Bank of America Merrill Lynch: Stablecoins will have a disruptive impact on traditional bank deposit and payment systems

Odaily Planet Daily News: A latest research report from Bank of America Merrill Lynch shows that as the United States paves the way for regulatory issuance of stablecoins, this digital asset will have a clear and visible disruptive impact on the deposit base and payment system of traditional banks in the next 2 to 3 years. The report emphasizes that real change will manifest in the medium term. With the integration and popularization of stablecoins, their impact on the existing financial system will become increasingly apparent, and banks will face competition pressure from digital currencies. With the initial implementation of the regulatory framework for stablecoins in the United States, the banking industry is at a crossroads of active layout and cautious observation. The US banking industry is ready to embrace the era of stablecoins. According to the comments from the management of major banks, the industry is actively preparing to provide stablecoin solutions. However, bankers still hold a cautious or even skeptical attitude towards its specific use cases, especially in the domestic payment scenario in the United States. (Observations from Wall Street)