According to Hawgan, the arguments that American banks will not be able to issue loans if stablecoins capture the financial market are insolvent. Banks will have to reduce loan issuance, but this compensates for landing tools of decentralized finances (Defi).
“If local banks are concerned about the competition by“ stable coins ”, they need to pay more interest on deposits. The anxiety is caused only by the fact that for decades they abused the depositors, using them as a free source of capital, ”Hawgan explained his thought.
The economy will be in order and the market will cope, only the margin of banks will turn out to be the loser, the investor director of BitWise is sure. He is sure that individual investors and investors who are looking for new profitability tools will be winners.
Earlier, the general director of Multiliquid and Unified Labs, the former director of the development of tokenized assets of Standard Chartered, Will BeeSon, said the emitters of stabilcoin should offer users profitability if they want to compete with banks.
Source: Bits
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