Standard Chartered Predicts $1T Bank Outflows to Stablecoins

Multinational bank Standard Chartered predicted that more than $1 trillion may exit emerging market banks and flow into stablecoins by 2028 as demand for US dollar-pegged crypto assets accelerates. 

In a Monday report, Standard Chartered’s Global Research department said it expects global stablecoin adoption to accelerate as payment networks and other core banking activities shift to the non-bank sector. 

As stablecoins gain traction in emerging markets (EM), Standard Chartered noted that users might utilize stablecoins to access what’s…