Circle CEO just dropped a spicy take: banks are officially dethroned from payments.
"The innovators are having their day."
Stablecoins are eating TradFi's lunch. Banks had decades to fix cross-border rails and they gave us SWIFT fees + 3-day settlement.
Now $USDC and stables move billions 24/7 for pennies. The payment rails are being rebuilt without asking permission.
TradFi can either adapt or watch from the sidelines.
"The innovators are having their day."
Stablecoins are eating TradFi's lunch. Banks had decades to fix cross-border rails and they gave us SWIFT fees + 3-day settlement.
Now $USDC and stables move billions 24/7 for pennies. The payment rails are being rebuilt without asking permission.
TradFi can either adapt or watch from the sidelines.