Economists at the Bank for International Settlements concluded in a working paper that banks hold a lever over stablecoin adoption, finding that stablecoin growth slows when U.S. banks raise deposit rates. Among the stablecoins examined, Circle’s USDC was the most sensitive to those rate changes.
Business
Banks Hold a Lever Over Stablecoin Adoption, BIS Economists Say
A Bank for International Settlements working paper found that stablecoin growth slows when U.S. banks raise deposit rates, with Circle’s USDC most sensitive.
