Multicoin Capital Co-Founder: Stablecoins Will End the Banking Era
Multicoin Capital is one of the largest crypto venture capital funds in the US, having invested in Solana, Helium, and many other early-stage projects.
According to the fund's co-founder, the GENIUS Act marks the beginning of the end of the traditional banking system. Banks will no longer be able to pay clients meager interest rates when stablecoins offer 10x higher returns and are fully liquid.
Now banks will have to compete with the new financial reality—decentralized assets with instant transfers and built-in returns.
Furthermore, in the coming years, companies like Meta, Google, and Apple will be able to issue their own stablecoins, integrated directly into their ecosystems.
This means payments without intermediaries, 24/7 transfers, and no banking fees.
Essentially, a new era is dawning: one in which money becomes part of the internet, not banks.