[Polygon Executive: Stablecoins Will Enter the 'Era of 100,000 Issuers,' Forcing Banks to Restructure Capital Models] Odaily Planet Daily News – Aishwary Gupta, Global Head of Payments and RWA at Polygon, believes that global stablecoins are entering a 'supercycle,' with the number of stablecoin issuers potentially exceeding 100,000 in the next five years. Gupta pointed out that Japan is participating in government bond and policy stimulus pilots through stablecoins like JPYC, demonstrating that stablecoins can serve as tools for national economic sovereignty rather than undermining central bank authority. He stated that stablecoins, like fiat currencies, are influenced by monetary policy and essentially enhance global demand for a country's currency, similar to how stablecoins have driven the use of the U.S. dollar. Gupta also warned that stablecoin yields are attracting low-interest deposits (CASA) from the banking system to on-chain platforms, weakening banks' ability to create credit and maintain low-cost capital. To address this competition, he predicts that banks will issue 'deposit tokens' on a large scale to retain funds on their balance sheets while allowing customers to use assets on-chain. He believes that as the number of stablecoins rapidly expands, future payment systems will rely on a unified settlement layer, enabling users to pay with any token and merchants to receive payments in another token, with seamless conversions happening in the background. (The Fintech Times)