Stablecoins Can Transform Business Expenses into Revenue Streams, According to Paxos Labs Co-Founder

The $300 billion stablecoin market has evolved beyond its initial purpose of facilitating fast international transactions, with companies now exploring their potential applications. This shift is driving a new wave of adoption, according to Chunda McCain, co-founder of Paxos Labs, who notes that the industry is transitioning from basic infrastructure to practical business use cases. "Initially, the focus was on obtaining a stablecoin. Now, the question is: what's next?" McCain stated in an interview with CoinDesk. Recently, Paxos Labs raised $12 million in a strategic funding round led by Blockchain Capital, with participation from Robot Ventures, Maelstrom, and Uniswap, to develop a 'financial utility stack' that enables companies to convert digital assets into products through a single integration. The newly launched Amplify Suite offers three core tools: Earn, which provides yield on digital assets; Borrow, which enables lending against them; and Mint, which supports the issuance of branded stablecoins. This allows firms to integrate tokens into their business and add capabilities over time. For years, enterprise crypto adoption focused on 'first-touch' capabilities like trading, custody, or issuing a stablecoin, which rarely generated returns on their own, according to McCain. "Stablecoins have been loss leaders for years," he said. However, the opportunity lies in how these assets are utilized. Payments are a clear example, where merchants typically incur 2% to 3% in fees, while stablecoin rails can reduce these costs and even generate yield on balances held on-chain. "You convert a cost into revenue," he said. Some novel use cases emerge at the intersection of payments and credit. Payment providers already track merchant revenues and cash flow, positioning them to underwrite loans, McCain argued. This could enable merchants to access financing based on real-time performance, earn yield on incoming payments, and settle instantly across borders. Although these models are still in their early stages, the building blocks are starting to come together, he said. Not every company needs its own stablecoin to capture these benefits. While companies like PayPal have launched branded tokens to control payments and margins, issuing one requires significant investment in liquidity, compliance, and distribution. "If you only need the economics, you don't need to build your own," McCain said. Many firms can instead integrate existing stablecoins and still benefit from lower costs and added yield. This shift may lack the hype surrounding big firms like Western Union announcing their own token, but it has a tangible impact on how businesses operate. Stablecoins are starting to restructure margins, unlock credit, and change how money moves globally, especially where traditional systems remain costly or slow. "It may sound boring, but this is the math," McCain said.