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Stablecoins Are Not Bank Deposit Competitors, Study Suggests

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A new study by Cornell’s Will Cong disputes claims that stablecoins are undermining bank deposits. The research shows no major outflows from banks linked to stablecoin use, pointing instead to improved interest rates and efficiency as a result. Bank deposits remain sticky due to bundled services, with stablecoins pushing competition in financial innovation. The findings align with ongoing efforts in Countering the Financing of Terrorism, as regulators monitor liquidity and crypto markets for systemic risks.
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