Standard Chartered Bank predicts that the widespread adoption of stablecoins may result in the withdrawal of $500 billion in US bank deposits by 2028

Standard Chartered Bank has released a report stating that the accelerated adoption of stablecoins may withdraw up to $500 billion in deposits from the US banking system by 2028, posing the greatest threat to regional banks in the US that rely on deposit spreads. The report predicts that the market value of stablecoins will reach $2 trillion by then, with one-third coming from developed markets. Regulatory uncertainty and delays in legislation are considered the main factors amplifying risks.