remain a major burden for businesses, particularly smaller merchants operating with narrow profit margins.

Carbone said regulated stablecoins should compete alongside cards, bank transfers, and existing payment methods rather than replace them. The blockchain payment rails could provide quicker settlement at reduced transaction fees to give merchants more options and push added rivalry into the payments marketplace.

Read More: $33 Trillion Stablecoin Boom: USDC Leads as Crypto Payments Race Toward $56T by 2030

Tokenization Expands Beyond Crypto Markets

Tokenization also was the topic of much of the testimony. Carbone suggested that blockchain ownership records may lower administrative expenses within financial markets, supply chains, collateral management, and in real-estate deals.

There may be a lot of paperwork and many intermediary stages for property purchase, title transfer, settlements, and property ownership verification. Some of those components of those processes could be streamlined by a tokenized system

The testimony included a forecast indicating that in the next decade, tokenized assets could be worth trillions of dollars in total value. Regulatory clarity is still crucial, Carbone added.