Programmable privacy represents a breakthrough for stablecoins, unlocking their potential across critical infrastructure. When privacy layers are built into protocol design, it opens doors to institutional-grade applications most never considered possible. Think capital markets infrastructure, enterprise-to-enterprise payment flows, payment service providers managing settlement risk, and banks navigating regulatory requirements—all with enhanced confidentiality. This architectural shift transforms stablecoins from speculative assets into genuine rails for moving quadrillions in value. The market opportunity isn't just huge; it's foundational to how digital finance will actually operate at scale.