Payments & Liquidity

SIX - Financial Services Practice Beyond stablecoins: The emerging architecture (May 2026)

Stablecoins attract attention, but the paper argues the bigger shift is a three-layer on-chain money stack of stablecoins, tokenized bank deposits, and central bank money. It highlights that tokenized deposits already support more than $4 trillion in annual institutional transfers, far exceeding stablecoin payment volumes.

Topics: payments, stablecoins, tokenization, crypto, regulation

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