Banks could slow stablecoin growth by paying savers more, BIS paper finds
A BIS working paper found a 1 basis point rise in U.S. bank deposit rates predicted slower stablecoin growth, cutting ten-week growth from 15% to 12%.
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- A BIS working paper found a 1 basis point rise in U.S. bank deposit rates predicted slower stablecoin growth, cutting ten-week growth from 15% to 12%.
- The effect was stronger for Circle’s USDC than Tether’s USDT, which the authors linked to USDC’s closer ties to U.S. users.
- The authors say banks retain some influence over stablecoin adoption through deposit pricing, though the sample covers only one high-rate period.
