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Banks Race to Integrate Stablecoins as $68B Hits Exchanges – But at What Cost?
Banks Race to Integrate Stablecoins as $68B Hits Exchanges – But at What Cost?
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BTCCSquare news:
Stablecoins are emerging as a pivotal force in cryptocurrency, with banks and traditional financial institutions scrambling to adapt. CryptoQuant data reveals a record $68 billion in stablecoin holdings on exchanges as of August 22, while the global market cap surpasses $280 billion—a signal of deepening institutional engagement.
The GENIUS Act and yield restrictions have sparked tensions between banks and crypto platforms. "Users deposit stablecoins onto exchanges for yield opportunities banks can't match," notes Charles Wayn of Galxe, highlighting a structural shift in liquidity preferences. Regulatory uncertainty looms as lenders fear trillion-dollar outflows from traditional systems.
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