Banks Will Dominate Stablecoins, and 2 Other Predictions About the Future of Money
Increasingly, in these jurisdictions it looks like the players set to capitalize most in this arena are regulated financial institutions – i.e., banks. Rather than “blowing up the traditional financial system” crypto is making the traditional financial system significantly more efficient.
That's the plan.
Also,
Retail CBDCs are viewed cautiously in the US and Europe, while wholesale CBDCs continue to grow.
Before the USA had the Fed, and before even the US Dollar, the individual states issued their own currencies, with many private bank currencies too.
Early American currency
History of United States Currency
Banks’ Own Private Currencies in 19th-Century America
So, banks have been here before!
What stablecoins really do, is make a currency global and not limited to any national jurisdiction. What this also means is that most national currencies may become pointless.
yep, Tether's influence will decrease, before it gets whacked.