The Rollup The Stablecoin Supercycle Is Here and Banks Are About To Join with Tony McLaughlin
Oct 25, 2025
Tony McLaughlin, CEO of Ubyx and former SWIFT executive, dives deep into the world of stablecoins, asserting they should be treated like checks by banks. He explains how public blockchains can solve adoption issues for financial institutions. The conversation highlights the importance of multi-chain wallets for banks and the significance of understanding stablecoins as negotiable instruments. McLaughlin also discusses the future where stablecoin wallets become standard in banks and predicts a Cambrian explosion of stablecoins enhancing global commerce.
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From Citibank To Public Chains
- Tony moved from 30 years in traditional payments at Citibank to focus on public chains after the U.S. election shifted regulatory stance.
- He left private permissioned chain work to build regulated stablecoin infrastructure on public chains.
Banks Need Multi-Chain Wallets
- Every bank and fintech will need a multi-chain wallet as the baseline distribution layer for tokens and stablecoins.
- Tony McLaughlin argues wallets are the new form factor that will bridge TradFi and Web3 when banks offer them.
Stablecoins As Negotiable Instruments
- A stablecoin is best understood as a negotiable instrument, not merely a crypto asset pegged to fiat.
- This framing links centuries of payment law and clearing practice to modern token models.