Opinion by: Megan Knab, CEO, Franklin Payroll
There are some historical examples of such a huge face for an industry, from banks that remove crypto businesses to this day to embrace stablecoins. If you talk to most Crypto Startup founders or crypto companies on the balance sheet, they will all have war stories about searching, applying and maintaining bank accounts.
Over the past three years, more than half of Dedeban complaints have been passed against four American banks – Bank of America, JPMorgan, Wells Fargo and Citibank. Today, as policies discrimination against the crypto industry, such as “Operation Chokepoint 2.0”And the RECISION OF CONTROVERSIAL ACCOUNTING RULE SAB 121was dismissed -a new openness to blockchain technology from the financial sector is possible.
It is necessary that the banking industry stop shunning crypto and start – at least understand it – to stay competitive. How to deploy Stablecoins will separate the banking winners and defeat.
From Deban to Stablecoins
Of course, stablecoins are not a new concept. For years, large institutions such as JPMorgan and Santander have been experimenting with stablecoins and blockchain. Those experiments are around the small functioning such as the internal reconciliation of the Treasury and the interpretation of the interbank. Most of these are also in private blockchains created by banks. The implementation of digital dollars on private chains, however, is lost to the major change of stablecoins.
While the use of the case of stablecoins for international remittances is clear, we are just shaving over the power of stablecoins on public networks. For example, Stablecoins removes unauthorized payment misunderstandings and enable faster salary cycles.
Payroll payments are also complicated. Payday is a web of thousands of automatic clearing houses, wires, separate comma amounts and PDFs. The programmability of Stablecoins provides companies that create efficiency in all these data structures, processing times, reconciliation and salary reporting.
Many smaller banks are now waking up to the opportunity to include without permission, public network stablecoins in their workflows. Similar to how many businesses began investigating how AI could change their businesses in 2022 chatgpt release, as well as banks need to look at how stablecoins will reduce money movements.
Recently, the Custodia Bank has released its own stablecoin, avit, at Ethereum. Custodia users can access fast, cheap banking services that are difficult to defeat. This is a great example of implementation for other financial institutions to follow.
Stablecoin adoption rises as tech continues to improve
Active Stablecoin Wallets increased from 19.6 million in February 2024 to 30 million In February 2025, according to Artemis and Dune. US president Donald Trump expects to have Stablecoin law on his desk in August 2025. Wyoming This was done in late March 2025.
Recently: MasterCard links with circle, paxos for merchant stablecoin payments
Stablecoin infrastructure has improved significantly, and has increased security of the security of stablecoins. 91% of the stablecoins supply were fiat-back, and only 8.5% were backed by collateralized crypto assets. Riskier algorithmic stablecoins are lost in Vogue.
Change changes make it easier for non -crypto businesses to use stablecoins. There are now simple solutions for many of the original UX problems in Stablecoins.
In addition, many possessions move onchain. With stablecoins on public networks such as Ethereum, payment companies are better prepared to deliver future financial system. These are not just stablecoins that update the financial system, either. Earlier this year, Blackrock CEO said Larry Fink Squawk box He wants the SEC to “quickly approve the tokenization of bonds and stocks.”
For banks looking for a competitive advantage to a world of powerful fintechs, transferring interest rates and lower consumer savings, using the power of stablecoins to improve their products and their internal operation may be the strongest decision they have ever made.
Opinion by: Megan Knab, CEO, Franklin Payroll.
This article is for general information purposes and is not intended to be and should not be done as legal or investment advice. The views, attitudes, and opinions expressed here are unique and do not necessarily reflect or represent the views and opinions of the cointelegraph.
