Banks in the Age of Stablecoins: Some Possible Implications for Deposits, Credit, and Financial Intermediation

Jessie Wang

No 2025-12-17-1, FEDS Notes from Board of Governors of the Federal Reserve System (U.S.)

Abstract: The rapid growth of stablecoins, accelerated by regulatory frameworks like the Genius Act, has raised important questions about their impact on traditional banking. As these digital tokens gain mainstream acceptance, they could fundamentally reshape the structure and functions of banking and influence the established intermediation role of banks.

Date: 2025-12-17
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Persistent link: https://EconPapers.repec.org/RePEc:fip:fedgfn:2025-12-17-1

DOI: 10.17016/2380-7172.3970

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