[Ubyx Founder McLaughlin Proposes New Stablecoin Settlement Model] Ubyx founder Tony McLaughlin believes stablecoins can enable seamless interbank processing through a settlement network, similar to a check mechanism. He proposed that banks could redeem stablecoins at face value to avoid fragmentation issues and facilitate the exchange between stablecoins and cash through a collection model. McLaughlin predicts the stablecoin market size will reach $1 trillion, with banks earning $36 billion annually through settlement. Ubyx has received investment support from Galaxy Ventures, Founders Fund, and others, and plans to build a multi-issuer settlement system to compete with Circle's proprietary network.