Stablecoins: Banks Can Slow Their Growth by Offering Better Savings Rates

A slight increase in interest rates on bank deposits could slow the growth of stablecoins. This is the finding of a study by the Bank for International Settlements (BIS), which highlights competition between bank savings and these cryptocurrencies pegged to traditional currencies. However, the effect varies depending on the players: Circle's USDC appears more sensitive to this competition than Tether's USDT.

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