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๐ธ Stablecoins threaten banks with up to $500,000,000,000 in deposit outflows.
โค Standard Chartered believes that as stablecoins grow, banks in developed economies could lose up to $500 billion in deposits by 2028.
โค In the #United States, deposit volumes could shrink by an amount equal to one-third of the total stablecoin market capitalization. This figure already exceeds $300 billion, with the market growing at around 40% per year.
โค A key catalyst is #CLARITY โ the crypto market structure bill currently moving through Congress. Its adoption could sharply accelerate capital flows from banks into crypto.
โค The main #concern for banks is yield. Coinbase already offers 3.5% APY on USDC, prompting banks to actively lobby for restrictions on such โquasi-deposits.โ
โค #Tether and Circle barely return funds to banks โ only 0.02% and 14.5% of their reserves, respectively, are held as bank deposits. Capital flows out and does not come back.
#TetherUpdate
$USDT $BNB $BTC
โค Standard Chartered believes that as stablecoins grow, banks in developed economies could lose up to $500 billion in deposits by 2028.
โค In the #United States, deposit volumes could shrink by an amount equal to one-third of the total stablecoin market capitalization. This figure already exceeds $300 billion, with the market growing at around 40% per year.
โค A key catalyst is #CLARITY โ the crypto market structure bill currently moving through Congress. Its adoption could sharply accelerate capital flows from banks into crypto.
โค The main #concern for banks is yield. Coinbase already offers 3.5% APY on USDC, prompting banks to actively lobby for restrictions on such โquasi-deposits.โ
โค #Tether and Circle barely return funds to banks โ only 0.02% and 14.5% of their reserves, respectively, are held as bank deposits. Capital flows out and does not come back.
#TetherUpdate
$USDT $BNB $BTC
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