Stablecoins are becoming more relevant to payment service providers, remittance firms, FX businesses, wallet providers, and payment infrastructure companies.
Some PSPs may touch stablecoins directly. Others may rely on a partner, custodian, exchange, wallet provider, liquidity provider, or infrastructure platform that uses stablecoins somewhere in the transaction flow.
Chainalysis recently published a useful overview of stablecoin security risks, including phishing, fake tokens, smart contract exploits, custodial risk, oracle vulnerabilities, and the different risk profiles of centralized and decentralized stablecoins.
Those risks matter. But for PSPs, there is another practical question:
Can the organization show how stablecoin-related activity is controlled?