Stablecoins Are a Bigger Threat to US Banks Than Regulators Admit: Standard Chartered

In brief

• Standard Chartered estimates that $500 billion will move from bank deposits to stablecoins by 2028.
• Regional banks face the greatest risk as they rely on net interest margin for over 60% of revenue.
• Stablecoin yield legislation could reshape traditional banking if passed by end of Q1 2025.