Stablecoins Could Drain | Crypto

Standard Chartered has said stablecoins have functioned as USD accounts in EM, projecting $1.22T by 2028 and a $1T drain from deposits. The U.S. GENIUS Act has set rules and the Bank of England has proposed caps, as EM Banks have faced pressure in high-inflation markets. The post Banking Giant Issues Dire Warning: Stablecoins Could Drain $1 Trillion From Global Banks by 2028 appeared first on Cryptonews.