Delphi Digital: Stablecoins may disrupt the bank interest margin model, raising concerns over deposit outflow risks

Gate News, March 19 — Delphi Digital published an analysis on the potential impact of stablecoins on traditional banking profit models. They stated that, compared to controversies over national security, the direct impact of stablecoins on banking operations is more worth paying attention to. Currently, U.S. Treasury yields are about 3.89%, while the interest rate on regular savings accounts is approximately 0.39%, with banks earning profits from this interest spread. Delphi Digital pointed out that stablecoins are also backed by assets such as government bonds, and issuers are exploring mechanisms to distribute earnings to holders. If this model is widely adopted, it could lead to funds flowing from traditional banking systems into stablecoins, thereby weakening banks’ ability to access low-cost funds and provide credit.

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