Banks Hold a Lever over Stablecoin Adoption, BIS Economists Say
In brief - A new BIS working paper using U.S. data from 2019 to 2025 found that higher bank deposit rates predict slower stablecoin market growth. - The effect was stronger for Circle’s USDC than for Tether’s USDT, which the authors tied to USDC’s closer links to U.S. users. -...