Here's a take I've been sitting on for a while: everyone's obsessed with stablecoins earning yield, but that's missing the point entirely. Stablecoins are supposed to *move* – they're the grease in the machine, not the machine itself. If you want yield, tokenized money market funds (TMMFs) are right there, and guess what? Banks already lost that fight. That ship sailed years ago.
My angle has always been simpler: stablecoins don't *need* yield because they'll just live side-by-side with TMMFs in your wallet. Smart contracts handle the boring part – shuffling money back and forth as needed. You want to send? Flip to stablecoin. You want to earn? Park it in a TMMF. Done.
Now throw AI agents into the mix – I wasn't even thinking about them before – but imagine bots constantly hunting for the best returns across TMMFs, vaults, whatever fits your risk profile. Then the second you need to move money, boom, they swap into stablecoins. It's like having a hyper-efficient treasurer working 24/7.
Meanwhile, banks are doing victory laps thinking they "won" the stablecoin war. They're celebrating the wrong battle. The real threat to deposits was never stablecoins – it's the yield-bearing instruments sitting quietly in the background, and nobody's even looking at them.
My angle has always been simpler: stablecoins don't *need* yield because they'll just live side-by-side with TMMFs in your wallet. Smart contracts handle the boring part – shuffling money back and forth as needed. You want to send? Flip to stablecoin. You want to earn? Park it in a TMMF. Done.
Now throw AI agents into the mix – I wasn't even thinking about them before – but imagine bots constantly hunting for the best returns across TMMFs, vaults, whatever fits your risk profile. Then the second you need to move money, boom, they swap into stablecoins. It's like having a hyper-efficient treasurer working 24/7.
Meanwhile, banks are doing victory laps thinking they "won" the stablecoin war. They're celebrating the wrong battle. The real threat to deposits was never stablecoins – it's the yield-bearing instruments sitting quietly in the background, and nobody's even looking at them.