In this episode of Talking Tokenization, Jacquelyn Melinek speaks with Greg Di Prisco, Co-Founder of M0, about how stablecoins are reshaping global finance, why banks are losing their grip on deposits, and how the next monetary layer will be built directly into applications instead of traditional banking rails.

Greg explains why stablecoins may ultimately fulfill parts of Satoshi’s original vision, how M0 enables companies to launch their own branded stablecoins, and why the “vertically integrated issuer” model of USDC and USDT will give way to a broader, more decentralized ecosystem. He also breaks down tokenized treasuries, regulatory clarity under the “Genius Act,” and why fintechs are already routing balances to stablecoins without users realizing it.

They discuss how banks will be forced to compete again, what tokenization actually means in practice, why stablecoins could add billions of new users overnight through distribution partners, and what risks or geopolitical shocks could slow down adoption.

This episode is sponsored by Securitize, the proven leader in tokenized funds, equities, and private markets. Discover more at securitize.io.

Timestamps

(00:00) - Intro

(01:05) - Defining tokenization & why the term is often misused

(02:24) - Greg’s background: MakerDAO, early stablecoin development & founding M0

(03:09) - Why “everyone becoming their own bank” was 50 years too early

(04:22) - How stablecoins push banks to compete again for deposits

(05:28) - Building M0 and branded stablecoins, issuers & white-label infrastructure

(06:29) - Real client examples like GPU financing & MetaMask’s stablecoin

(07:33) - Why builders want their own stablecoin & capturing yield

(08:17) - The difference between lending USDC vs treasury-backed stablecoins

(09:36) - The biggest shift: fintechs routing balances to stablecoins instead of banks

(11:02) - Greg’s controversial take: stablecoins may fulfill Satoshi’s vision

(12:27) - Algorithmic stablecoins as “tokenized Ponzi schemes”

(13:57) - Why stablecoins, not Bitcoin, will disintermediate commercial banks

(15:24) - Tokenized funds, BUIDL (BlackRock), and onchain treasury management

(17:03) - M0 governance, issuers & risk frameworks

(19:25) - Why one issuer cannot control the money supply

(21:33) - How stablecoin adoption can jump from 200M to billions

(32:20) - Institutional adoption in 2026 and why every financial institution will join

(37:12) - Macro risks, regulation and events that could derail the growth curve

(40:11) - Greg’s final advice

Essentials

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