In this episode of Non-Consensus Investing, host Ram Ahluwalia sits down with Austin Campbell, a professor at NYU Stern, former JP Morgan executive, and stablecoin expert. They delve into the intricacies of stablecoins, discussing recent legislative developments, their potential impact on the US financial markets, and the landscape of winners and losers among banks and payment processors. The conversation also explores the implications for global trade, particularly vis-a-vis China, and the broad human rights advancements linked to the adoption of stablecoins. In addition, they touch on AI's role in the financial sector and the potential for the US to maintain its economic edge through stablecoin adoption. The episode wraps up with reflections on the demographic challenges facing China and the future of financial asset management.