Stablecoins not a threat to banks in the near-term: Moody's analyst
A Moody's analyst reports that stablecoins pose limited near-term risks to banks, though future growth in tokenized assets could eventually pressure banking market share.Summary
Moody's Investors Service analyst Abhi Srivastava indicates that stablecoins currently pose minimal disruption to the banking sector, as existing US payment systems remain efficient and regulatory hurdles prevent stablecoins from offering yields that would compete with traditional deposits. While current adoption is limited, Srivastava warns that the continued expansion of the stablecoin market and the rise of tokenized real-world assets could eventually lead to deposit outflows and reduced lending capacity for banks. Meanwhile, legislative efforts like the CLARITY Act remain stalled in Congress, largely due to disagreements between the crypto industry and banking lobbyists regarding the regulation of yield-bearing stablecoins.
(Source：Cointelegraph)