Every transformation in finance begins with a new user interface.
- In the Card Era, the credit card became the new interface for cash. - In the Digital Era, digital wallets became the new interface for e-commerce. - In the Web3 Era, stablecoins are becoming the new interface for bank.
The Senate's passage of the Genius Act clears the way for tradfi to issue stablecoins, opening the door for more tradfi institutions to enter the stablecoin space.
But over time, this won’t just legitimize stablecoins, it will trigger deposit flight. If users can store, spend, and earn on-chain with instant settlement and yield, why leave money in a bank?
Just like PayPal pulled volume from card networks, stablecoins will siphon deposits from banks, pushing crypto closer to a narrow banking future.
The Senate's passage of the Genius Act clears the way for tradfi to issue stablecoins, opening the door for more tradfi institutions to enter the stablecoin space.
But over time, this won’t just legitimize stablecoins, it will trigger deposit flight.
If users can store, spend, and earn on-chain with instant settlement and yield, why leave money in a bank?
Just like PayPal pulled volume from card networks, stablecoins will siphon deposits from banks, pushing crypto closer to a narrow banking future.