The New Settlement Frontier: Bank-Led Stablecoins and the Reordering of Global Capital Flows
Paymentsjournal
Bank-issued stablecoins are reshaping global payments through enhanced compliance, jurisdictional frameworks, and infrastructure like PhotonPay, offering bank-grade security and regulatory alignment.Summary
The article discusses the emergence of bank-led stablecoins as a new paradigm in global payments, driven by regulatory frameworks like the U.S. GENIUS Act and Europe’s MiCA. Banks such as HSBC, Standard Chartered, and Woori Bank are issuing stablecoins with embedded compliance features, including 1:1 redemption, AML/KYC protocols, and statutory priority in insolvency. Jurisdictional fragmentation remains a challenge, requiring infrastructure solutions like PhotonPay to harmonize multi-regulatory standards. These bank-issued assets combine liquidity with bank-grade risk controls, positioning infrastructure as the key enabler for global capital flows in the evolving stablecoin ecosystem.
(Source：Paymentsjournal)