Christian Thompson, Managing Director of the Sui Foundation, stated that bipartisan U.S. stablecoin legislation will be a powerful mechanism for driving capital formation and retail onboarding into Web3 ecosystems.
Speaking with Benzinga on the sidelines of Sui basecamp in Dubai, Thompson, a former Meta Deputy Chief Information Security Officer and Libra/Diem project contributor, emphasized stablecoins' role in enabling fast, inexpensive, and reliable cross-border transactions.
"It's a powerful method to bring people into Web3 and all the benefits that it has," Thompson said, highlighting stablecoins' ability to break down barriers between brokers and makers across countries, particularly in developing nations.
"Anytime you're sending money between two people from one place to another, it's super fast, super reliable, [and] very inexpensive to do," he noted.
This efficiency, he argued, makes stablecoins a critical tool for global commerce and financial inclusion.
Thompson's comments come as the U.S. Senate prepares to vote on the GENIUS Act by May 26, which restricts stablecoin issuance to permitted issuers and requires 1:1 reserve backing with short-term Treasury securities.
The House is advancing the companion STABLE Act, with both bills gaining bipartisan support to establish a federal regulatory framework for stablecoins.
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Drawing on his experience at Meta, Thompson sought to highlight the Sui Foundation's focus on security and scalability.
"Security is embedded in everything that we've built," he said, noting that three of the foundation's five co-founders have security backgrounds, ensuring robust protections for Web3 applications.
He also highlighted Sui's technological advancements, such as the Walrus decentralized storage solution and the upcoming Seal primitive for access control, as key to supporting institutional and retail adoption.
Thompson predicted a "watershed moment" for real-world asset (RWA) tokenization, driven by regulatory clarity.
He cited stablecoins' potential to enhance transparency in sectors like real estate, where tokenized titles could reduce ambiguity.
"You get whole new asset classes that become available through RWA," he said, emphasizing the need for public understanding to accelerate adoption.
Addressing broader Web3 trends, Thompson expressed confidence in Sui's ability to deliver real value to businesses and users.
He noted the foundation's work on zero-knowledge (ZK) login, which allows users to access Web3 services using Google or Apple IDs without sharing personal data, streamlining user experience.
"ZK Login is the solution ultimately," he said, as it mirrors familiar Web2 authentication methods, fostering mainstream adoption.
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