Stablecoins’ Tenuous Relationships With Banks


Even in the cases of stablecoins that do have U.S. banking relationships, it’s not clear these small banks can quickly perform these functions typically performed by big Street banks. To wit, the Fed’s rescue of MMFs in 2008, in its role as “lender of last resort,” occurred after banks already stepped in on their own.


Leave a Reply

Your email address will not be published. Required fields are marked *