Banks face $230bn payments revenue threat as Tokenised money goes mainstream

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

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 .

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 […]