The Stablecoin Gold Rush: Banks, Fintechs, and the Digital Dollar Land Grab

Banks once dismissed crypto as a wild experiment. Now, they’re diving headfirst into stablecoins. Why? Because when regulations shift and money moves, even the most traditional institutions follow the scent of opportunity.

Banks and fintechs are scrambling to launch their own stablecoins, aiming to reshape cross-border payments. With regulators warming to digital dollars, Bank of America, Stripe, and Standard Chartered are joining a market once dominated by Tether and Circle.

• Stablecoins are gaining traction in emerging markets, bypassing banks for fast, cheap transactions.
• US and EU regulations are fueling institutional confidence, with politicians debating formalized rules.
• Despite enthusiasm, market saturation looms; PayPal’s stablecoin, PYUSD, still lags behind Tether’s $131B in transactions.

Is this the future of money or just another financial bubble? With banks betting big, will stablecoins become mainstream, or are we witnessing the next financial shake-up?

Read the full article on Financial Times.

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