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

BlockBeats News, January 27, Standard Chartered Bank analysts stated in a report that stablecoins pose a real risk to global and U.S. bank deposits. 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 highlights 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 approximately proportional to the weight of stablecoin market capitalization. Among them, U.S. regional banks are most affected, while investment banks are least impacted. The report shows that only 0.02% and 14.5% of Tether and Circle reserves, respectively, are held as bank deposits, indicating an extremely low redeposit ratio.