Core Insights - The integration of stablecoins into existing banking systems can streamline treasury workflows, manage user balances, and facilitate international expansion with reduced costs and friction [1][3][4] Group 1: Demand for Stablecoins - There is a growing demand for infrastructure that allows enterprises to issue and manage stablecoins without developing internal banking capabilities [1][3] - Stablecoins are becoming a critical component for enterprises as they navigate compliance, custody, accounting, and scalability challenges [1][3][4] Group 2: Operational Efficiency - Enterprises are seeking stablecoins that provide control over transactions, including how they are classified, taxed, and reconciled across legacy systems [6][7] - The need for always-on, highly secure custody systems that integrate seamlessly into application workflows is essential for enterprises [7][9] Group 3: Market Trends and Use Cases - The evolution of custody and key management has been significant, with major tech companies developing infrastructure to support secure key management at scale [9][10] - Enterprises are increasingly knowledgeable about stablecoins, with detailed planning sessions focused on regulatory and operational realities [10][11] Group 4: Internal vs. External Use Cases - The first archetype involves large multinationals managing complex treasury operations, where stablecoins can enhance settlement speed and reduce manual processes [12] - The second archetype consists of enterprises aiming to serve as financial hubs for users, allowing them to hold balances on-platform and facilitate global money movement at minimal cost [13] Group 5: Future of Stablecoins in Commerce - As more enterprises adopt stablecoins, interoperability will emerge as a key challenge, with companies like Bastion working on shared banking rails and liquidity bridges [14][15] - The outcome will not be a single global currency but a layer of enterprise-issued money that offers programmability and compliance benefits [15]