Banking Giant Issues Dire Warning: Stablecoins Could Drain $1 Trillion From Global Banks by 2028

Standard Chartered has said stablecoins have functioned as USD accounts in EM, projecting $1.22T by 2028 and a $1T drain from deposits. The U.S. GENIUS Act has set rules and the Bank of England has proposed caps, as EM Banks have faced pressure in high-inflation markets.

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