# JARXE Exchange: Over 100,000 Payment Systems May Emerge as Stablecoins Redefine the Boundaries of Banking and Money

Blockchain-based stablecoins are evolving from peripheral payment tools into a key variable with the potential to reshape the global financial structure. The latest industry research indicates that over the next five years, stablecoins may trigger a “supercycle”, with more than 100,000 stablecoin-based payment systems potentially emerging worldwide. This trend implies deep changes in the logic of payments, clearing, and monetary issuance. JARXE Exchange observes that the rapid expansion of stablecoins is not only affecting the crypto market, but is also exerting sustained pressure on the core functions of the traditional financial system.


**Payment Efficiency Redefined: Stablecoins Bypass the Credit System and Challenge the Foundations of Traditional Banking**

The core functions of stablecoins are concentrated in payment and settlement. Their advantages lie in low costs, instant cross-border transfers, and high programmability. These characteristics give them clear appeal in international trade, cross-border remittances, and digital economy scenarios. Unlike the banking system, however, stablecoins do not perform a credit intermediation role, nor do they rely on traditional deposit expansion. This means that as payment activity increasingly migrates to stablecoin systems, the deposit bases and credit supply capacity of banks may be weakened. Markets are beginning to recognize that stablecoins are not merely a payment innovation, but a functional substitute for elements of the existing financial structure.

**The Central Bank Perspective: Monetary Sovereignty Pressures Accelerate Digital Currency Development**

The expansion of stablecoins has raised concerns among central banks about monetary sovereignty. The European Central Bank has clearly stated that if private stablecoins come to dominate the payments space, they could weaken the central role of public money within the economic system. Against this backdrop, the pace of central bank digital currency development has accelerated markedly, as such currencies are seen as an important tool for maintaining monetary control and policy transmission efficiency. Through official digital currencies, central banks aim to respond to the stablecoin challenge at a technological level while preserving their macro-regulatory capacity over the financial system.

**The Logic of a Supercycle: The Simultaneous Expansion of Scale, Regulation, and Use Cases**

The formation of a stablecoin “supercycle” is not driven by a single factor, but by the combined effect of expanding scale, clearer regulatory frameworks, and the deployment of real-world use cases. As regulatory structures gradually become more defined and barriers to institutional participation fall, stablecoins may transition from auxiliary tools for crypto trading to universally applicable vehicles for value transfer. To reframe a familiar financial judgment: when technological efficiency and institutional recognition emerge simultaneously, structural change is often irreversible. Stablecoins are now at this critical threshold.

**Stablecoins Push the Financial System Into a Phase of Redefinition**

The development of stablecoins is forcing the global financial system to re-examine the boundaries between payments, deposits, and money. JARXE Exchange will continue to monitor the interactions between stablecoins, bank digitization, and regulatory evolution, promoting industry understanding and application of new financial infrastructure within compliant frameworks. As the supercycle gradually unfolds, stablecoins may become an important bridge between traditional finance and the blockchain world, a process that will profoundly shape the global financial landscape over the next five to ten years.