As of July 20, 2025, stablecoins pegged to stable assets like the US dollar are gaining popularity as an alternative to traditional bank deposits. However, this raises the question: do they pose a threat to the financial stability of banks? Experts have differing opinions. On one hand, stablecoins such as $USDT and $USDC offer higher interest rates through decentralized platforms, which may encourage depositors to withdraw funds from banks. This is particularly relevant after the passage of the GENIUS Act in the US, which legalized the issuance of stablecoins by banks.
On the other hand, banks are adapting by integrating stablecoins into their services, which may reduce the outflow of deposits. However, the risk lies in the lack of transparency regarding the reserves of some issuers, which could undermine trust in the system. In the event of a mass shift to stablecoins, the banking sector may face liquidity issues, especially if regulators do not manage to adapt in time.
Currently, the risk remains moderate but is increasing with the spread of cryptocurrencies. Regulations, such as in the EU with MiCA, may stabilize the situation. Investors should keep an eye on the news and choose reliable platforms.
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