Recent post by the Team @ McKinsey & Co. on stablecoins.
Beyond stablecoins: The emerging architecture of on-chain money
Key summary:
- McKinsey expects that the future of on-chain money will be not as a monolith, but as a layered system in which different forms of value coexist to harmonize global money flow
- Stablecoins as "money in motion": optimized for rapid, lower-value, cross-border transactions and automated disbursements-particularly where traditional banking access is limited
- Tokenized bank deposits as "money at rest": supporting treasury balances, institutional payments, and interbank settlement at scale
- Tokenized central bank digital currencies as "settlement money": the ultimate global settlement asset that eliminates counterparty risk between disparate systems, enabling irrevocable finality across borders
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Todor Kostov
Director
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