HOW FINTECH IS CHANGING BANKING (IN THE CONTEXT OF DIGITAL CURRENCIES)

Abstract

This article analyses the impact of the fintech revolution, particularly the development of digital currencies, on the transformation of the banking system. In the modern financial landscape, digital currencies such as cryptocurrencies, stablecoins, and central bank digital currencies (CBDCs) are radically changing traditional banking models, creating new opportunities for payments, financial inclusion, and monetary policy optimisation. At the same time, they pose challenges related to competition for deposit resources, the changing role of banks as financial intermediaries, and the need to adapt to a fragmented regulatory environment. The article discusses current trends in the development of digital currencies: the growing number of countries exploring CBDCs (137 countries covering 98% of global GDP), the full launch of CBDCs in the Bahamas, Jamaica and Nigeria, and the rapid growth of the stablecoin market with a capitalisation of $230-260 billion in 2025. Particular attention is paid to the role of stablecoins as a parallel payment infrastructure competing with traditional banking systems, and the potential of CBDCs to increase financial inclusion for the 1.7 billion people who remain unbanked. The article analyses how leading banks such as JPMorgan and Goldman Sachs are integrating blockchain solutions, such as JPM Coin, to optimise transactions, while regulators, notably through MiCA in the EU and the GENIUS Act in the US, are attempting to set standards for digital currencies. The study also covers the growth of decentralised finance (DeFi) with a TVL of $150 billion, where stablecoins play a key role. It is predicted that by 2030, the financial ecosystem will take on a hybrid form, combining traditional bank money, stablecoins, and CBDCs. The article emphasises the need for banks to adapt by investing in digital strategies, partnering with token issuers and collaborating with regulators to ensure stability and innovation. The conclusions emphasise the importance of trust in institutions and technologies as a key factor in the success of the digital economy, which can form the basis for a more inclusive and efficient financial system, but also carries systemic risks that require global coordination.