Coinbase Dismisses ‘Deposit Erosion’ Concerns Over Stablecoins as a Myth

Coinbase Dismisses ‘Deposit Erosion’ Concerns Over Stablecoins as a Myth

Coinbase has pushed back against claims that stablecoins are draining U.S. bank deposits, dismissing the idea of “deposit erosion” as an unfounded myth. In a statement published Tuesday, the crypto exchange argued that there is no evidence linking stablecoin adoption to a systemic outflow of bank deposits, particularly at the community banking level. Stablecoins Are Payment Tools, Not Savings Accounts The company emphasized that stablecoin...

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