It Begins, US Banks Launched A Stablecoin
I wrote here without any doubt that the future that is possible is that given the right regulatory environment, every organisation that can, will offer their version of Stablecoins.
It is not difficult to foresee this outcome. The infrastructure of Stablecoin works is scalable and accessible to a wider audience. Therefore introducing new dynamics to all payment business models. And has it us often said, “every technology company eventually becomes a fintech company”. The reason why that is the case is that every company facilitates payment. Especially those in the B2C market.
In not so surprising news, “US Banks Form Group to Offer USDF Stablecoin“.
Yes, banks have seen it. They also know that the SWIFT system that they formed together many years ago is no longer as efficient for the coming disruption. They know that to grow the Fees and Commission line of the Profit/Loss statement they need to rethink payment.
As I also noted in the quoted piece, consumers don’t need to worry. The worry is for the innovators, entrepreneurs and business leaders. Because for the consumer, they will always win whenever the arrow of technological progress flies in a forward direction.
My mama can rejoice more because a time is coming when sending those dollars home wouldn’t be a stress for me again. And when she needs to pay those dollar school fees she wouldn’t need to worry about where the dollars will come from. A wallet will be available to anyone who wants it. Just as anyone who can, will offer a stablecoin.