The ECB Just Published a Warning: Stablecoins Could Drain Bank Deposits and Break Monetary Policy

A new European Central Bank paper warns that growing stablecoin adoption in the euro area could pull deposits out of traditional banks, reduce lending to households and businesses, and interfere with the ECB’s ability to transmit interest rate decisions to the real economy. source: https://www.ethnews.com/the-ecb-just-published-a-warning-stablecoins-could-drain-bank-deposits-and-break-monetary-policy/