Higher Bank Deposit Rates Could Slow Stablecoin Growth, BIS Paper Finds

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A working paper from the Bank for International Settlements examined how stablecoins compete with bank deposits. It found that a one basis point increase in U.S. bank deposit rates was associated with slower stablecoin expansion. According to the findings, ten-week stablecoin growth would fall from 15% to 12% under that change. The results suggest that banks offering savers more competitive yields could dampen the pace at which stablecoins draw funds away from traditional accounts.

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