币界网报道：The global financial system may be undergoing a revolutionary shift toward "narrow banking" built on stablecoins, potentially realizing an 800-year-old economic vision. This model separates payment functions from credit creation, requiring 100% reserve backing for deposits – addressing the inherent instability of fractional reserve banking. Stablecoins, now processing $35 trillion annually with 30 million users, are emerging as decentralized payment alternatives, particularly in unstable economies and remittances. U.S. legislation is institutionalizing stablecoins by mandating high-quality asset backing, effectively creating narrow banks. This transition aligns with shifting political dynamics, including populist anger at traditional banks and strategic interests in maintaining dollar dominance against rivals like China. The U.S. financial system's reduced reliance on bank credit (just 35% of private sector funding) makes this transition uniquely feasible, though it would dramatically reshape global finance, creating new winners while challenging traditional banking models.