The announcement comes as stablecoins move toward mainstream finance following the passage of the GENIUS Act. Wall Street companies and banks are expanding stablecoin initiatives, while Citi projects the market could reach approximately $4 trillion by 2030.
At that scale, Sussman said, concentrating reserves among a few institutions could create liquidity and deposit risks.
“If stablecoins are supposed to reach $5 or $10 trillion, then there has to be something to help the market break even,” Sussman said. “You can’t just live in a really small circle because that will compound the risk on both sides.”
The platform itself will not run on a blockchain, although Tassat plans to connect it with deposit networks and tokenized assets. Sussman said that approach reduces the technical burden for smaller banks.
“There is a real risk that large sectors of the US banking ecosystem will be excluded,” he said. “I don’t think that’s politically healthy for the United States. I don’t think that’s economically healthy.”
