Stablecoins Aren’t a Threat — They’re America’s Secret Weapon, Says Coinbase

A recent report by Coinbase argues that the US government’s stablecoin activation policies are primarily designed to bolster the dollar’s global hegemony, thus serving this purpose rather than purely domestic ones. The report challenges the notion that stablecoins threaten commercial banks’ deposit and lending functions, emphasizing the need to understand user demand and usage patterns. Debunking the “Bank Killer” Myth On Thursday, Faryar Shirzad, Coinbase’s Chief Policy Officer, pointed out on his X account that “The ‘stablecoins will destroy bank lending’ narrative ignores reality. ” He explained that the demand for stablecoins predominantly originates outside the United States, effectively extending the dollar’s global dominance source: https://beincrypto.com/stablecoins-arent-a-threat-theyre-americas-secret-weapon-says-coinbase/