Stablecoins Aren’t a Threat — They’re America’s Secret Weapon, Says Coinbase
Coinbase argues stablecoins bolster the dollar's global role by serving international demand, not threatening US bank deposits.Summary
A recent report by Coinbase, highlighted by Chief Policy Officer Faryar Shirzad, contends that stablecoin activation policies are designed to reinforce the dollar's global dominance rather than posing a threat to domestic commercial banks. Shirzad debunks the "bank killer" myth, explaining that stablecoin demand primarily originates internationally, providing users in emerging economies with practical dollar access against local currency depreciation. While banking groups fear deposit outflows, Coinbase asserts this concern overlooks actual usage; two-thirds of stablecoin transfers occur on DeFi and blockchain platforms, forming infrastructure parallel to the traditional banking system. Ultimately, Coinbase concludes that stablecoins strengthen the dollar's global position and should not be constrained.
(Source：BeInCrypto)