BIS paper: higher bank deposit rates can slow stablecoin growth
- —A 1 bp rise in deposit rates cuts 10-week stablecoin growth from 15% to 12%
- —Banks can curb stablecoin expansion by paying savers more
- —Findings come from a BIS working paper
Why it matters: The data shows competition for yield from banks limits inflows into stablecoins.
Source: CoinDesk