South Africa Confirms Standard Chartered’s Troubling Stablecoin Warning

South Africa’s central bank has echoed a warning from Standard Chartered, confirming that the rapid rise of stablecoins could destabilize emerging-market (EM) banks. Standard Chartered projects that digital dollars could drain as much as $1 trillion from EM bank deposits over the next three years, as consumers and corporates shift savings toward stable, USD-pegged alternatives. Standard Chartered’s Alarm: Emerging-Market Banks at Risk In a recent research note, Standard Chartered highlighted 48 countries along an opportunity–vulnerability continuum. As BeInCrypto reported, the bank’s Global Head of Digital Assets Research, Geoff Kendrick, identified Egypt, Pakistan, Bangladesh, and Sri Lanka as most exposed to deposit outflows source: https://beincrypto.com/south-africa-stablecoin-bank-risk/