In a recent tweet, Stepan Simkin, CEO of Squads Protocol, shared some forward-thinking insights on the evolution of stablecoins and blockchain payments. Check out the original post here. He pushes back against the idea that we won't need onchain foreign exchange (FX) or tokenized versions of currencies beyond the US dollar. If we're serious about bringing real business-to-business (B2B) transactions onto the blockchain, Simkin argues, these tools aren't just nice-to-haves—they're must-haves.

Let's break this down. Stablecoins, for those new to the space, are cryptocurrencies designed to maintain a stable value, usually pegged to a fiat currency like the USD. Think USDT or USDC—they're the digital dollars that make crypto transactions feel more like traditional banking. But Simkin points out that early skeptics thought stablecoins would only matter outside the US. Fast-forward to today, and they're everywhere, powering everything from DeFi protocols to cross-border remittances.

Simkin envisions stablecoins as "programmable money" running on "programmable money rails"—that's blockchain tech in plain speak. This setup allows for automation and efficiency that traditional finance can't match. The key insight? This won't stop at dollars. Over time, stablecoins will represent every major currency, from euros to Brazilian reals (BRL). Why? Because businesses need to build better products, and that means handling global payments seamlessly.

Imagine a company with obligations in BRL. In the old world, you'd deal with volatile exchange rates, slow bank transfers, and surprise fees. Onchain, you could lock in an FX rate ahead of time, hold the exact currency in a stablecoin form on your balance sheet, and settle payments 1:1 instantly. No more guessing the rate at payout time. In the future, smart agents—think AI-driven bots on the blockchain—could automatically find the best rates, hedge risks, and swap just the right amount to cover your needs.

This is where onchain FX comes in: it's the ability to exchange currencies directly on the blockchain, without intermediaries. Tokenized currencies make this possible by turning fiat-like assets into digital tokens that can be programmed, traded, and settled in seconds. Without these, scaling to high-volume B2B flows just isn't feasible. We're talking about trillions in global trade that could migrate onchain, but only if the infrastructure supports diverse currencies and smart hedging.

Simkin's take resonates in the crypto community, with replies from folks like Etherfuse's Dave Taylor agreeing outright, and others chiming in that "onchain FX rails gonna eat the whole pie." It's a nod to how this tech could disrupt traditional finance, much like how meme tokens have shaken up speculative trading by making it fun, accessible, and community-driven.

For meme token enthusiasts, this matters because the same programmable rails powering B2B could supercharge meme ecosystems. Picture meme coins integrated with stablecoin payouts in local currencies, or automated FX for global pump events. As blockchain matures, these advancements could make meme trading more efficient and inclusive, drawing in businesses and everyday users alike.

The bottom line? The blockchain revolution is global, not USD-centric. Building onchain FX and tokenized currencies isn't optional—it's the path to a brighter, more scalable future for crypto finance. If you're in the meme space or broader blockchain world, keep an eye on projects like Squads Protocol, which are paving the way.