“Wilfred Daye, CSO of Mercurity Fintech Holdings, shares his views on Coinspaid.”

What Comes After Stablecoins: The Rise of Tokenized Cash

Stablecoins brought dollars onto blockchains - unlocking 24/7 payments, DeFi access, and faster settlement without banks. But tougher regulations and institutional demands are exposing their limits. The market is now shifting toward something more robust: tokenized cash.

Issued by banks, fintechs, and government institutions, these fiat-backed assets are fully compliant and settle in real time on blockchain rails. In this article, I'll break down why the shift is happening, what infrastructure it needs, and what its implications are for Defi, TradFi, and global finance.

Stablecoins are Showing Limits

Stablecoins solved an early challenge: volatility. Pegged to the dollar, they created liquid, reliable rails for 24/7 payments, DeFi lending, and cross-border payments. They became the backbone of crypto trading. From 2019 to now, the market has grown from $6 billion to over $100 billion. Tether alone accounts for more than half of that, thanks to its dominant liquidity across global exchanges.

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