Guillaume Poncin d’Alchemie predicts that the adoption of the Act on Engineering will soon bring major financial institutions in the Stablecoin sector.
The American Senate adopted the Act on Engineering, providing long -awaited regulatory clarity to stablecoins. With this development, large financial institutions should deploy their own stablecoins. Guillaume Poncin, alchemy cto, gave an interview to Crypto.News. Alchemy works with Visa, Coinbase, Stripe and Robinhood on the Stablecoin show.
Until now, large banks have retained themselves, pending clear regulations, a need for the new invoice. Poncin believes that in the future, each bank will send its own stablecoin and use its own blockchain.
Crypto.News: You recently suggested that banks would soon emit their stablecoins and perform their blockchains. What are the main advantages of this decision for them and their customers?
GP: For banks, the issuance of their own stablescoins allows them to capture the float on reserves, with the possibility of bringing hundreds of millions of annual revenues of the treasury yields to current rates. They also maintain control of their relationships with customers and their transaction flows rather than yielding this to third -party transmitters.
For customers, the stablecoins issued by banks offer instant settlement, 24/7 availability and programmable money which is supported by the trust and regulatory protections for traditional banking relations. The right web 3 infrastructure makes it possible for banks to launch these capacities without years of development of blockchain.
CN: If the banks are embarking on the Stablescoin sector, what does that mean for the main stable transmitters like Circle and Tether?
GP: Circle and Tether have imposed themselves as default rails for crypto-native use cases and international transfers. Banks can focus on different segments, such as corporate treasure, regulated institutional flows and integration with existing banking services. Having your own stablecoin provides additional asset control and the possibility of generating a return.
The market is massive and growing. There is room for specialized players. The next IPO of Circle in fact validates this thesis because it shows that traditional finance recognizes stablecoins as a legitimate infrastructure. We feed the infrastructure for existing transmitters and banks exploring this space, and we see a playground with a large room to offer new products and develop the market.
CN: Given the role of alchemy supplying the USDC (via the circle), what differences do you see in the way in which issuers like the decisions of the strike, compliance and infrastructure of transmitters?
GP: Circle has adopted a highly regulated transparent approach, with regular certificates, clear banking relations and working in close collaboration with regulators. This makes the USDC attractive for cases of institutional use and integration into traditional finance.
TETHER works more as a world liquidity provider in that he himinit the availability and ease of use on the markets.
From the infrastructure point of view, Circle tends to be more conservative with technical changes, while Tether is larger about multi-chain. Both have their compromises; Institutions can promote the USDC for compliance and transparency, while developers or platforms focused on emerging market could exploit the attachment for the scope.
CN: Blockchain infrastructure is difficult to manage and secure. Do you think banks will promote layer 1 or layer 2 networks? What does this mean for major layer ecosystems 2 like Ethereum?
GP: It depends on the use case. For large -scale operations such as B2B transactions, banks may prefer to operate directly on layer 1 for maximum safety and purpose. However, for applications at retail scale, layer 2 networks have the most meaning, because they offer under-central transaction costs, customizable security parameters and the possibility of entering transactions from the sequencer costs. For example, Coinbase already generates more than $ 200 million a year from the basis, their L2.
It is actually optimistic for Ethereum. The L2 are still content with Ethereum, they therefore benefit from its safety. We see a specialized L2 Cambrian explosion. Some are optimized for payments, others for trading or identity. Banks can choose or build an L2 that meets their specific compliance and performance requirements while inheriting the security of the Battle of Ethereum. This is where the stacks of modular rolls are useful. With solutions such as Rollups-AS-AA-SERVICE D’alchemy, institutions can launch tailor-made L2 which inherit Ethereum security while offering total control over execution, costs, data availability, etc.
CN: Banks require constant communication to facilitate transactions between their respective customers. How do you envisage interoperability between their blockchains in this context?
GP: Interoperability is the most important challenge, but it is solved. We already see solutions emerging with transversal messaging protocols, shared sequencer networks and atomic exchange mechanisms. The key is that, unlike the traditional bank of correspondents, the interoperability of the blockchain can be without confidence and instantaneous.
I imagine a model where large bank channels connect through established protocols, similar to the way in which international cable transfers work today, but without the settlement times of several days. Over time, we will see more sophisticated solutions, perhaps shared rolling infrastructures where banks can maintain sovereignty while allowing interoperability.
CN: What is the role of alchemy in the facilitation of this financial institution to exploit blockchain technology?
GP: We are the infrastructure layer that makes blockchain accessible to institutions without obliging them to become blockchain experts. Consider us as AWS for web3. We process nodes, portfolio and roller infrastructure, data indexing and reliability challenges so that banks can focus on the construction of products.
More specifically, we provide the APIs and developer tools that feed everything, from simple balance requests to complex DEFI integrations. We work with large banks and fintechs that use our infrastructure for everything, on -call solutions to launch their own chains.
After the repeal of SAB 121, we saw an immediate increase in requests for information from the largest banks in the world. They no longer ask “if”, they ask “how much can we move?” Our role is to make this transition as transparent as possible.
