$USD1 Stablecoins threaten banks with a $500,000,000,000 outflow from deposits.
➤ Standard Chartered believes that as stablecoins grow, banks in developed countries could lose up to $500b deposits by 2028.
➤ In the US, the deposit volume could decrease by an amount equal to 1/3 of the stablecoin market capitalization. Currently, this is already over $300 billion, and the market is growing at approximately 40% per year.
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$USD1 Stablecoins threaten banks with a $500,000,000,000 outflow from deposits.
➤ Standard Chartered believes that as stablecoins grow, banks in developed countries could lose up to $500b deposits by 2028.
➤ In the US, the deposit volume could decrease by an amount equal to 1/3 of the stablecoin market capitalization. Currently, this is already over $300 billion, and the market is growing at approximately 40% per year.