Banks face $230bn payments revenue threat as Tokenised money goes mainstream
What's happening
SoFi Bank has moved its entire debit and credit card programme onto Mastercard's stablecoin settlement rails, running live settlement with SoFiUSD and expected to process more than $25bn in annualised volume. The rollout represents a bank-issued stablecoin being used in production across Mastercard's network. Industry commentary and a Capgemini estimate say stablecoins, tokenised deposits and central bank digital currencies are moving from experimentation into commercial use and could threaten up to $230bn in banks' payments revenue.
Why it's trending
Multiple firms (SoFi and Mastercard) put bank-issued stablecoin settlement into live production while industry analysis quantifies a large revenue risk, so tokenised money jumped from pilot to commercial impact this week.
SignalHolding at its usual pace, confirmed across 1 independent source type.
Momentum
Score per dayStory volume
Stories per dayAngles you could write
If banks think tokenisation is a niche experiment, SoFi just put $25bn of card volume on-chain to prove them wrong, and Capgemini warns $230bn of payments revenue is at stake next.
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Original sources7
- Stablecoins Changed the Rails but Haven’t Captured the Economics
Stablecoins spent years trying to prove they could move money better than banks, and they have succeeded. Announcements this week from banks, card networks, cryptocurrency exchanges and central banks show why that capability reveals more about stablecoins than it does about the banks themselves. In the span of several days, SoFi Technologies began using its […] The post Stablecoins Changed t
PYMNTSSep 24 - Banks face $230bn payments revenue threat as Tokenised money goes mainstream
Banks could lose as much as $230bn in payments revenue as stablecoins, tokenised deposits and central bank digital currencies move from experimentation into commercial use, according to Capgemini’s latest World... read more The post Banks face $230bn payments revenue threat as Tokenised money goes mainstream appeared first on Payments Industry Intelligence .
Payments Industry IntelligenceSep 24 - SoFi and Mastercard’s biggest play yet on stablecoin settlement
SoFi has entrusted that the future of merchant settlement in the US will be on stablecoin payment rails by joining forces with Mastercard to move its entire debit and credit card programmes on the global card networks’s stablecoin-supported rails. SoFi has moved its entire $25bn card program to Mastercard’s stablecoin settlement rails in a bid […]
Payment ExpertSep 24
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