The stablecoin industry has experienced significant growth, attributed largely to the integration of stablecoin technology by major payment providers such as Stripe and PayPal. According to Polygon Labs CEO Marc Boiron, PayPal's launch of its dollar-pegged PayPal USD (PYUSD) stablecoin and Stripe's implementation of the 'Pay with Crypto' feature enabling businesses to accept USD Coin payments illustrate this trend. Traditional businesses are also recognizing the revenue opportunities presented by stablecoins, which have become a $230-billion industry, representing over 1% of the US money supply. Tether's USDt dominates the market, accounting for over 61% of the overall supply. Yield-bearing stablecoins are gaining traction, with Ondo Finance's USDY allowing users to earn as much as 4.35% annual yield. Boiron notes a growing interest in these financial instruments that balance stability with DeFi yield potential, reflecting a broader shift towards digital currencies in various sectors.

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