How Stablecoins are Quietly Replacing Broken Banking Infrastructure
This analysis explores the quiet but significant shift toward stablecoins as a replacement for traditional banking infrastructure, particularly in cross-border payments and corporate treasury operations. BeInCrypto interviews Norman Wooding, CEO of SCRYPT, a Swiss-licensed digital asset platform serving as TON's institutional stablecoin gateway. Wooding notes that stablecoins now represent 80% of SCRYPT's processed volume, with 2023 marking the tipping point for institutional adoption. He contrasts the efficiency of moving $100 million in five seconds on-chain with the fragmented, costly legacy correspondent banking system. The article highlights regulatory fragmentation, praising Switzerland's FINMA while criticizing the UK's slow execution of its crypto hub ambitions. Wooding predicts that within three years, most financial activity will be on-chain and managed by AI, potentially creating deflationary economic pressures that challenge traditional crypto inflation-hedge narratives.
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