Can Stablecoins Keep Deposits in Banks? w/ Cooper Thompson (Fiserv)

Presented by Stablecon; Powered by BVNK. In episode 18 of Money Code, hosts Chuk Okpalugo and Raj Parekh are joined by Cooper Thompson, Head of Innovation for Embedded Finance and Digital Assets at Fiserv. They argue that stablecoins won’t replace bank cores but will connect them, and that the real bottleneck for bank adoption is the liability side: if reserves sit in Treasuries or at GSIBs, stablecoins undermine deposit-funded lending unless “fiat-layer” designs keep backing deposits distributed across smaller institutions.Subscribe and listen to the Money Code podcast here:https://lnk.to/MoneyCodeSNChapters00:00 The bank funding problem stablecoins create00:55 Why Fiserv is in the “implementation layer”02:36 What banks want: trust, reliability, and constraints04:54 “Not everything moves onchain; cores stay”06:38 Why FIUSD: stablecoins ignored fiat-layer innovation10:33 FIUSD distribution: regulated-network cash, not DeFi liquidity12:12 Domestic rails vs cross-border wins, and where programmability matters17:36 Tokenized deposits vs payment stablecoins21:14 StoneCastle and the deposit network mechanism31:33 What products move onchain first: multi-party coordination36:45 Privacy on public ledgers: ZK, audit keys, and institution-grade needs39:49 Parting advice: when to adopt, and staying educatedConnect with the Hosts & GuestChuk Okpalugo: https://www.linkedin.com/in/chuk-okpalugo/ | https://x.com/chuk_xyz/ | http://stablecoinblueprint.com Raj Parekh: https://www.linkedin.com/in/rajparekh7/ | https://x.com/rajparekh | http://monad.xyz Cooper Thompson: https://www.linkedin.com/in/cooper-thompson-963a01171/ | https://www.fiserv.com/ About Money CodeMoney Code is the show that decodes stablecoins and the evolution of programmable money for builders, investors, and decision-makers. Each week, join hosts Chuk Okpalugo, Author of Stablecoin Blueprint and Raj Parekh, Head of Payments/Stablecoins at Monad Foundation as they break down the systems and strategies of seasoned operators in the space, revealing the insights you need for better build and buy decisions.About StableconStablecon (https://stablecon.com/) is the premier gathering for those at the intersection of DeFi, economic policy, financial infrastructure, and institutional integration, and those reinventing global commerce. By convening the brightest minds in fintech and crypto, Stablecon provides attendees with world class thought leadership and fosters unparalleled networking and strategic collaboration across the digital payments industry.   Whether you’re building, advising, or navigating this new frontier, this is the room where it happens.About BVNKBVNK is the leading provider of stablecoin payments infrastructure, helping businesses move money faster, settle globally, and even launch their own stablecoin products. Head to https://bvnk.com/ to learn more.