The war of stablecoins has officially begun! Banks have realized that their most profitable business might be stolen on the blockchain

What was the most comfortable business for banks before?
Deposits.
Now the most awkward thing has arrived:
Stablecoins are starting to compete for the bank's "cash pool."
In the past, US dollar transfers were slow and expensive.
Now stablecoins arrive in seconds, with transaction fees so low that banks want to call the police.
This is also why traditional finance has recently been desperately researching on-chain payments.
They’re not suddenly trusting Web3, but realizing:
If they don’t get involved, their profit pools might really be emptied.
The truly terrifying thing about stablecoins is that they are not as "rebellious" as Bitcoin.
They are more like an upgraded version of the US dollar system.
And the recent frequent push for stablecoin regulation in the US is actually doing one thing:
Extending US dollar dominance onto the blockchain.
The most likely scenario in the future is not Crypto replacing the dollar,
but the dollar re-establishing control over Crypto through stablecoins.
That’s also why companies like CRCL are suddenly being wildly pursued.
Because the market is beginning to realize:
Stablecoins might not just be tools in the crypto world, but the next-generation financial infrastructure.
And the most awkward thing for banks now is—
They’ve just realized that their biggest competitor might not be other banks, but a string of code.
The financial world is witnessing an absurd scene:
Banks used to think Crypto was a scam,
Now they realize they might be the "dinosaurs."
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