This article discusses how stablecoins are transforming the banking landscape by making deposits portable and programmable. It traces the evolution of banking from local trust in the 1800s to the current rise of fintechs and stablecoins, highlighting their potential to reshape the financial system.

Pavel Paramonov argues that crypto cards are a temporary solution that adds unnecessary complexity to cryptocurrency transactions. He believes these cards will eventually fail as they still rely on traditional banking systems and do not align with the true values of decentralization. EtherFi stands out as a unique model that preserves users' crypto assets while offering cash loans.