Can stablecoins hold their edge as banks move into crypto?

Crypto firms and traditional banks are increasingly converging, prompting the question of whether stablecoins retain any lasting competitive advantage. The discussion is framed by Alessandro Hatami, founder of Pacemakers and former COO of Digital Banking at Lloyds Banking Group. He argues that the rising overlap between the two sectors makes this question worth examining closely. The piece presents his view on the durability of stablecoins' position in the market. The source article provides only this brief framing, so further details of his argument are not covered here.