Stablecoins could siphon off euro zone bank deposits, ECB warns

FRANKFURT (Reuters) -Stablecoins could draw valuable retail deposits away from euro zone banks and any run on a coin could ​have widespread stability implications for the global financial system, the European ‌Central Bank warned on Monday. Stablecoins, digital assets designed to maintain a stable value, have been ‌growing in popularity and their market value now exceeds $280 billion, a relatively small figure but still notable because issuers have been among the largest buyers of U.S. Treasuries. They a ...