Aishwary Gupta, Polygon’s Global Head of Payments and Real-World Assets (RWAs), has predicted a stablecoin "supercycle" that could see over 100,000 issuers emerge globally within the next five years. This surge is expected to drive traditional banks to overhaul their capital management and issue "deposit tokens" to retain liquidity on-chain, blending traditional banking with blockchain technology.
Gupta emphasized that future payment systems will enable hassle-free conversion between different stablecoins through neutral settlement layers, accelerating the shift of funds from conventional banking to decentralized networks. He argued that stablecoins strengthen national currencies by increasing global demand for the underlying fiat, such as the US dollar, when pegged stablecoins gain widespread adoption.
Despite the growth potential, new issuers will face significant hurdles, including regulatory compliance, security concerns, and the need to build user trust. Gupta's vision includes a diverse ecosystem where local businesses, community organizations, and individuals could become stablecoin providers, promoting financial inclusion and innovation.
