“Tether-Ascend Bit-J Ventures” removes the role of stablecoins in the Web3 world
Three executives from Tether, Ascend Bit, and J Ventures decode the future of stablecoins, their role in driving Web3 and real-world applications, pointing out that this is a significant step from “Digital Asset” to “Digital Finance.”
November 13, 2568-Thailand Blockchain Week 2025 Held on 8-9 November, a special seminar on the topic “The Role of Stablecoin in Web3 and Real World Adoption” The discussion included participants from various corners of the digital finance industry, including: Queenie Le Which is the Regional Lead APAC from Tether, Apinan Dabphet Managing Director from Ascend Bit, and Thanawin Ratmetha Deputy CEO of J Ventures decode the future of stablecoins, their role in driving Web3 and real-world applications.
The discussion began with the key question: “What have been the drivers of stablecoin growth over the past two to three years?”
Queenie Le, Regional Lead APAC from Tether
Queenie Le from Tether Explain that Stablecoins have transformed from a niche asset class into a pillar of the global digital asset economy. There are 4 important factors that drive growth, including:
- Utility: Because stablecoins have proven to be practical solutions for business.
- Speed & Cost: International bank transfers can take days and are expensive, while stablecoins like USDT cost less than $1 and can be transferred within minutes.
- Programmable Payment capability: Created by blockchain technology
- Transparency & Trust: This comes from tighter regulation, such as Tether, which requires 100% asset backing and real-time disclosure.
side Apinan Dabphet from Ascend Bit The growth of stablecoins can be divided into two levels: “global level” and “Thailand level.” At the global level, the key factors are: “Institutional Trust” In the past, settlements required T+1 or T+2, but now many institutions accept that stablecoins have a value equivalent to the dollar without the need to be converted back into the banking system, resulting in real-time settlement transactions.
At the Thai level, the Bank of Thailand is currently in the "Sandbox" testing phase to test the Programmable Payment Token (THBT) system, which could be the beginning of a new financial structure in the country.
Thanawin Ratmetha (2nd from left), Deputy CEO of J Ventures and Apinan Dabphet, Managing Director of Ascend Bit.
while Thanawin Ratmetha from J Ventures We are now moving from "Digital Asset" to "Digital Finance" in full. Stablecoins like THBK or USDT will become the foundation for new financial services such as lending, peer-to-peer lending, and smart contract-based credit scoring systems, which will open up huge business opportunities in the future.
Regarding the Asia-Pacific region, Queenie Le points out that Southeast Asia is leading the way in crypto adoption due to several key factors, including the widespread use of QR Code payments, which have become the basis for programmable payments, and cross-border remittances, with countries like the Philippines and Vietnam ranking among the top global remittance destinations.
This includes use cases for small and medium-sized businesses (SMBs) that use stablecoins like USDT to more easily pay suppliers in US dollars.
All this reflects that “financial inclusion” opportunities are actually happening in this region.
When asked about the "obstacles to stablecoin adoption in Thailand," Thanawin stated that it's not really a problem, but rather an "opportunity." However, this opportunity comes with two major challenges: "understanding" and "wide acceptance."
Many people still mistakenly believe that stablecoins will replace PromptPay, which is not true. The two systems serve different purposes. PromptPay is already an excellent payment infrastructure, while stablecoins are complementary technologies that enable more automated and programmable payments.
Another obstacle is “user experience,” as the average person probably won’t immediately switch to a wallet like MetaMask. Therefore, J Ventures aims to develop a user-friendly digital wallet that allows the average person to access the technology without having to understand the blockchain system too deeply.
Abhinant also addressed the "risks of stablecoins," emphasizing that users should be cautious when converting funds into stablecoins, as despite their low volatility, they are not without risk. He cited the cases of TerraUSD (UST), which previously delivered returns as high as 20% per year, and Stteam Finance (XUSD), which previously collapsed, as important lessons for everyone to understand the importance of "transparency and governance," advising people to only use stablecoins that have been audited and disclosed transparently.
At the end, Queenie Le gave her outlook on “the future of stablecoins in the next 5 years”, which will have to go through 3 important phases:
- Regulation: Must be properly recognized, classified and regulated.
- Adoption: It needs to be used in real-world life, both in the form of global stablecoins like USDT, USDC, and local stablecoins like THBT.
- Interoperability: It must be able to connect with the existing banking system to enhance the efficiency of the existing financial system.
Thanawin also added that stablecoins will be a significant driving force in the creation of new financial products and will allow small businesses to compete with large corporations. “This is the technology that will make a small person become a big person.”
Apinant concluded by saying that the world is entering an era where "being on-chain is the next iteration of being online." This means that being on the blockchain will become as common as being on the internet today, and stablecoins will be a crucial bridge connecting the old and new worlds of finance.
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