The super cycle of stablecoins is like a "financial tectonic movement," silently accumulating power, but once it starts, the entire crypto world will be uplifted.

When large banks and tech companies rush to issue stablecoins, the number of issuers expands from dozens to hundreds of thousands, essentially dispersing the funds originally concentrated in bank ledgers into countless "micro-pipelines" on the blockchain. Capital will continuously overflow along these micro-pipelines, forcing the closed liquidity of the banking system to open up, and naturally turning the blockchain into a new main thoroughfare for traffic.

Banks issuing their own deposit tokens is more like a desperate self-rescue. Traditional deposit competition relied on interest rates, but now it depends on "on-chain convenience": faster fund settlements, stronger liquidity, and lower cross-border friction. The battle for deposits will shift from offline branches to on-chain assets; whoever provides a smoother on-chain experience will be able to capture more liquidity.

Payments entering the "grid" era is the most intuitive outcome of the entire super cycle. You pay with currency A, I receive currency B, and the exchange in between is automatically completed by the on-chain clearing and settlement system in a few hundred milliseconds, feeling as seamless as air. Payments have shifted from a "single track" to a multi-track woven grid, where each track can absorb funds and distribute liquidity. The more grid-like the structure, the stronger the liquidity.

When this grid is woven tightly enough, stablecoins will become the underlying fuel for the global digital economy, becoming as ubiquitous as electricity and as transparent as bandwidth. What deserves more attention next is which chains, which applications, and which financial products will become the new traffic centers within this grid. $BTC $USDT #香港稳定币新规 #特朗普加密新政