Maghnus Mareneck, co-CEO of Interchain Lab, the business unit of COSMOS, explains the importance of interoperability in Stablecoin payments.
summary
- Major Japanese banks recently leveraged Cosmos and ICB for their Stablecoin ventures
- Magnos Malenek explains the role of stablecoins' interoperable blockchains
- The government tried to shut us down, but now it's not possible, he explains
As Stablecoin adoption accelerates globally, more agencies are investigating the launch of their own tokens. But they soon come into conflict with some dilemma. One of the key questions is which blockchain to choose. More and more companies are choosing to create their own chains, according to Maghnus Mareneck, co-CEO of Interchain Labs.
In this environment, interoperability is everything, Malenek points out a recent example in Japan, explains. With $1.3 billion of Stablecoins issued in the first half of 2025, there is a growing awareness of use cases. In particular, on August 22, SMBC Group, one of Japan's largest banks, partnered with several blockchain companies to use Stablecoins to pay for security tokens.
“Stablecoins is one of the most influential use cases for crypto, and businesses are aware of that,” Mareneck said. “We've been receiving panicking calls from company executives asking us what this does for their business and how they can move on beyond that,” he added.
The new system reduces fees and increases payment speeds. At the same time, the programmable nature of blockchain eliminates counterparty risk. Importantly, the partnership leverages the IBC protocol and the COSMOS (Atom) stack to enable interoperability between multiple blockchains.
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“Every company runs its own Stablecoin”
With such interest in Stablecoins, it's only a matter of time before more companies adopt Stablecoins. Furthermore, he soon believes that all major companies have their own Layer-1 blockchain networks with their own Stablecoin or Token. These include tokens similar to Starbucks gift cards, all of which can be traded across different networks.
“When companies grow up, when they finally choose to control their own infrastructure, there's a big trend. At one point, the cloud was a big trend, but one after another, major tech companies decided to leave,” Mareneck said.
He points out that while the Cosmos SDK allows developers to quickly build custom blockchains, IBC can connect them. He acknowledges that launching in another chain is more accessible, but launching L1 allows businesses to capture all the value from its activities.
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“The government has been trying to stop us for years.”
The move towards more interoperable blockchains is good for consumers too, explains Mareneck. Both banks and blockchain projects may want to keep users locked into the network, but cross-chain interoperability gives users more choice and power. Malenek argues this is a trend that even the government cannot resist.
“The government has been trying to shut down the crypto industry for years, and even Cosmos has been criticized,” Malenek said. “This technology is unstoppable and will likely last longer than any government.”
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