Marc Boiron, an executive at Polygon Labs, stated that teams building payment companies with the premise of "off-chain currency" are ignoring the long-term trend of financial infrastructure moving on-chain.

Boiron predicts that in ten years, "all currencies" will be on-chain, with currencies still having local attributes in terms of law and regulation, but cross-border flows will be as smooth as if there were no geographical restrictions.

This statement reflects a long-term view on the evolution of payment infrastructure and does not include new products, partnerships, financing, regulatory approvals, stablecoin issuance, or actual transaction data from Polygon, and should not be considered a validated timeline.

The logic is that currencies may continue to be denominated in sovereign currencies like USD, EUR, JPY, etc., and subject to local regulation, but will be issued, transferred, and settled in forms such as stablecoins, tokenized bank deposits, central bank digital currencies, or on-chain currency market shares on programmable ledgers.

The practical limitations are that cross-border payments are still constrained by capital controls, foreign exchange rules, banking licenses, anti-money laundering, sanctions screening, tax reporting, data localization, and consumer protection. Blockchain can reduce settlement, reconciliation, and intermediary friction, but cannot solely rely on technology to eliminate currency sovereignty or jurisdictional boundaries.

In terms of market mechanisms, enterprises, merchants, financial institutions, and cross-border individuals are the demand side for low-cost, round-the-clock settlements; stablecoin issuers, banks, payment companies, public chains, wallets, custodians, compliance, and liquidity providers make up the supply side. If funds continue to move on-chain, value will partially shift from cross-border correspondent banks, bulk clearing, and closed payment networks to stablecoin issuance, on-chain foreign exchange, wallet distribution, compliance identity, and liquidity routing; however, institutions that can access bank accounts, fiat currency inflows and outflows, and regulatory permissions will still hold the final exchange rights.

Source: Public Information