Banking Giant Issues Dire Warning: Stablecoins Could Drain $1 Trillion From Global Banks by 2028

Standard Chartered has warned that over $1 trillion could flow out of emerging-market (EM) banks and into stablecoins by 2028, as adoption of dollar-pegged crypto assets accelerates globally. In a report published Monday, the bank’s Global Research unit said growing adoption of stablecoins could trigger one of the largest structural shifts in modern banking, diverting savings from traditional lenders to blockchain-based alternatives. The report estimates that stablecoin holdings in emerging markets could ...