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The Unbundling of Banks: How Stablecoins Change Everything | Charles Calomiris

The Unbundling of Banks: How Stablecoins Change Everything | Charles Calomiris

Bankless · Bankless

September 22, 20251h 35m

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Show Notes

What happens when stablecoins break apart the traditional business model of banks?


Economist Charles Calomiris explains how the “unbundling” of payments and lending reshapes finance, why politics matter more than technology, and what this revolution could mean for the dollar’s future.


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TIMESTAMPS


0:00 What Are Banks?

7:56 Chartered Banking

30:44 The Unbundling

51:48 Stablecoin Yield Concerns

1:01:42 Death of The Dollar?

1:15:45 Stablecoins Abroad

1:20:52 Future of The Dollar

1:24:38 Dollar as a SoV

1:32:10 Are Stablecoins Winning?

1:36:30 Closing & Disclaimers


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RESOURCES


Charles Calomiris

https://x.com/cwcalomiris 


Fragile by Design (Charles' Book)

https://www.amazon.com/Fragile-Design-Political-Princeton-Economic/dp/0691155240/ref=sr_1_1?ie=UTF8&sr=8-1 


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