According to Odaily, a recent research report by Bank of America Merrill Lynch indicates that stablecoins are set to have a disruptive impact on the traditional banking sector's deposit base and payment systems in the next two to three years. The report highlights that significant changes will become evident in the medium term as stablecoins become more integrated and widespread, posing increasing competition to the existing financial system.
With the initial regulatory framework for stablecoins taking shape in the United States, the banking industry finds itself at a crossroads between proactive engagement and cautious observation. Major banks are reportedly preparing to embrace the stablecoin era, as reflected in comments from their management teams. However, there remains a degree of skepticism and caution regarding the specific use cases of stablecoins, particularly in domestic payment scenarios within the U.S.