Personal Stablecoins

In the remote reaches of the stablecoin future could we see personal stablecoins? These would be issued by an individual with the aid of a company that would custody the backing assets, handle regulatory issues, launch a coin on a blockchain, and oversee redemption and other logistical matters.

With a personal stablecoin, individuals would monetize their assets. This is nothing new, but it has not been seen in the US since the early 1800s.

The first banks in the US were basically wealthy individuals monetizing their gold, stock, and other assets. Following state regulations, they would set up a shop in a town, have some banknotes printed, and then start issuing them. The dollar-denominated notes were backed by their wealth.

While their backing assets appreciated in value or paid dividends, individuals (bankers) would spend their dollars in the community, receiving, in effect, zero percent loans from the public who accepted the banknotes. These dollars could also be used to buy other assets or could, in turn, be loaned out to others at interest. Personal stablecoins would work the same way.

With a personal stablecoin, one could be their own banker.