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US banks may lose $500 billion to stablecoins by 2028, Standard Chartered warns
US dollar-backed crypto tokens known as stablecoins could pull around $500 billion in deposits out of U.S. banks by the end of 2028, Standard Chartered estimated on Tuesday - new analysis that could intensify a fight between banks and crypto companies over legislation to set rules for the digital asset sector. Regional U.S. banks would be most exposed to a loss in deposits due to stablecoins, said Geoff Kendrick, global head of digital assets research at Standard Chartered. The analysis was based on lenders' net interest margin income - the difference between what a bank earns on loans and what it pays out on ... (full story)
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