Stablecoins could replace traditional banking payment systems within the next five to 10 years as blockchain settlement speeds continue to improve.

Speaking on the latest episode of the Blockchain Bulletin Unchained podcast, Marc Boiron, CEO of Polygon Labs said blockchain payments can settle in around two seconds, compared to the lengthy settlement times still associated with correspondent banking networks.

He also pointed to pre-confirmation technology, which can guarantee transactions in as little as 50 to 100 milliseconds.

“Why don’t I rip out our traditional rails and just rely on blockchain rails,” Boiron said. “Suddenly you get to a point where the only thing you’re transacting in is stablecoins whether it’s domestic or cross-border payments.”

Boiron explained that stablecoins are already being used heavily for cross-border settlements, contractor payroll and treasury management because they reduce costs and remove delays tied to traditional banking systems.

He described stablecoins as “10x better money”, arguing that blockchain infrastructure allows companies to distribute funds globally almost instantly and at low cost.

Despite the growth, Boiron said enterprise adoption remains difficult because businesses still need to connect multiple providers, including wallet services, interoperability platforms and fiat on/off ramps. He estimated that integrating blockchain payment rails can currently take up to 18 months.

To simplify the process, Polygon Labs is developing an “open money stack”, designed to help businesses launch blockchain payment systems within weeks.

On regulation, Boiron said KYC requirements remain essential and are handled through regulated intermediaries managing fiat entry and exit points. Blockchain networks then rely on transaction monitoring and analytics to track suspicious activity.

Boiron also dismissed the idea of volatile cryptocurrencies such as Bitcoin becoming mainstream payment tools, instead describing them as “digital gold”.

He added that stablecoins and tokenised bank deposits are more likely to form the foundation of future global payment systems, while CBDCs remain several years away from meaningful adoption.