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BTC $68,331.00 +2.11%
ETH $2,010.11 +1.66%
BNB $636.30 +1.99%
XRP $1.42 -4.56%
SOL $81.67 -4.53%
TRX $0.2795 -0.47%
DOGE $0.0974 -3.83%
ADA $0.2735 -4.22%
BCH $443.71 -1.32%
LINK $8.64 -2.97%
HYPE $28.98 -1.81%
AAVE $122.61 -3.42%
SUI $0.9138 -6.63%
XLM $0.1605 -4.62%
ZEC $260.31 -8.86%

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Polygon executives: Stablecoins will enter the "era of hundreds of thousands of issuers," and banks will be forced to restructure their capital models

Polygon's global head of payments and RWA, Aishwary Gupta, believes that global stablecoins are entering a "super cycle," 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, proving that stablecoins can become tools of national economic sovereignty rather than undermining central bank power. He stated that stablecoins, like fiat currencies, are influenced by monetary policy and will essentially enhance the global demand for a country's currency, similar to how stablecoins drive the usage of the dollar.Gupta also warned that stablecoin yields are attracting low-interest deposits (CASA) from the banking system to on-chain, weakening banks' ability to create credit and maintain low-cost capital. To respond to this competition, he expects banks to issue "deposit tokens" on a large scale to keep funds on their balance sheets while allowing customers to use their assets on-chain.He believes that as the number of stablecoins rapidly expands, future payment systems will rely on a unified settlement layer, allowing users to pay with any token while merchants receive payments in another token, with the underlying conversion happening seamlessly in the background.

first_img Thousands of Nigerian investors have been severely impacted by the CBEX Ponzi cryptocurrency scam, with the amount involved potentially reaching tens of millions of dollars

ChainCatcher news, according to CryptoSlate, the Nigerian digital asset trading platform CBEX has been exposed as a Ponzi scheme, causing significant financial losses for many investors. Although local media initially reported losses as high as 1.3 trillion naira (approximately 800 million USD), analysis indicates that the address is actually a Binance hot wallet, and the real loss amount may be closer to 12 million USD.CBEX claims to be the "China Beijing Equity Exchange," but it has no connection to the officially named institution in China. The platform, under the guise of AI quantitative strategies, promises to double returns in 30 days, attracting a large number of investors and requiring them to recruit others for commissions, essentially operating as a typical Ponzi structure. The project was even promoted in Nigerian national media as a "poverty alleviation program," further misleading users.By April 2025, CBEX suddenly froze accounts, preventing users from withdrawing funds, which sparked public outrage. Some investors besieged its offices in Ibadan and Lagos, and many victims shared their loss experiences on social media.Independent analyst Specter pointed out that CBEX is linked to other similar scams, LWEX and PCEX, suspected of sharing website architecture and funding flow patterns. The related wallets are also connected to the Southeast Asian payment system Huione Pay, which has been listed by Elliptic as one of the main hubs for money laundering and telecom fraud, involving over 24 billion USD in suspicious transactions.
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