Every Bank Will Launch a Stablecoin

The proliferation of institution-specific stablecoins, such as Fidelity’s FIDD, threatens to fragment the global financial landscape, necessitating robust abstraction layers like Mesh to manage liquidity and user experience. As major financial entities and asset managers increasingly adopt tokenized real-world assets, the industry faces a critical tension between treasury-driven stablecoin issuance and the need for interoperable, efficient payment rails. Tether’s dominance in the global south, coupled with its aggressive gold accumulation, highlights a shift toward internet-native, non-sovereign financial infrastructure that bypasses traditional banking limitations. While banks like UBS begin offering crypto trading to high-net-worth clients, the long-term viability of this on-chain economy depends on avoiding unnecessary infrastructure duplication and establishing a unified, compliant network that supports global, 24/7 settlement without sacrificing the accessibility required for mainstream adoption.