We don’t see stablecoins as just faster payments. We see them as the foundation for a new kind of financial system. One where people control their money, where savings earn real yield, and where everything works at internet speed. At Perena, we're building something entirely new. It’s not a traditional bank. It doesn’t lend your money out without asking. It doesn’t rely on government backstops. It doesn’t hide risk behind fine print. Instead, it gives users direct control over their digital dollars, full transparency into how capital is used, and access to yield through fully reserved, on-chain tools. Call it a Stablebank.

Stablecoins are quietly becoming one of the most powerful forces in global finance. But the reasons they’re gaining traction aren’t the same everywhere. If you live in the U.S., the narrative might feel like an extension of fintech. Better rails, programmable money, new payment APIs etc… But outside the U.S., stablecoins aren’t a convenience. They’re a necessity.

This comprehensive analysis examines how enterprises are leveraging stablecoins to address real-world frictions in global finance and highlights key barriers that must be overcome for stablecoins to achieve mainstream adoption

If you’ve been watching the intersection of macroeconomic uncertainty and digital assets, you’ve probably noticed something interesting. Stablecoins keep showing up in places that have traditionally been reserved for prominent players in TradFi. That includes capital markets, U.S. Treasury bills, and cross-border money flows. What used to be a crypto curiosity is now sitting alongside the safest financial instruments in the world.

Often called crypto’s “killer app,” stablecoins began as a tool for crypto traders. But they’ve since evolved into something far more powerful: the quiet backbone powering a new era of global money movement.

Momentum is building in Washington as both the House and Senate released updated drafts of their stablecoin bills in March 2025 — the STABLE Act in the House and the GENIUS Act in the Senate.

The current narrative claims that tokenization will solve many financial problems, which may or may not be true. Stablecoins cause net new money issuance, just like banks. The current stablecoin trajectory poses significant questions about how they interface with the traditional fractional reserve banking system — where banks keep only a fraction of deposits as reserves while lending out the rest, effectively creating net new money.

Spring is coming... 🌸

Money matters, that much is clear. However, its characteristics and essence are distinct subjects, essential for anyone interested in material welfare or the financial system. As such, a historical exploration is both necessary and revealing, not only for understanding money’s role in the past and present but, more importantly, for shaping how we think about it in the future.