We recently connected with Alice Li, the Head of North America of Foresight Ventures, a crypto VC that bridges East and West.
With a research-driven approach and offices in the US and Singapore, they claim to be a key player focused on crypto investment and incubation.
During our conversation, Alice Li of Foresight Ventures touched on several important developments.
One of the key areas we discussed focused on the global race to stablecoin domination is heating up. Most recently, the US’s GENIUS Act and STABLE Act, passed in support of regulatory oversight and innovation, are projected to tip stablecoin volumes past the $2 trillion mark, intensifying steep global competition to keep pace.
As trust builds and infrastructure matures, institutions and enterprises are deepening their roots in the industry — and today, 25% of businesses globally now accept stablecoins as payment.
Against this backdrop, we talked about how institutional adoption could redefine mainstream integration, potentially blurring the boundaries between TradFi and DeFi.
Li says we are entering a new era of stablecoin adoption—one where programmable digital dollars aren’t just powering payments, but bridging long-standing gaps in traditional finance.
Our discussion with Alice Li is shared below.
Crowdfund Insider: 2025 has been called a “regulatory inflection point” for stablecoins, especially in the U.S., with the introduction of the GENIUS and STABLE Acts.
How do you see these developments reshaping institutional confidence and adoption of stablecoins?
Alice Li: The GENIUS and STABLE Acts mark a historic milestone for digital finance, signalling that the US is taking tangible steps to shape regulatory standards for stablecoins.
For institutions, this clarity is crucial, providing the legitimacy needed for both bank and non-bank issuers while introducing rigorous compliance measures and consumer protection safeguards. Together, these frameworks bring greater credibility to the sector without compromising innovation.
But regulation alone is not enough. Stablecoins have the potential to transform the global payments landscape, delivering faster settlement, lower costs, and around-the-clock liquidity — we already see this happening with stablecoin transaction volumes surpassing Visa’s global network at US$232 billion.
To realise this at scale, we need to bridge the gap between on-chain ecosystems and legacy frameworks. That means ensuring stablecoins can integrate seamlessly into enterprise systems, payment networks, and consumer applications.
Most importantly, regulatory clarity also helps imbue confidence that held back institutional participation, including past concerns over reserve transparency, auditability, and issuer accountability. By establishing clear standards for asset backing, disclosure, and oversight, these frameworks are building the trust needed for stablecoins to scale responsibly, anchored by trust and credibility.
In Asia, we’re already seeing promising regulatory progress with regulators in Singapore and Hong Kong leading the way in establishing clear stablecoin frameworks. Singapore’s licensing regime for single-currency stablecoins provides certainty around reserve backing, redemption rights, and issuer obligations.
Meanwhile, Hong Kong is advancing a proposed licensing regime that mandates full asset backing and robust governance for fiat-referenced stablecoins. Together, these markets are laying the groundwork for stablecoins to become part of mainstream financial infrastructure — trusted not just by crypto-native users, but also by enterprises, banks and consumers alike.
With the U.S. stablecoin regulations now moving in tandem with other major lighthouse jurisdictions, global regulatory alignment is increasingly within reach. Clear, interoperable frameworks will be essential to unlocking cross-border use cases and scaling institutional adoption worldwide.
Crowdfund Insider: As a VC, what are some of the most promising stablecoin use cases you’re seeing emerge globally, and what do they signal about where the market is headed?
Alice Li: At Foresight Ventures, we see stablecoins as evolving from a crypto-native utility into foundational financial infrastructure. As the market moves beyond early experimentation to real-world deployment, stablecoins are no longer limited to on-chain ecosystems.
They are now being embedded into enterprise workflows, facilitating cross-border trade, and gaining traction across mainstream platforms. What we’re witnessing is the emergence of a stablecoin-native economy — where programmable dollars are beginning to replace traditional rails for settlement, liquidity, and yield.
This shift is clearest in three emerging use cases:
Integration with traditional payment networks
Stablecoins are increasingly being embedded into the core infrastructure of global payment platforms. Stripe’s acquisition of Bridge enables businesses to issue and orchestrate stablecoin flows, while PayPal, Venmo and Apple Pay are integrating stablecoin functionality into familiar interfaces. This marks a pivotal shift where stablecoins operate behind the scenes to power fast, low-cost transactions without requiring users to engage directly with blockchain ecosystems.
Mainstream merchant and consumer adoption
Beyond infrastructure, stablecoins are gaining momentum at the point of use. Merchants on platforms like Shopify are now accepting stablecoin payments via Helio and Solana Pay, while crypto cards like Raincards and the Ether.fi Visa card enables everyday spending of digital dollars. This visible adoption showcases stablecoins moving from their pilot phase to practical, revenue-generating tools for businesses and individuals alike.
Growing cross-border settlements
Stablecoins are also proving especially valuable in the cross-border landscape. Platforms like BVNK and Codex are enabling B2B settlements that replace legacy banking rails with faster, more cost-efficient alternatives.
Businesses can now bypass SWIFT, eliminate the need for multiple foreign currency accounts, and operate with 24/7 liquidity and real-time settlement. For global enterprises, stablecoins are becoming a critical tool for improving capital efficiency and operational agility.
These use cases reflect a broader shift in the role stablecoins are playing in the financial system. They’re expanding access to financial services, deepening integration with traditional institutions, and accelerating the pace of regulatory clarity.
Together, these trends point to a more open, interoperable, and resilient financial future — one where stablecoins play an increasingly central role.
Crowdfund Insider: As more global businesses now accept stablecoins as payments, what does that signal to you for mainstream adoption?
Alice Li: Businesses do not adopt new payment methods for novelty; they adopt them when there’s a clear impact on the bottom line. The growing adoption of stablecoins across B2B and B2C settings reflects a rising recognition of their practical utility in addressing long-standing financial inefficiencies.
From reducing transaction costs from 3-5 per cent to as low as 0.1-0.3 per cent, to enabling faster settlement, 24/7 liquidity, and improved FX efficiency, stablecoins are delivering tangible benefits that drive real business outcomes.
As more businesses adopt stablecoins to boost efficiency, they’re also paving the way for broader integration of Web3 technologies. Stablecoins, in particular, are emerging as a gateway for enterprises to engage with decentralised infrastructure, without having to overhaul existing systems.
Their utility is extending well beyond the point of sale, finding applications in enterprise treasury operations, cross-border supplier payments, and even payroll, signalling a new era of deeper, more practical shift toward blockchain-enabled finance
More than just a sign of growing acceptance, the rise in stablecoin adoption by global businesses marks a structural shift in the payments landscape.
Stablecoins are increasingly becoming the foundation of a financial system that is faster, more inclusive, and inherently interoperable. As enterprise adoption accelerates, we expect to see a deeper convergence between TradFi and DeFi, where digital assets are no longer viewed as alternatives but as integral components driving the evolution of global finance.
Crowdfund Insider: How do you see stablecoins fitting into future verticals like on-chain finance, real-world asset tokenisation, or cross-border trade?
Alice Li: Stablecoins are rapidly evolving from trading tools into foundational infrastructure for the next generation of finance. Their programmability, speed, and global accessibility uniquely position them as a transactional layer underpinning emerging verticals such as on-chain finance, tokenised real-world assets (RWAs), and cross-border commerce.
For on-chain finance, stablecoins already serve as the backbone for decentralised finance, anchoring price-stable liquidity pools and enabling infrastructure for increasingly complex financial instruments. Their programmability allows automated lending and borrowing protocols, helping to mitigate volatility and counterparty risks often associated with crypto assets.
The rise of yield-bearing stablecoins further bridges TradFi yields with DeFi innovation, introducing hybrid instruments like tokenised treasury bills offering 24/7 liquidity and settlement. Stablecoins today have shifted the narrative from speculative digital assets to a capital-efficient building block of programmable finance.
In the realm of RWA tokenisation, stablecoins serve as a settlement layer for tokenised treasuries and a wide range of assets, including real estate, fine arts, and even carbon credits.
These fiat-pegged digital currencies provide the stability and liquidity necessary for seamless, on-chain settlement of traditionally illiquid assets.
By integrating stablecoins into RWA ecosystems, settlements can be faster, transparency improved, and investor access democratised. This ultimately opens doors to an entirely new asset class, unlocking global capital flows into markets previously out of reach.
When it comes to cross-border trade, stablecoins present a compelling alternative to the costly and fragmented traditional payments infrastructure. In Asia and across emerging markets, we’re already seeing early adoption for use cases such as remittances, B2B payments, and supplier settlements.
With the rise of enterprise-grade solutions like Visa’s stablecoin API, stablecoins have streamlined trade finance, reduced foreign exchange friction, and expanded economic inclusion across borders.
With stablecoin applications already in active use and new ones rapidly emerging, the question is no longer if adoption will happen, but when and where it will scale next.
Crowdfund Insider: As emerging markets like LATAM and Southeast Asia lead in stablecoin adoption, what lessons can developed markets draw from their ability to leapfrog legacy infrastructure?
Alice Li: For emerging markets like LATAM and Southeast Asia, stablecoins represent a powerful opportunity for local economies to participate in global trade and mitigate economic instability tied to volatile local currencies.
Its benefit as a stable, dollar-pegged digital asset is seen as a reliable store of value and a hedge against local currency volatility. Coupled with the push to modernise financial infrastructure, this distinct combination of drivers has paved the way for emerging markets to be leaders in stablecoin adoption.
While stablecoins have gained prominence in emerging economies largely due to economic instability, including high inflation and currency devaluation, these markets are now setting new benchmarks for the finance industry in the digital age.
Take Southeast Asia as an example, Indonesia has pioneered its local currency-backed stablecoin to strengthen monetary sovereignty and reduce dependency on the US dollar.
Such non-USD stablecoins also lower barriers to critical financial services, enabling users to easily access financial instruments more affordably and efficiently. Regulations and policy have also been pivotal, with regulators in these markets establishing clear frameworks to foster trust, stability, and responsible innovation in the stablecoin space.
Today, Indonesia has strengthened its regulatory oversight of crypto assets, including stablecoins, following the lead of regional peers like Singapore, ultimately fostering greater long-term clarity, confidence and trust in the use of stablecoins.
However, at the heart of the stablecoin’s success in LATAM and Southeast Asia lies its vibrant startup and fintech ecosystem. Buoyed by its existing dynamic landscape of cross-industry collaboration, government-led initiatives and deep developer talent, these regions have provided fertile ground for stablecoin innovation to thrive.
Their success highlights the critical role of adaptability and innovation in shaping the future of digital finance. As emerging markets look to modernise their financial infrastructure, lessons from LATAM and Southeast Asia will offer valuable insights, demonstrating how stablecoins can drive greater efficiency, financial inclusion, and systemic resilience on a global scale.