The Rollup Why Every Major App Will Issue Their Own Stablecoin with Luca Prosperi from M0
Oct 27, 2025
Luca Prosperi, founder of M0 and a leader in DeFi credit and governance, dives into the exciting world of stablecoins. He reveals why every major app will likely issue its own stablecoin, discussing MetaMask’s innovative dollar design without relying on banks. Luca highlights the challenges of stablecoin fragmentation and the hidden differences in bank dollars. As stablecoins are projected to soar from $300B to trillions, he explores their impact on liquidity, lending, and the future of financial services, emphasizing the importance of developer-friendly approaches.
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Dollar Fungibility Is An Illusion
- Every bank's dollar has a different risk profile even if users treat them as the same currency.
- Interoperability and liquidity hide those differences and create the illusion of a single fungible dollar.
Split Issuance From App Integration
- M0 separates the upstream (issuance, custody, regulation) from the downstream (apps, UX, programmability).
- This creates a shared on-chain token and single liquidity network to avoid repeated fragmentation.
Let Apps Own The UX, Not Issuance
- Integrators (apps) should focus on embedding a programmable token and leave issuance to compliant partners.
- Use M0-style libraries to onboard tokens with only code and avoid building banking integrations.