Wall Street is now racing to control the $1.9T stablecoin shift to avoid losing its customer base
Standard Chartered estimated in January that stablecoins could pull about $500 billion from US bank deposits by the end of 2028. Regional banks looked especially exposed given how much they depend on the spread between what they pay depositors and what they earn on loans. Now, 21 major financial institutions, including Bank of America, Citi, […] The post Wall Street is now racing to control the $1.9T stablecoin shift to avoid losing its customer base appeared first on CryptoSlate.
Key Takeaways
- Standard Chartered estimated in January that stablecoins could pull about $500 billion from US bank deposits by the end of 2028.
- Regional banks looked especially exposed given how much they depend on the spread between what they pay depositors and what they earn on loans.
- Now, 21 major financial institutions, including Bank of America, Citi, […] The post Wall Street is now racing to control the $1.9T stablecoin shift to avoid losing its customer base appeared first on CryptoSlate.
Summary generated by IndiCrypto from CryptoSlate. IndiCrypto is a news aggregator and does not provide investment advice. Read the original article for full context.
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Tether Sued Over $42 Million USDT Freeze
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