Hey everyone,
This podcast is a live panel I hosted at the Bitso Business Stablecoin Conference in Mexico City in June. This session focused specifically on identifying and solving the practical roadblocks to stablecoin adoption, both on the payments and issuance side.
Joining me for this session are:
Joao Reginatto, Chief Strategy Officer at M0
Monica Ramirez, Managing Director at Anchorage Digital
Olivia Vande Woude, Tokenization Lead at Ava Labs
Sheraz Shere, GM for Payments and Commerce at Solana Foundation. I
Our panel dug into why the technology and the regulatory backdrop have largely caught up, but adoption inside real companies hasn’t. Accounting treatment, internal change management, vendor selection, and a shortage of qualified talent are still holding enterprises back.
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Bits & Borders is Presented by Sumsub
Sumsub recently released its fourth annual State of the Crypto Industry report. The new research reveals how digital asset companies are balancing fraud prevention, regulatory pressure, and user experience as they scale in 2026. This report draws on Sumsub’s internal data from 2024–2025 and insights from 300 crypto companies surveyed outside Sumsub’s customer base.
Some of the key global highlights include:
Crypto firms are moving away from ‘growth at all costs’, with 74% now prioritizing verification accuracy over user onboarding speed (39%).
Despite fraud rates remaining flat at 2.2% from 2024 to 2025, crypto firms operate in a structurally riskier environment where targeted, automated and AI-driven attacks are the new normal.
Over half (55%) of surveyed companies confirmed they experienced fraud at least once in 2025, with 15% unsure if it happened or not–emphasizing the lag between detection capabilities and growing fraud sophistication.
Key takeaways:
M0’s Reginatto said it took MoneyGram roughly six months just to get board approval for its MoneyGram Dollar stablecoin, showing how internal governance can slow adoption more than the technology itself.
Anchorage’s Ramirez said her team’s two biggest pain points are helping companies decide whether to issue their own stablecoin versus using existing rails, and connecting banks so they can mint and redeem stablecoins while working with regulated custodians and counterparties.
Ava Labs’ Vande Woude named balance sheet classification and issuer fragmentation as the thorniest problems, noting that auditors still hesitate to treat stablecoins as cash because of de-peg and redemption risk.
Solana’s Shere said the infrastructure is about 95% ready, but the remaining 5%, legacy system integration and limited off-ramp access in certain markets, is still the blocker.
Panelists agreed the industry has a real talent shortage, with only a small pool of people who understand both blockchain and traditional finance well enough to lead a company’s digital asset strategy.
In the lightning round, Reginatto predicted more stablecoin fragmentation before consolidation, Ramirez expects new US-based stablecoin use cases to emerge, Vande Woude called the white-label stablecoin gold rush value destructive, and Shere argued on-chain credit, not payments, will be the category’s killer use case.
I found this conversation to be very informative and I hope you do as well
Have a great weekend everybody!
-AWS
