With the US Treasury stating they’ ll use stablecoins to maintain dollar dominance, how does this geopolitical shift alter correspondent banking’ s future?
Retno Widuri, Head of Crypto, at Unlimit Stablecoins have rewired the geopolitics of money – if issuers start buying more and more US debt while powering dollar dominance via USD denominated stablecoins on digital rails, the old correspondent banking model will eventually become hollowed out. Transactions won’ t need long chains of intermediaries anymore if they are happening almost instantly peer to peer on blockchains.
Clearly, banks will need to evolve. It’ s not going to be enough for them to just be intermediaries anymore. Instead of controlling cross-border flows through their own networks, banks will need to become owners of stablecoin infrastructure and orchestrators and custodians of digital assets. The future of finance will be on-chain, programmable, and, most likely, dollar-backed.
66 November 2025