Alec, head of HTX Ventures: Stablecoins are evolving into global financial infrastructure, and the key lies in "compliance + composability"

Alec Goh, head of HTX Ventures, highlighted at GM Vietnam 2025 that stablecoins, with a market cap exceeding $250 billion (up 60% YTD), are transitioning into global financial infrastructure, driven by regulatory clarity and traditional institution involvement. Key points from his roundtable discussion:

Stablecoins are foundational for value settlement and liquidity in digital finance, particularly in on-chain credit markets, RWAs, and cross-border trade.
Future DeFi growth hinges on mature solutions like DID, compliance layers, and reserve proof mechanisms enabling fully compliant systems.
The evolution of stablecoins and DeFi relies on balancing "compliance + composability," where legal frameworks and on-chain technologies coexist without centralization vs. decentralization binary opposition.
User needs remain paramount; decentralized systems will prevail if they offer superior value, regardless of structural preferences.

PANews reported on August 3rd that according to official news, Alec Goh, head of HTX Ventures, was invited to attend GM Vietnam 2025-Vietnam Blockchain Week and shared his profound insights on the development of stablecoins at the roundtable forum on the theme of "Stablecoin - The Most Viable Use Case for Crypto Adoption".

Alec noted that the market capitalization of stablecoins has exceeded $250 billion, a 60% year-to-date increase, demonstrating strong upward momentum. With clear regulation in countries like the United States and the active participation of traditional institutions, stablecoins are evolving from crypto-native tools into global financial infrastructure and are currently in the early stages of mainstream integration. He added that stablecoins are becoming the foundation of value settlement and liquidity within digital financial infrastructure in key scenarios such as on-chain credit markets, RWAs, and cross-border trade.

When talking about the future development path of DeFi, Alec believes that as solutions such as DID, compliance layer and reserve proof mechanism continue to mature, fully compliant DeFi will become possible.

He emphasized: "The future is not a binary opposition of 'centralization vs. decentralization,' but rather a 'combination of compliance and composability.' Legal frameworks and on-chain technologies will evolve together to ensure global expansion while preserving the core principles of encryption. Whether the system is centralized or decentralized, the most important thing is to meet user needs. If decentralized exchanges continue to provide better value, the market will naturally lean towards them."