Stablecoins could draw valuable retail deposits away from euro zone banks and any run on a coin could have widespread stability implications for the global financial system, the European Central Bank warned on Monday. Stablecoins, digital assets designed to maintain a stable value, have been growing in popularity and their market value now exceeds $280 billion, a relatively small figure but still notable because issuers have been among the largest buyers of U.S. Treasuries. They are intended as a store of value and to provide cross-border payments, but their real use is in buying crypto assets, the ECB argued in a ... (full story)