According to ChainCatcher, experts anticipate that blockchain stablecoins will initiate a 'super cycle' within five years, potentially leading to the emergence of over 100,000 such payment systems globally. This development could necessitate a fundamental restructuring of the financial system.
Stablecoins pose a threat to the traditional banking deposit base and credit supply capabilities, as they facilitate payments without extending credit. The European Central Bank is concerned about losing monetary sovereignty and is accelerating the introduction of digital currency. In response, commercial banks are converting traditional deposits into 'deposit tokens.' Lloyds Bank CEO Charlie Nunn suggests that combining these with AI could redesign financial services.
JPMorgan processes approximately $5 billion in tokenized payments daily, a small fraction compared to the $15 trillion in mainstream payments. However, tokenized bank deposits offer advantages such as 24/7 transfers without correspondent banks, anti-money laundering protection, central bank endorsement, interest payment capabilities, and support for smart contract automation. These features may help maintain regulatory advantages and counter stablecoin competition.