Stablecoin Sandwich – The New Finance System 

Key Takeaways

• Stablecoins are increasingly sitting between banks, consumers and tokenised assets, not just facilitating crypto trading.
• Samsung, Standard Chartered, the NYSE and the DTCC are all building stablecoin or tokenisation infrastructure into mainstream platforms in 2026.
• Ripple’s new US trust bank charter and its RLUSD stablecoin position it across banking, custody and settlement, though whether XRP itself benefits is a separate question.

The convergence of stablecoins, tokenised securities, 24/7 markets and regulated crypto banking is beginning to look less like a crypto experiment and more like the foundations of new financial infrastructure. The emerging “stablecoin sandwich” describes a model in which fiat money is converted into a stablecoin, transferred or settled on blockchain rails, and ultimately converted back into fiat. Increasingly, though, stablecoins could sit between consumers, financial institutions and tokenised assets rather than simply facilitate crypto trading.

It’s Already Showing Up In Mainstream Products

This shift is becoming tangible in products people already use. Samsung confirmed at Galaxy Unpacked 2026 that Samsung Wallet will add stablecoin functionality, with USDC reportedly among the options under consideration. Samsung hasn’t yet confirmed which stablecoins, launch markets, or exact capabilities (holding balances, transfers, merchant payments) will be included, so the detail is still to come.

Standard Chartered’s Anchorpoint venture has begun rolling out HKDAP, a regulated Hong Kong dollar stablecoin, for institutional payments and settlement, with broader retail access targeted as early as late 2026.

Wall Street Is Building The Same Rails

At the institutional level, the shift may be more significant again. The NYSE is developing a platform for tokenised stocks and ETFs with 24/7 operation, instant settlement and stablecoin-based funding, pending regulatory approval. Separately, the DTCC has SEC approval to launch a tokenisation service for US securities, with a production pilot running from July 2026 and full launch targeted for October. More than 50 firms are involved in that pilot, including JPMorgan, BlackRock, Vanguard and Goldman Sachs, tokenising Russell 1000 equities, major ETFs and US Treasuries.

Where Ripple Fits

This creates a potentially useful environment for Ripple. The OCC granted conditional approval for Ripple National Trust Bank in December 2025, one of five such trust bank charters approved around the same time, giving Ripple a pathway deeper into regulated financial infrastructure. RLUSD, Ripple’s own stablecoin, has passed US$1 billion in market capitalisation and is used in payments and as collateral by institutional prime brokers. Ripple therefore potentially sits across several layers: banking, stablecoins, payments, custody and blockchain settlement.

The open question for XRP is whether it becomes a liquidity bridge between an increasingly crowded field of stablecoins and tokenised assets. Stablecoins could theoretically handle much of settlement themselves, meaning Ripple’s business could succeed without XRP capturing much of that value. But if global markets need a neutral, efficient bridge between currencies, stablecoins and tokenised assets, XRP could become more relevant as that bridge asset. Neither outcome is settled yet.

What It Means For Investors

The broader trend here isn’t simply “crypto adoption.” It’s the gradual migration of money and capital markets onto programmable, always-on digital rails, with regulated banks and exchanges building much of that infrastructure themselves.

For investors watching this space, the practical question is less about picking the eventual winner and more about where assets are held while it plays out. Ainslie Crypto’s custody is provided under Australian regulatory oversight, which matters more, not less, as this infrastructure becomes more institutional.

This article is general information only and does not constitute financial advice. Past performance is not indicative of future results. Always conduct your own research or consult a licensed financial adviser before making investment decisions.