Financial Times: Stablecoins will usher in a "super cycle" that will reshape the banking industry within five years

According to the Financial Times, technology experts predict that blockchain stablecoins will trigger a "super cycle" within five years, with over 100,000 such payment systems potentially emerging globally, forcing a fundamental restructuring of the financial system.

Stablecoins threaten the traditional banking deposit base and credit supply capacity, as they only facilitate payments rather than credit. The European Central Bank is concerned about the loss of sovereignty and is accelerating the launch of digital currencies. Commercial banks are countering by transforming traditional deposits into "deposit tokens." Lloyds Bank CEO Charlie Nunn stated that financial services could be redesigned in conjunction with AI.

JPMorgan's daily tokenized payment volume is about $5 billion, which is still small compared to mainstream payments of $150 trillion. However, bank tokenized deposits have advantages: 24/7 transfers without correspondent banks, protection against money laundering, central bank endorsement, the ability to pay interest, and support for smart contract automation, which is expected to withstand competition from stablecoins while maintaining regulatory advantages.