Standard Chartered Bank: Stablecoins Pose a Real Threat to Bank Deposits

Standard Chartered analysts stated in a report that stablecoins pose a real risk to bank deposits globally and in the United States.

Geoff Kendrick, Global Head of Digital Asset Research at Standard Chartered, pointed out in the report that the delay of the U.S. CLARITY Act serves as a reminder of the risks stablecoins pose to banks. Geoff Kendrick estimates that U.S. bank deposits will decrease as the market capitalization of stablecoins grows, with the reduction amounting to approximately the weight of stablecoin market capitalization. Among these, U.S. regional banks are the most affected, while investment banks are the least affected. The report shows that only 0.02% and 14.5% of the reserves of Tether and Circle, respectively, are in bank deposits, indicating a very low rate of re-depositing.