WuShuo has learned that a McKinsey report analyzes how the world is entering a new phase of 'on-chain currency.' The article states that the current circulation of stablecoins is around $300 billion, with approximately 99% denominated in USD. In contrast, the annual transfer volume processed by major banks through tokenized deposit infrastructure has already exceeded $4 trillion. McKinsey believes that on-chain finance will not be dominated by a single stablecoin but will evolve into a three-layer structure consisting of stablecoins (for retail applications), tokenized deposits (for institutional business), and central bank digital currencies (for final settlement). This structure is expected to alleviate the fragmentation issues in the current on-chain currency system and promote the standardization and compliance of global capital flows. https://(wublock123.com)/news/mckinsey-report-tokenized-deposits-annual-transfers-4trillion-61575