WHOEVER OWNS STABLECOIN DEPOSITS OWNS THE FUTURE OF BANKING

Summary from the TLDR Crypto newsletter

Stablecoins are redefining banking by pulling deposits out of banks and onto blockchains, making money programmable, portable, and transparent. Traditional banks built scale through deposits and fintechs rented them from partner banks, but crypto neobanks like KAST, Tria, and Plasma now own onchain liquidity directly, earning and sharing yield on stablecoins instead of collecting fees. In emerging markets like LATAM, stablecoin adoption has exploded ($319B in Brazil alone), turning them into the default savings and payment rails. With over $300B in stablecoin supply and $15.6T settled in 2024, the platforms aggregating and managing digital-dollar liquidity are becoming the new global settlement layer.