An architectural 2026 breakdown of the "Casino Chip" analogy for stablecoins. This guide positions stablecoins not as a currency, but as a Layer 2 (L2) settlement instrument that operates on top of a "Layer 1" (L1) fiat reserve. It explains how corporations use this model to create internal "sovereign" payment loops, bypassing correspondent banking friction. Key topics include the "Singleness of Money" principle, 1-to-1 reserve backing under the GENIUS Act, and the shift from public blockchain volatility to private ledger efficiency.
4 min read
Read More