Bank of America's leadership is sounding the alarm on interest-bearing stablecoins. CEO Brian Moynihan flagged a potential risk: these instruments could siphon roughly $6 trillion from traditional banks, crimping their lending firepower and driving up borrowing costs across the board. It's a stark reminder of how crypto-native financial products are reshaping traditional banking dynamics. Whether you see it as a threat or opportunity, the numbers are hard to ignore.
Bank of America's leadership is sounding the alarm on interest-bearing stablecoins. CEO Brian Moynihan flagged a potential risk: these instruments could siphon roughly $6 trillion from traditional banks, crimping their lending firepower and driving up borrowing costs across the board. It's a stark reminder of how crypto-native financial products are reshaping traditional banking dynamics. Whether you see it as a threat or opportunity, the numbers are hard to ignore.