Stablecoins Archives - MPH International

Assorted physical cryptocurrency coins including Bitcoin, Ethereum, Litecoin, and others displayed on top of scattered US $100 bills.

The Economics of Using Stablecoins

Case Study: Sending Money from USA to the Philippines Introduction Sending money internationally, such as from the US to the Philippines, often involves high costs and slow processing times. Stablecoins, specifically USDC-SPL—Circle’s USD Coin issued on the Solana blockchain, leveraging Solana’s high-speed, low-cost infrastructure for near-instant transfers with minimal fees—offer a faster, more cost-effective alternative. […]

Mike Hogan

August 4, 2025

Two people shaking hands while exchanging cash over a signed contract on a desk.

Can Government Lending and Money Market Funds Offset the Bank Liquidity Drain from GENIUS Act Stablecoins?

Cash is fungible, it flows where opportunity lies. When the government injects money into the economy, it often ends up in private hands, hitting commercial bank deposits and kicking off the fractional reserve lending cycle. This sounds like a win for growth, but there’s a catch. While banks lend with profit in mind under strict […]

Mike Hogan

July 18, 2025

Clerk counting cash money at bank office.

Stablecoins: Will Banks’ New Goldmine Gut Their Lending Power?

Picture this: digital dollars zipping across blockchains, powering instant global payments with a smartphone tap. That’s the stablecoin revolution, and banks are itching to cash in. With Tether pocketing $13 billion in profits in 2024 and forecasts of 10X growth from 2024 to 2028, giants like JPMorgan and Bank of America are diving in, chasing […]

Mike Hogan

July 15, 2025

A businessman analyzing financial growth with a magnifying glass over stacked coins on ascending wooden blocks, each marked with upward arrows, symbolizing increasing income or investment returns

How Circle Might Overtake Tether as the King of Stablecoins

In our previous post, “Stablecoins, the Eurodollar System, and U.S. Monetary Sovereignty,” we explored how foreign-issued stablecoins like Tether (USDT) act as tokenized Eurodollars, eroding U.S. control by minting dollar-denominated IOUs offshore. With the $250 billion stablecoin market projected to hit $3.7 trillion by 2030, Tether’s $143 billion market cap leads, but its El Salvador […]

Mike Hogan

July 15, 2025

A wooden balance scale with money on one side and small figures representing people on the other side.

Stablecoins, the Eurodollar System, and U.S. Monetary Sovereignty

The Eurodollar system, a sprawling network of U.S. dollar-denominated loans issued by foreign banks, accounts for approximately one-third of all dollars in circulation—roughly $12 trillion. As Milton Friedman aptly described, Eurodollars are “a bookkeeper’s pen,” mere bookkeeping entries representing dollar-denominated IOUs held in non-U.S. bank accounts. These offshore liabilities, created by foreign banks and central […]

Mike Hogan

July 9, 2025

A tether coin placed in the middle of a ripped one-dollar bill.

The Camel Curse: Why the Banks’ Stablecoin Venture Is Doomed—And Why Buying Circle Is Their Only Shot at Winning

In the cutthroat arena of technology and finance, joint ventures (JVs) promise to pool expertise for breakthroughs. But as the old saying goes, “A camel is a horse designed by committee.” This quip nails the chaos of partnerships where too many equals with overlapping strengths churn out mediocrity. The recent buzz about America’s biggest banks—JPMorgan […]

Mike Hogan

July 9, 2025

Gold coins scattered among wooden figures on a textured wooden table surface.

Stablecoins: The Ultimate Bank Run Accelerator That Could Tank the System

Picture a bank run so fast it’s over before you blink—billions in deposits vanishing into stablecoins in milliseconds. Not like Silicon Valley Bank or First Republic, where runs unfolded over hours or days. Stablecoins, under proposed laws like GENIUS and STABLE, could turbocharge this chaos, prioritizing stablecoin holders over regular depositors and creating a game […]

Mike Hogan

July 9, 2025

Golden coins with dollar signs and currency symbols overlaying a cityscape, symbolizing wealth and finance.

Stablecoins vs. the Economy: How to Dodge a $1 Trillion Financial Cliff

Remember my last post, Could Proposed Stablecoin Laws Cause Credit Collapse & Depression? I warned that the GENIUS and STABLE Acts could siphon $1 trillion from U.S. bank deposits by 2028, potentially slashing lending by up to 40% and spiking interest rates, risking a recession worse than 2008. With stablecoins projected to hit $3.7 trillion […]

Mike Hogan

June 18, 2025

Close-up of various coins balanced on a scale, illustrating weight comparison and value assessment.

Could Proposed Stablecoin Laws Cause Credit Collapse & Depression?

By 2028, the U.S. Treasury estimates that stablecoins—digital currencies pegged to the dollar—could hold $2 trillion worldwide. If we assume that half of this ($1 trillion) comes from U.S. bank deposits, with the rest coming from outside of the US, that would be $1 trillion drained from the $18 trillion in U.S. bank deposits. Proposed […]

Mike Hogan

June 11, 2025