Banks Aren’t Afraid of Stablecoins. They’re Afraid of Losing Control

Banks aren't primarily concerned about the stability or functionality of stablecoins themselves; rather, their real apprehension stems from the potential loss of control over the financial system and the implications that decentralized digital currencies could bring to their traditional business models. As stablecoins gain popularity and usage, banks fear that they may lose their monopoly on monetary transactions, the ability to manage liquidity, and their roles as trusted intermediaries in the financial ecosystem. This shift could disrupt their revenue streams and diminish their influence over economic policies, leading to a landscape where financial power increasingly shifts to innovative technologies and private entities outside of their purview. source: https://blocknews.com/banks-arent-afraid-of-stablecoins-theyre-afraid-of-losing-control/