US ban on stablecoin yield could see others fill the void: Ledger exec

Ledger’s Asia-Pacific lead, Takatoshi Shibayama, has added his take as crypto and banks continue to debate whether to allow third-party platforms to offer stablecoin yields.

A block on stablecoin yield payments in the US will likely prompt other countries to step up and offer the option, according to Takatoshi Shibayama, Asia-Pacific lead at crypto wallet company Ledger. 

Shibayama told Cointelegraph that if a wider ban on stablecoin yields is enacted in the US, it “definitely opens up a conversation” between institutions, stablecoin issuers and regulators overseas about how to respond.

He said countries such as Australia have given stablecoin issuers a regulatory carveout, but most stablecoins, even outside of the US, are “not providing yields or rewards to their user base just so that they can protect the banks’ interest.”

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