Jan said many Binance employees, including himself, already keep most of their assets on the exchange. “I could make payments, I could use my debit card to spend whatever I need wherever I want,” he said.

Lines are blurring

Eneko Knorr, co-founder and CEO of Dubai-based stablecoin company Stabolut, said the line between banks and crypto companies is becoming harder to see.

“Today, you see regular banks offering crypto, and crypto platforms offering real bank accounts and normal banking services,” Knorr told CoinDesk. “Of course, the world still runs on regular money, so we all have to make a standard bank transfer to pay rent or the utility bills.”

Knorr said younger customers may choose an app that combines stablecoins with…