The boom in U.S. dollar-backed stablecoins, helped by U.S. President Donald Trump’s crypto policies, could suck US$1 trillion worth of deposits out of emerging economy banks in the next few years, a report from Standard Chartered estimates. About 99 per cent of all stablecoins are pegged to the dollar, which economists say effectively makes them dollar-based bank accounts and increasingly attractive in parts of the world prone to currency crises. Standard Chartered, a bank renowned for operating in developing economies, said the desire to avoid savings being wiped out will drive individuals and companies to put their ... (full story)