As stablecoins gain traction, US banks are at risk of their deposits being syphoned over to the digital asset realm, according to Standard Chartered Bank. The increased use of cryptocurrencies designed to track a mainstream asset, often the US dollar, threatens to spur the exit of as much as US$500 billion in deposits from lenders in industrialised nations by the end of 2028, an analysis from Geoff Kendrick, global head of digital assets research at Standard Chartered, showed. He views landmark digital-asset legislation as the next likely catalyst for growth in crypto firms such as Coinbase Global, as they square off ... (full story)